Solvency II must not harm competitiveness – Hoban
Policymakers putting the final touches to the Solvency II regime must ensure that European (re)insurers are not put at a disadvantage against their global competitors, UK City minister Mark Hoban has said.
Hoban said that the updated level 2 agreement represented "significant progress" for the UK insurance industry, and had addressed many of the concerns raised by the Treasury, the Financial Services Authority and the Association of British Insurers in Brussels.
Speaking at a Solvency II event in London, Hoban...
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