Regulator rings alarm bells about ditching Solvency II

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The Prudential Regulation Authority has warned MPs that ditching Solvency II requirements will increase the risk of an insurer going bust and the taxpayer being forced to pick-up the bill.

Sam Woods, chief executive of the Prudential Regulation Authority, told the Treasury select committee yesterday that the City watchdog and the government had “different views” on how a Brexit bonfire

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