Analysis

Briefing: Autumn Statement is not all good news for insurers

By Jon Guy 2022-11-23T13:03:00

autumn, london

Insurers with international operations or that work from the London market may face an uphill struggle when it comes to implementing the government’s new Solvency II requirements

Insurers will be breathing a sigh of relief over two big wins in last week’s Autumn Statement (17 November 2022) - however, one of these wins may not be as positive as the industry first thought.

The decision by current chancellor of the exchequer Jeremy Hunt to freeze insurance premium tax (IPT) at 12% was followed by an announcement about the solvency requirements set to replace Europe’s Solvency II regulation.

Explore more news analysis here or read up on regulation-related content here.

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