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ABI welcomes the report from the Productive Finance Working Group

The Productive Finance Working Group, co-chaired by the Governor of the Bank, the Chief Executive of the FCA, and the Economic Secretary to HM Treasury and of which the Association of British Insurers (ABI) is a member, has today published 'A Roadmap for increasing productive finance investment'. The report includes four recommendations, underpinned by 13 specific actions, with a focus on supporting DC pension schemes to invest and developing the long-term asset fund (LTAF) structure.

Charlotte Clark, ABI Director of Regulation, says:

CharlotteClarkphoto500x500.jpg“We welcome today’s Productive Finance Working Group report. If fully implemented, the recommendations set out in this report would further help our sector to play an even more meaningful role in supporting economic growth and would boost returns to savers in retirement. As important to this agenda are the targeted reforms of the Solvency II regime also represents a key opportunity to increase investment in productive finance assets with ABI analysis suggesting that up to £95 billion in capital could be redirected to do so. We have greatly appreciated the constructive opportunity to discuss important reforms between industry, regulators and the Government and hope this collaborative model can be replicated as we work together to enable the vital transition to net zero and support the levelling-up agenda.”

 

 

 

Further information:

press_office@abi.org.uk

www.abi.org.uk 


Last updated 27/09/2021