FSA and Treasury seek EU insurance views

The proposals, which include the creation of ‘colleges of supervisers’, aim to encourage “more effective group supervision” across EU insurers and reinsurers in a bid to provide better value for consumers. They represent the UK’s contribution to the development of prudential regulation of the EU insurance sector through the Solvency II process. The Government adds they are also an example of its determination to continue in its proportionate and risk-based approach to EU financial services rules. A key focus of the Discussion Paper is a proposal put forward by the Chancellor of the Ex...