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Sam Woods discusses implementation of UK Solvency II reforms

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Published on: 21 February 2023

Published by LNB News

LNB News 21/02/2023

Document Information

Issue Date: 21 February 2023

Published Date: 21 February 2023

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Bank of England (BoE) has published a speech by its deputy governor for prudential regulation and CEO of the Prudential Regulation Authority (PRA), Sam Woods, on the next steps for reforming the Solvency II insurance regulations in the UK (referred to as Solvency UK). Woods discussed the government’s position on risk margin and the fundamental spread, saying while it was not what the PRA had sought, it is time to ‘move on from the debate and into implementation’. He also set out the competitiveness and growth elements of the reforms.

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