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Central bank looks to ease Solvency II capital rule

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Sam Woods, deputy governor of central bank the Bank of England, said that Britain might unilaterally ease the European Union Solvency II rule that increases insurer capital requirements, Reuters reported. Mr. Woods said that the rule has tied up nearly $69 billion worth of insured liabilities. Meanwhile, insurers in the United Kingdom are shipping out longevity risk to offshore firms via reinsurance contracts to minimize risk margin capital.

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