Bank of England okays capital calculation models of 19 insurers
Aviva, Prudential and Lloyd's among those that can use internal methods to meet EU Solvency II rules
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
London
BRITISH insurers Aviva and Prudential and the Lloyd's of London insurance market were among 19 firms to have their capital calculation models approved by the Bank of England (BOE) on Saturday, enabling them to lower costs under new rules.
Approval means the insurers can use their internal models to determine how much capital they hold to ensure they can meet policyholder commitments under European Union Solvency II capital rules that come into force next month.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
