Source · Select Committees · Treasury Committee
Recommendation 11
11
Paragraph: 84
The Treasury should, as part of its review of Solvency II, consider reforms that could...
Conclusion
The Treasury should, as part of its review of Solvency II, consider reforms that could improve the funding of sustainable green infrastructure while maintaining the financial stability of insurers.
Paragraph Reference:
84
Government Response
Acknowledged
HM Government
Acknowledged
The Government agrees with this recommendation. The Government wants to see a prudential regulatory regime for the insurance sector that is more proportionate and flexible so that it works more effectively and outcomes can be delivered more efficiently. Such a regime would provide a solid foundation for insurance firms to provide long-term capital to the economy including investment in long-term productive assets as well as investment consistent with the Government’s climate change objectives. The Government published a response to its Call for Evidence on Solvency II on 1 July 2021, setting out the next steps in spurring a vibrant and competitive insurance sector without compromising high standards of policyholder protection.