Solvency

The get-tough attitude of the FSA in response to the credit crunch has produced a second successive year of record breaking fines.

Insurance intermediaries have come under fire from the FSA for having inadequate financial resources.

Little-known changes to the way provider tax is calculated under Solvency II will push up premiums with no added benefit to customers, LV='s head of protection says.

Solvency II will spur a wave of merger and acquisition (M&A) activity among insurers, PricewaterhouseCoopers (PwC) predicts.

Building societies are near to finalising an investment instrument which would enable them to meet strict new capital requirements without losing their mutual status.

German reinsurer Munich Re said as of 19 January the Sage of Omaha holds options which could push his voting rights in the company to 5.029%.