UK Insurance: General (28 November 2016)

OAC Digest
HM Treasury, Non-Life, PRA / Bank of England

28 November 2016

Selected recent UK news items of more general interest: 

The Chancellor of the Exchequer gave his Autumn Statement to Parliament on 23 November.  HMT has published a range of related information including a summary. The announcements included rises in tax thresholds and a rise in the standard rate of IPT to 12% from 1 June 2017.

On 21 November, the PRA announced a consultation on plans to restore the limit of depositor protection provided by the Financial Services Compensation Scheme (FSCS) from £75,000 to £85,000 on 30 January 2017. The PRA considers that a "structural shift in the exchange rate" has occurred following the UK's vote to leave the EU.  (The increase broadly returns the limit to the value of 100,000 euros.) 

David Gray

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David Gray
Consultant Actuary

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