Open letter from the Prime Minister and Chancellor to industry

The ABI has responded to the Prime Minister and Chancellor's open letter calling on UK institutional investors to consider investing a greater proportion of their capital in long-term UK assets to support the economic recovery.

Charlotte Clark, ABI Director of Regulation says:

'We agree the insurance and pensions sector has a significant role to play in the UK's economic recovery and we welcome this call from the Prime Minister and Chancellor. Analysis has shown that up to £95bn could be freed to boost the UK economy and help tackle climate change if reforms are made to Solvency II. We look forward to working further with the Government to loosen this overly-prescriptive regime so that our industry can do more to help.'

For information:

Further details on the analysis - published in February 2021 - can be found here.

To contact the ABI Press Office, please email [email protected].