Ageas UK CEO slams government over discount rate review
Ageas UK CEO Andy Watson has criticised the government’s handling of the recent discount rate review, saying decisions made by some insurers to release reserves in anticipation of a higher rate were “a reasonable thing to do”.
Ageas itself did not reserve on a projected rate of 0-1%, instead continuing on the basis of the previous minus 0.75% rate.
The eventual minus 0.25% rate announced last month resulted in a £27.6m
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