BoE warns insurers on temptations of tapping reserves

December 2, 2015 4:10 PM

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LONDON Dec 2 The Bank of England warned Britain's insurers on Wednesday not to dip into their reserves to flatter earnings if this undermines resilience to market shocks.

Chris Moulder, director of general insurance at the BoE's Prudential Regulation Authority (PRA), said some insurers may be tempted to increase releases of reserves, rely on top line growth or purchase specific forms of reinsurance to meet business plan and market expectations of profitability.

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