L&G ponders move outside EU

21 December 2009
By Tracey Scott

Legal and General is considering moving its corporate operations outside Europe to avoid Solvency II, according to press reports.

The Sunday Telegraph says the life company is “exploring” the option of moving its HQ outside Europe to avoid the Solvency II framework, which sets out requirements on capital adequacy and risk management for insurers.

If L&G relocates it will be following in the footsteps of insurers Brit and Hiscox, firms who changed domicile to Holland and Bermuda.

http://www.moneymarketing.co.uk/lg-ponders-move-outside-eu/1004288.article