LONDON, Nov 24 (Reuters) - Nigel Wilson, the chief executive
of British insurer Legal & General, said on Tuesday he
backed potential changes to the way the industry is regulated
after the end of Britain's Brexit transition period with the
European Union.
Wilson told the Reuters Events Future of Insurance Europe
conference he backed a Bank of England review into the Solvency
II capital rules that the sector currently operates under,
including expanding the range of assets insurers could hold.
Other parts of the current regime were "overly technical"
and could be "moderated" whilst still reaching the same outcome,
and would not be "capital arbitrage or regulatory arbitrage".
Wilson also said the "very bizarre" rules around the
so-called risk margin could comfortably be changed.
(Reporting by Simon Jessop; editing by Carolyn Cohn)