The capital position of the UK's largest with-profits houses is improving, the FSA has revealed. Firms' aggregate surplus assets over liabilities, measured on the FSA's "realistic basis", had improved by 16% at the 2004 year-end. David Strachan, FSA sector leader for insurance, said: "The second half of 2004 saw major progress by the largest firms under our new realistic reporting requirements. The stronger market conditions have played their part, but this is also an indication of firms getting to grips with the new requirements." The FSA introduced new capital requirements for insurers...
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