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FSA likely to be in talks with other life offices says AKG

Consultant and Actuary group AKG says Standard Life is only one of the first insurers to find themselves in discussions with the FSA over solvency this year as a result of the new reporting regime, but many more will follow.

The comment follows an FSA statement that it is in talks with Standard Life about the calculation of its realistic balance sheet, saying that there has been a high level of engagement between the two.

AKG communications director Guy Vanner says: “It has probably been blown up out of proportion, but this is something we are going to see with a lot of insurers. We would suspect that Standard Life is having early discussions, but everybody will either be in discussions already, or will be shortly.”

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