The FSA is urging the industry to provide forward-projecting income and risk profiles, in the likelihood of a persistent low interest rate and low growth economic environment.
Speaking at the Lloyd's Insurance Regulation conference on 26 October, the FSA's Julian Adams said the current economic climate was driving an "absolute paramount" focus on underwriting performance in the sector.
People tend to be "mean-reverters" and anticipate that the economy will bounce back to its previous state, Adams said.
But he warned:...
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