Insurers must check capital levels as rates stay soft in 2016: Bank of England

Chris Moulder, the Bank of England's director of general insurance, said that insurers must check their capital levels as insurance premiums will likely continue to soften in 2016, reported Reuters.

"We see premium rates in several lines continue to fall and, at the same time, extended terms and conditions are being accepted," said Mr. Moulder.

It is important that insurers "that are looking to expand in current market conditions do so in a responsible and sustainable manner," said Mr. Moulder.

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