UK government to challenge EU over insurance rules
The UK government is set to challenge the EU commission head-on with regards to solvency II rules which are set to be introduced to the European marketplace in the short term. The UK government believes that these "over conservative" solvency rules will see UK insurance companies having to shore up their reserves by up to £50 billion. There will obviously be a cost to this additional reserve requirement, something which is likely to be met by customers.
The UK has one of the most competitive insurance markets in Europe and yet again many people are pointing the finger at the EU commission, which is determined to crack the UK financial markets and bring them under the regulatory control of the European Union. In effect this has already happened with the various treaties signed by European member states but the UK government is set to tackle this particular issue head-on as it will have a detrimental effect on the UK insurance sector, pensioners and future rates of investment return.
The issue of increasing reserve capital is a direct consequence of the credit crunch which saw a number of "solid assets" collapse like a pack of cards once the financial system began to seize up.
Abu Dhabi investors reduce exposure to Barclays bank
In a complicated financial transaction Abu Dhabi investors have reduced their stake in Barclays Bank after exercising various warrants available and then entering into a very complex hedging operation with Nomura. Effectively the Abu Dhabi investors have reduced their downside to Barclays Bank while still maintaining some upside with regards to their significant investment only a couple of years a...Read More
D-Day for George Osborne
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Even though the UK banking system has been knocked from pillar to post, criticised across the board and is ultimately in the firing line of UK regulators it may surprise many to learn that controversially the UK banking sector has shown itself to be stronger than the an amalgamation of the consumer, government and regulators.
It is noticeable that while the UK government and regulat...
Webchat Thursday 2pm: Student Finances with Alvin Hall
FinancialAdvice.co.uk is proud to present a live webchat with Alvin Hall this Thursday at 2pm. The webchat will take place here: www.financialadvice.co.uk/webchat.html. Alvin will be offering his expert advice to parents concerned about keeping their children's university budgets in the black.
The new university term really...
Have you considered pet insurance for your four-legged friend?
The UK has long been renowned as a pet loving nation and while pet insurance has increased in popularity over the years, there are still a significant number of pet owners who have not even considered let alone taken out pet insurance. Anybody who has taken their pet to the vet over the last few years would have seen a substantial increase in general veterinary care costs but what about specific o...Read More