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2003•SSRN Electronic JournalOpen access

The Regulation of Life Assurers in a Low Solvency Environment: The UK Experience

Christopher O’Brien

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Abstract

When adverse financial conditions mean that many life assurers have sharply reduced solvency levels, a number of new issues arise for regulators, including the basic issue of how solvency is measured. There are also issues about life assurers' investments, and their products and how they are priced. Lastly, the regulator (in the UK, the Financial Services Authority) needs to ensure that customers and their advisers have suitable information about the solvency of the firms they are dealing with.

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What this paper is about

When adverse financial conditions mean that many life assurers have sharply reduced solvency levels, a number of new issues arise for regulators, including the basic issue of how solvency is measured. There are also issues about life assurers' investments, and their products and how they are priced. Lastly, the regulator (in the UK, the Financial Services Authority) needs to ensure that customers and their advisers have suitable information about the solvency of the firms they are dealing with.

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Available abstract

When adverse financial conditions mean that many life assurers have sharply reduced solvency levels, a number of new issues arise for regulators, including the basic issue of how solvency is measured. There are also issues about life assurers' investments, and their products and how they are priced. Lastly, the regulator (in the UK, the Financial Services Authority) needs to ensure that customers and their advisers have suitable information about the solvency of the firms they are dealing with.

Key concepts: Solvency, Business, Financial services, Solvency ratio, Finance, Actuarial science, Accounting, Market liquidity

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