You are here: Home - News -

ABI calls for European hurdles to be lowered

by:
  • 18/11/2002
  • 0
Regulation reducing obstacles to doing business in Europe should be the key priority for the Europea...

Regulation reducing obstacles to doing business in Europe should be the key priority for the European Union (EU), according to the Association of British Insurers (ABI).

The European Issues Index, a survey conducted by the ABI, that puts forward views of chief executives of British insurance companies, found there is a strong wish to expand across Europe.

Germany is seen as the most attractive EU market. It is the second-largest insurance retail market after the UK, and is aided by its vibrant mortgage market.

However, the survey found significant obstacles to doing EU business. While 29% cited lack of access to distribution channels as the main obstacle, 22% of chief executives cited the level of regulation as their biggest hurdle.

The situation could be helped by the implementation of EU-wide solvency rules. One-third (34%) of chief executives saw this as the most-needed piece of regulation with a further 30% wanting EU-wide conduct of business rules.

Mary Francis, director general of the ABI, said: ‘The UK retail market is the largest in the EU. Our members are well-placed to seize opportunities across Europe as the single market develops, either through cross-border selling, or through subsidies. However, recent regulation from Brussels has increased the burden of regulation in the UK and across the EU without creating genuine new commercial opportunities.’


Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Consumer confidence converging across UK

Consumer confidence in the North and South of the UK is beginning to converge, according to the Wool...

Close