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Insurers need removal of UK barriers to entry, PRA’s Sweeney says

By Fiona Maxwell ( May 25, 2021, 15:14 GMT | Insight) -- Removing insurers’ barriers to entry into the UK market is a focus for the PRA, executive director Anna Sweeney said today. The regulator is considering easing the application process for new entrants, as well as a simpler regime for smaller players to limit the regulatory burden on startups. Sweeney also said there is no “secret plan” for capital requirements for green investments, but officials were turning their minds to that subject.Removing insurers’ barriers to entry into the UK market is a focus for the Prudential Regulation Authority, executive director Anna Sweeney said today, as the regulator looks to encourage post-Brexit competition in the industry....

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