Melville is a keen advocate of Solvency II reform in the UK that includes easing the standard Solvency Capital Requirement for real estate:

Melville asserts:

• Reform could free up insurers to help meet levelling-up ambitions

• Institutional real estate investors’ entrepreneurial DNA has much to contribute with investments in productive capital throughout the cycle: a win-win with government that enhances policyholder protection by increasing investment into such capital and makes opportunities more equal across the UK.
• The real estate industry must prioritise campaigning for this Solvency II reform.
• Government, please listen, progress with the PRA and enable the industry to make this contribution – and deliver on the package of Solvency II reforms, that includes easing of the SCR for real estate, sooner than later.

• See https://realassets.ipe.com/news/uk-solvency-ii-reform-must-ease-real-estate-requirements-and-quickly/10057851.article