Financial Services Financial Services

UK reforms have made insurers more vulnerable to collapse, BOE tells lawmakers

Insurers are 20 percent more likely to fail following the UK government’s decision to allow more capital release than the prudential regulator recommended, Bank of England Governor Andrew Bailey has told lawmakers.
The ongoing row over a capital calculation, which led to the government snubbing the BOE’s Prudential Regulation Authority

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Fiona Maxwell

Senior Correspondent

Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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