UK insurers garner £60bn benefit from Solvency II adjustment waivers
The Prudential Regulatory Authority of the Bank of England allowed UK insurers to garner benefits equivalent to nearly half their total capital through work-arounds to European Union rules, according to chief Sam Woods. (FT)

Barclays awaits regulatory nod for African subsidiary sale
Barclays is awaiting an approval from South African regulators for the sale of its African unit, in which the UK lender owns a stake of about 50%, it has emerged. The exit from Barclays Africa is likely to cost the UK bank up to ‎£1bn, according to analysts. (FT)