Scottish Widows backs Solvency II reform

The reform packages intend to introduce a "simpler, clearer, and much more tailored regime" and cut the required risk margin significantly, with a 65% cut for long-term life insurance business. It also aims to increase investment flexibility by overhauling eligibility rules for the matching adjustments. In a meeting held by the provider today (1 December), Craig Thornton, chief investment officer at Scottish Widows, will discuss with the city minister, Andrew Griffith MP, what the changes and opportunities of the reforms will mean as well as the impact it will have on the business and...