The recent falls and continued volatility in equity markets have reduced the solvency of UK life off...
The recent falls and continued volatility in equity markets have reduced the solvency of UK life offices, resulting in a 2% decline in free asset ratios (FAR) in 2002, according to financial consultants Mercer Oliver Wyman. However, the firm said concern over the financial solvency of the sector is exaggerated and if all the life offices make maximum use of their future profits, the average FAR at year-end 2002 will improve.
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