Insurers call on govt to 'refine not replace' Solvency II

In response to the Treasury Select Committee inquiry into Solvency II, the Association of British Insurers (ABI) noted Solvency II is broadly fit-for-purpose for the UK market. There is no appetite from its members to withdraw from or completely replace it.  Following more than ten years of implementation, costing more than £3bn or equivalent to £140 per insured household, the focus should instead be on making changes that would help customers, support investment in infrastructure to grow the economy, and ensure the UK remains globally competitive and a leader in the insurance market....