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ABI does not expect FSA to force insurers to raise capital

The Association of British Insurers says it does not believe the insurance sector will be forced to raise capital by the FSA.

Responding to reports that life companies fear they may be forced to sell shares in a tumbling market in order to meet the regulator’s stress-testing requirements, a spokesman for the FSA asserted that the sector is in “robust financial health”.

There are concerns that if life offices are forced to sell equities in poor market conditions it could have a knock-on effect of damaging the value of pensioners and investors’ assets.

An ABI spokesman says: “We are certainly not complacent and individual companies may choose to take their own measures, but we do not expect there to be any need for enforced capital raising.

“It is right that the FSA is keeping a close eye on markets.”


Disclosure needs demarcation

Aifa has called for the regulator to rewrite the current disclosure regime to prevent tied advisers from passing themselves off as independent.

Knight may hold off to 2011

Checkmate Mortgages executive chairman Stephen Knight says he will wait until 2011 if he has to before launching the firm.

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]


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