Life offices able to withstand further market falls, says FSA

The FSA has moved to reassure investors pension providers can withstand another sizable drop in the stock market. John Tiner, managing director at the FSA, said: 'Life offices have significant ability to withstand further large falls in equity values.' This confidence remains, the regulator said, despite a 16% fall in the FTSE 100 in 2001 and a further 19% fall in the first seven months of 2002. The comments came in a progress report published by the FSA last week into its ongoing overhaul of the way that it regulates life companies. The FSA's confidence in the strength of life com...