Risk transfer to insurers could threaten Basel II, warns UK central banker

In May, Bank of England deputy governor David Clementi called for a critical look at the rationale for the difference in the way banks and insurance companies are regulated.

Clementi said he would welcome being put on the international agenda the question of whether the trend towards risk-based regulation of banks exemplified by Basel II needed mirroring in non-life insurance regulation in Europe.

Basel II is the new set of rules due to come into force in 2004 that stipulate how much capital

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