Prime minister slams EU capital regime as Prudential seeks UK exit

UK prime minister David Cameron hit out at Solvency II yesterday, dubbing the capital regime a “good example of ill thought-out EU legislation”.

Cameron made the comments at yesterday’s session of prime minister’s questions following news that UK life insurer Prudential was considering leaving the UK for Hong Kong to avoid cost associated with the EU’s pending new capital regime for insurers.

On 2 March, London mayor Boris Johnson wrote to Prudential chief executive Tidjane Thiam vowing to tackle the problems with Solvency II and urging him to keep the company in the UK.

Cameron said yesterday in reference to the Prudential news that Solvency II was “endangering a great British business that should have its headquarters in the UK”.

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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