TITLE

Fitch fears effect of cash rules on annuity firms

AUTHOR(S)
Pow, Helen
PUB. DATE
September 2009
SOURCE
Money Marketing;9/10/2009, p15
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the impact of Solvency II proposals on annuity providers in Great Britain. Association of British Insurers director general wrote a letter to Chancellor Alistair Darling in August 2009, warning that the said proposals would force insurers to increase their capital reserves from 30 billion pounds to 70 billion pounds. Fitch senior director David Powe states that the amount involve in Solvency II would seriously affect annuity providers as it will mitigate lobbying.
ACCESSION #
44384200

 

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