New data shows lower underlying capital levels of British insurers

LONDON British insurers published measures of their capital strength without the benefit of phasing-in arrangements on Friday, with analysts warning some firms might eventually have to cut dividends or abandon share buybacks to boost their reserves.

Stringent European Union capital rules for insurers introduced last year allow for so-called transitional measures, to phase in the impact of the rules to 2032.

But new more detailed reporting requirements have given analysts the first chance to see insurers’ “look-through” ratios calculated without the use of transitional measures, data which has already been seen by

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