Treasury written question – answered on 25th January 2023.
To ask the Chancellor of the Exchequer, what recent assessment his Department has made of a potential impact of the Government's proposed Solvency II reforms on the level of risk to the financial stability of the banking sector.
The Solvency II reforms strike a careful balance between boosting growth and maintaining high standards of policyholder protection. Insurers will still have to hold enough capital to withstand a 1-in-200-year shock. They will still have to adhere to high standards of risk management and will still be comprehensively supervised by our world-class independent regulator. The Government has announced a suite of additional supervisory measures the PRA will be taking forwards to hold insurers to account in maintaining safety, soundness, and policyholder protection.
Yes1 person thinks so
No0 people think not
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