FCA demands insurers' data in latest phase of annuity probe

The regulator began major review of the £11bn annuity market earlier this year in its former incarnation, the Financial Services Authority (FSA) (PP Online, 31 January). An FCA spokesman today confirmed the next stage of the investigation is to write to insurers asking for data on their annuity rates, how they write business, and who their customers are to help the watchdog "build a comprehensive picture". He said a report on the market is likely to be published in the second half of 2013. This comes after the National Association of Pension Funds (NAPF) said employers and trustees...