Chancellor in talks with UK insurers as he seeks to ditch EU rules and unlock vast sums for UK infrastructure
Investment drive: Chancellor Rishi Sunak
The Chancellor met with leading insurers yesterday as he seeks to unlock vast sums for investment in UK infrastructure.
Rishi Sunak and Economic Secretary to the Treasury John Glen met the bosses of Aviva, Legal & General, Lloyd’s of London and the Association of British Insurers among others.
The meeting came as Britain looks to ditch EU rules governing the insurance sector known as ‘Solvency II’.
This has been identified by Sunak as ripe for reform and would hand insurance companies greater flexibility when making investments – enabling them to plough billions into major infrastructure projects.