Insurance firms have 20% higher chance of failure due to Solvency II reforms: BoE
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Insurance firms have 20% higher chance of failure due to Solvency II reforms: BoE

Aisling Finn
06 March 2023
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Houses Of Parliament in the morning

Proposed Solvency II reforms increase the annual chance of an insurance firm collapsing by around 20%, from 0.5% to 0.6%, the Bank of England has told the Treasury Committee.

In a letter published today, the Governor of the Bank of England argued that the government’s plan to overhaul Solvency II rules, which reduce how much capital life insurers must hold to protect themselves against bankruptcy, increase a firm’s...

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