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UK proposes reducing EU capital rules burden for insurers

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U.K.'s financial regulator the Prudential Regulation Authority has proposed easing the burden of European Union Solvency II capital rules for insurers, Reuters reported. "The PRA believes that these proposals would, in particular, reduce the reporting burden for smaller insurers," the regulator said. U.K. lawmakers have called upon the regulator to ease the "risk margin", an add-on capital requirement to cover what a third party would need to safeguard policies if an insurer goes bust.

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