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U.K. to cut red tape for foreign insurers

December 6, 2013 - 6:00am

U.K. financial regulators are cutting red tape for foreign insurers locating in the United Kingdom, Reuters reported.

The regulators have pledged to ensure that the authorization process "for prospective insurers is as streamlined as possible," U.K.'s finance ministry said. The government expects planned corporate tax cuts will attract more businesses to the country.

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