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Insurers’ capital requirements for green assets should factor in individual risks, BOE’s Gerken says

( April 29, 2021, 10:16 GMT | Official Statement) -- MLex Summary: Insurance capital requirements must be based on the risks in individual assets, the Bank of England’s insurance lead said today. Charlotte Gerken, executive director of insurance supervision at the Prudential Regulation Authority, the BOE’s supervisory arm, said a departure from such an approach for prudential requirements for green assets or productive finance “reduces the resilience of firms and potentially the wider financial system.” But the regulator is open to removing unnecessary barriers and plans to review Solvency II’s matching adjustment approvals process, she added in a speech today.Speech attached....

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