AIG-backed Living Time operating 'as usual'

Chief executive Kim Lerche-Thomsen has moved to reassure clients the flexible annuity provider holds the same normal policy protections as any other UK firm. “Advisers should not be concerned because we are part of an entirely separate insurance arm, ALICO, which is regulated here in the UK,” he says. “We are authorised by the FSA and our policies all come under the FSCS safeguards.” Parent company AIG saw its share price plummet more than 60% on Monday and speculation is rife Warren Buffett’s Berkshire Hathaway vehicle is primed for a takeover. Living Time is part of the AIG Life brand...