COMMONS

EU insurance regulation examined by Committee

25 January 2017

The Treasury Committee examines the Solvency II Directive with insurance and financial services providers.

Witnesses

Wednesday 25 January 2017, Wilson Room, Portcullis House

At 2.15pm

  • Nigel Wilson, Chief Executive Officer, Legal & General
  • Huw Evans, Director General, ABI
  • John Parry, Head of Finance, Lloyd's of London
  • Julian Adams, Group Regulatory Director, Prudential

Opportunity for greater control

Commenting on the inquiry, Rt Hon Andrew Tyrie MP, Chairman of the Treasury Committee, said:

"Brexit provides an opportunity for the UK to assume greater control of insurance regulation.

The Solvency II Directive came into force in January [2016], only after a heap of concerns had been expressed about it. Among its manifest shortcomings was the failure to secure value for money over its implementation.

The Treasury Committee will now take a look at the Brexit inheritance on insurance to see what improvements can be made in the interests of the consumer."

Further information

Image: iStockphoto

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