Politics

Treasury plans to double Solvency II threshold

Post-Brexit divergence from EU rules continues as government looks to break new ground for UK insurers

Economic secretary to the Treasury John Glen is spearheading a drive to free up UK insurance assets in the wake of Brexit
Economic secretary to the Treasury John Glen is spearheading a drive to free up UK insurance assets in the wake of Brexit Photo: Chris Ratcliffe/Getty Images

The government is planning to double the threshold at which Solvency II regulations apply to UK insurers as part of a wide-ranging overhaul of the regime.

In a 28 April consultation, the Treasury said that it wanted to hike the current limits of €5m in annual gross written premium and €25m in gross technical provisions before the regime applies.

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