'One size fits all' regulation "makes no sense" says Breedon

ABI chairman Tim Breedon says Solvency II regulation could cost large insurance firms at least £100m to implement, reports the Telegraph.

But Breedon says, while the regulation will benefit consumers, costs need to be kept to a minimum.

Breedon also criticised the Government’s plan for regulation for banking and insurance to be conducted by the bank of England after the dissolution of the FSA.

In the Telegraph, Breedon wrote: “‘One size fits all’ regulation makes no sense, intellectually or in practice, when the risks each sector runs are so profoundly different.”

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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