Webb calls for industry backing against Solvency II

He also suggested that opposing the policies will be easier once their main cheerleader, Commissioner Michel Barnier, leaves office in 2014. Speaking at a conference last week, Webb said the UK has made progress in its campaign to reduce pressure on UK insurers and pension funds to comply with the unpopular parallel regimes, which would see both insurers and funds forced to hold greater capital. "Four countries feel like we do, but we do not have a blocking vote," Webb said. "The EU Trades Union Congress and the Confederation of British Industry have written to the EU about this, t...