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Most U.K. insurers consider Solvency II capital rules as "necessary evil": Poll

July 9, 2014 - 6:00am

A poll by Grant Thornton International Ltd. has shown that most U.K. insurers believe that the European Union's Solvency II capital regulations are a "necessary evil," reports The Telegraph.

Simon Sheaf, head of actuarial and risk at Grant Thornton, said the industry is "begrudgingly" recognizing that the new rules "will bring some benefits."

But almost two-thirds of insurers in the poll said the benefits would not justify the related costs.

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