Solvency II plans must be moved on: Phoenix boss

LOUIS GOSS

ANDY Briggs, the boss of Phoenix Group, has called on the government and regulators not to allow “momentum” on Solvency II reforms to be lost in an article for City

A.M. (right).

It comes amid rumblings of discontent that changes to the regime are moving too slowly or being diluted.

At a dinner speech last week, Sam Woods, the head of the UK’s insurance regulator, outlined the current state of the government’s planned Solvency II reforms.

As they stand, the main benefit for the insurance sector will be in letting UK insurers invest capital they are required to hold on their balance sheets