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City Minister John Glen has outlined new Solvency II measures to reduce bureaucracy and relax regulation in the insurance industry. -
The SEC is consulting on a suite of new rules for private fund advisers.
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Industry veteran argues that the culture of the UK regulator is stifling growth.
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Absent more significant reform, any changes this year look set to simply shift the timing of burdens falling on the public purse.
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State Senator Jeff Brandes withdrew his amendment to an insurance omnibus bill but said he would bring the concept back before the legislature.
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Axa XL’s UK and Lloyd’s CEO said speed of decision-making was key to UK market growth.
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The House of Lords Industry and Regulators Committee will explore whether regulatory policy is well-designed and proportionate for (re)insurers.
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The regulator is also reviewing Solvency II post-Brexit.
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The ratings agency said that long-tail classes could be hit by reserve deficiencies.
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The Government aims to ensure that the UK’s ILS taxation regime remains competitive.
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The Markel Catco Reinsurance Fund and Markel Catco Reinsurance Opportunities Fund have already had provisional liquidators appointed for restructuring purposes.
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HM Treasury is proposing to cut the tax burden on ILS transactions.
