The Association of British Insurers says today's consultation paper published by the FSA is in line ...
The Association of British Insurers says today's consultation paper published by the FSA is in line with its own thinking on the issue of capital requirements and the need for more flexible ways for life companies to calculate risks.
The implementation of the so-called "twin peaks" approach, in which companies calculate their capital positions in two different ways, and the demands for more capital assessment should result in better handling of risk, the ABI says.
Proposed changes to the way with profits funds are calculated are also welcomed as a better way to ensure that guaranteed benefits are met and terminal bonuses are covered.
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