General Insurance Article - ABI welcomes the Governments energy strategy

The ABI supports the Government’s plans to strengthen energy independence as set out in the British energy security strategy.

 Charlotte Clark, ABI Director of Regulation, says: “We support the Government’s plans to strengthen energy independence and our own sustainable energy supply to help tackle climate change and the cost of living crisis, whilst ensuring we’re more resilient to geo-political events beyond our control. As investors, insurance and long-term savings providers have an important role to play in helping to provide capital to fund green infrastructure projects.

 We welcome the strong signal this provides on the pipeline of energy projects and our members are eager to work with the newly created ‘Great British Nuclear’ and the wider energy sector to unlock our sector’s investment capacity. A meaningful reform of Solvency II would substantially increase the capacity of insurers in providing long-term capital to underpin investments consistent with the Government’s energy strategy.”

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