Key quotes
“Planned Reforms include giving insurers greater flexibility to invest long-term assets like infrastructure and a “meaningful decrease in the current reporting burden and administrative burden.”
“EU regulation is no longer relevant to us and the government is determined that it will be fixed.”
“We have the opportunity to grow and maintain an innovative, vibrant insurance industry.”
Reaction of the market
GBP/USD traded at 1.3582 on Tuesday, down 0.1% from the previous day. This was due to Russia’s risk-aversion.
