Solvency UK: the liability valuation package and mobilisation regime for insurers (June 2022)
Client Briefings
Introduction
Share
In June 2020, the UK Government announced an overhaul of insurance regulation dubbed 'Solvency UK' in a bid to increase flexibility and unlock capital for investment by insurers. Despite a Call for Evidence in October 2020 and a Feedback Statement in July 2021, no further details emerged. This was until a speech to the Association of British Insurers ("ABI") in February 2022 in which the Economic Secretary to the Treasury & City Minister, John Glen, announced the UK's direction of travel towards greater regulatory divergence from the EU in the following areas: the risk margin; the matching adjustment; and more generally, a reduction in reporting and administrative requirements.
