THE REGULATION OF LIFE ASSURERS IN A LOW SOLVENCY ENVIRONMENT: THE UK EXPERIENCE |
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| Authors: | Chris O'Brien |
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| Affiliation: | Chris O'Brien is director of the Centre for Risk and Insurance Studies, Nottingham University Business School. Formerly an appointed actuary, he is author of a number of actuarial papers. |
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| Abstract: | When adverse financial conditions mean that many life assurers have sharply reduced solvency levels, a number of new issues arise for regulators, including the basic issue of how solvency is measured. There are also issues about life assurers' investments, and their products and how they are priced. Lastly, the regulator (in the UK, the Financial Services Authority) needs to ensure that customers and their advisers have suitable information about the solvency of the firms they are dealing with. |
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