UK's FSA proposes changes to requirements for Tier 1 capital

04/27/2010 | Risk.net (subscription required)

UK insurers have been bolstering their capital base through the use of cashless financial reinsurance. The trend prompted the Financial Services Authority to propose that CFR, which does not include any upfront costs, no longer be counted as Tier 1 capital. The FSA's proposals, which would come into effect in October, are subject to discussions with the insurance industry.

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