Tussle over UK insurance regs heats up ahead of Brexit

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Tussle over UK insurance regs heats up ahead of Brexit

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File photo dated 27/06/17 of Sam Woods, head of the Bank of England's Prudential Regulation Authority (PRA), who has said that 10,000 financial services jobs could go on the first day of Brexit and that an independent report predicting a loss of 75,000 positions was "plausible". | Jonathan Brady/PA Wire/PA Images

The UK’s Prudential Regulation Authority is standing its ground over its interpretation of Solvency II amid pressure from politicians and industry bodies. But on issues ranging from insurers’ capital requirements and assets to the UK’s departure from the EU and even what the PRA’s objectives should be, there is lively debate over how a future regulatory regime should look.

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