UK insurance capital rules are broadly right, says Bank of England

LONDON, Feb 10 (Reuters) - Britain's insurers are broadly
holding the right amount of capital to protect policyholders and
there is no appetite to tear up the rules after Brexit, the Bank
of England said on Wednesday

Britain is reviewing the "Solvency II" rules that it
inherited from the European Union amid calls from insurers and
lawmakers for changes to keep the sector competitive.

"We are committed to upholding the principles of Solvency II
– they are our principles, and given the amount invested by
firms in implementing the Solvency II regime, we see no appetite
to tear them up and start again," said Anna Sweeney, the BoE's
executive director for insurance.

(Reporting by Huw Jones; Editing by Jon Boyle)