Bank of England rules out big capital reduction for insurers after Brexit

The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be "part of the answer" to meeting a 1.7 billion pound bill for COVID-19 claims.
 

Britain is reviewing the "Solvency II" rules for firms like Aviva, RSA and Lloyd's of London insurance market that it inherited from the European Union amid calls from insurers and lawmakers for changes to keep the sector competitive.
 

"We are committed to upholding the principles of Solvency II – they are our principles, and given the amount invested by firms in