BoE’s Woods says Solvency II not a revolution
Executive director examines historical changes in insurance regulation
Compared to past changes in the insurance sector, the advent of Solvency II actually "appears quite modest", according to the Bank of England's executive director of insurance supervision.
Sam Woods said there were "important technical differences" between the Individual Capital Adequacy Standards and Solvency II. Nonetheless, the "philosophy" remains one of "market-consistent capital regulation coupled with supervision".
"The good ship Solvency II has more up-to-date and useful features than
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