Life - Articles - Paul Clarke, PwC, comments on FSA’s thematic annuuity review


 Paul Clarke, Partner, PwC said:
 
 “With the Life Insurance supervisory team leading the review, ultimately this provides the first indication of what insurance firms can start to expect from the Financial Conduct Authority.
 
 "Pricing of annuities is complex and how Solvency II will treat these products has yet to be determined, which creates uncertainty. Additionally, there is a tension between prudential regulation and market pricing. The uncertainty relating to the capital requirements under Solvency II and the capital regulators require firms to hold against bond default are both factors which will be considering in setting prices.
 
 "However, this review is important and arguably timely. With greater numbers of retirees and increased longevity, the significance of this area to an aging population is increasing."
  
 
  

Back to Index


Similar News to this Story

1 in 10 forget to remove their ex as their beneficiary
One in 10 divorcees have forgotten to remove their former spouse as the beneficiary of their life insurance policy (10%). Only 7% of people who divorc
FCA launches study on pure protection market providing value
The FCA has launched a market study into how well the distribution of pure protection insurance products – which support families with financial commi
Comment on FCA study of protection products to consumers
The FCA launched a new market study into distribution of pure protection products to retail consumers to discover if competition is working in the int

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.