The Association of British Insurers (ABI) has endorsed the European Commission's new approach to the single market for financial services.
The ABI's deputy director general Stephen Sklaroff said the Commission's Green Paper on financial services policy was a “breath of fresh air.”
"The European consumer has a lot to gain from open competition within the European Union between financial services companies,” he said.
“Consumers have little to gain from more regulation and red tape. The Green Paper strikes the right balance - now we need to see the results."