Banking rules could damage insurance sector - ABI

clock

The ABI has warned the Treasury not to apply proposed prudential stability rules for the banking sector to its own members.

Insurers are worried the Chancellor may seek to read-across new rules for banks to insurance companies when they may not be suitable, and are also worried about the effects new regulation will have on competition. The ABI is keen to emphasis that insurance and banking are very different, with short-term liquidity risk not forming a major concern for insurance companies. It says a read-across of prudential stability solutions for the insurance sector could be damaging. "The Turner Review is an important milestone in the path to a new regulatory world," says ABI director general, Stephe...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Targeted support signals evolution in advice delivery

Targeted support signals evolution in advice delivery

Softer launches expected at first

Isabel Baxter
clock 10 April 2026 • 1 min read
CII: Vulnerable client management is 'an opportunity for growth'

CII: Vulnerable client management is 'an opportunity for growth'

Firms can expand potential client bases

Isabel Baxter
clock 07 April 2026 • 2 min read
Common language used by advisers triggers anxiety and distrust among retirees

Common language used by advisers triggers anxiety and distrust among retirees

Product-led communication one of the biggest drivers of mistrust

Laura Purkess
clock 01 April 2026 • 1 min read