We are the voice of insurance and long-term savings | Contact us

ABI welcomes Lord Myners speech

Responding to a speech by Lord Myners, Financial Services Secretary to the Treasury at the ABI, on Government's plans for responding to Solvency II, Peter Vipond, Director of Financial Regulation at the ABI, said


"Lord Myners is right to identify the huge contribution insurers make to society and the economy and the importance of the world-leading UK sector.  We welcome that the Government has now recognised how vital the Solvency II directive is for an effective UK insurance sector operating in Europe and the consumers it serves, including the value of the international competitiveness of the UK's wholesale market. 


"We agree with Lord Myners there is much left to do and are pleased with his promise that he will work tirelessly to ensure Solvency II is reformed to enhance the strength of the UK industry.  UK insurers are firm in their commitment to develop a successful Solvency II and will continue to work with the Treasury, FSA and European insurance colleagues to make sure this reform delivers on its promise to create a stronger future for the insurance industry."  


Last updated 01/07/2016