UK insurers’ op risk likely to fall under pillar-2 regime
LONDON -- The UK Financial Services Authority (FSA) is likely to use close supervision rather than capital charges to regulate operational risk in insurance companies, regulators said in early May.
They were commenting on a report issued by professional services firm KPMG urging that European regulators should develop a risk-based approach to capital adequacy in insurance companies, similar in principle to the Basle II banking accord.
The FSA, the UK’s principle financial watchdog, has already
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