Amlin warns on strict new rules

THE CHIEF executive of Amlin, the Lloyd’s of London insurer, has warned he could move the firm overseas if regulations set to be introduced in 2013 are too aggressive.

Charles Philipps said any attempts by UK regulators to aggressively enforce strict European Solvency II capital requirements could force Amlin to relocate.

In an interview with the Daily Telegraph he said: “If as a result of operating here we require more capital, or we have to carry significantly greater costs, than that could force a review of where we locate.”