14th Jun 2016 06:27
LONDON (Alliance News) - Direct Line Insurance Group PLC on Tuesday said the UK Prudential Regulation Authority has approved its partial internal model for the Solvency II regulatory regime.
Direct Line said this will allow the group to operate under the partial internal model from July 1.
The insurer said further details on its Solvency II capital position will accompany its interim results, due on August 2.
Solvency II is a European Union-wide directive which focuses on the amount of capital European insurers need to hold to reduce the risk of insolvency.
By Sam Unsted; [email protected]; @SamUAtAlliance
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