The UK's Financial Conduct Authority (FCA) is expecting there to be "significant issues" with closed books among life insurance providers under the incoming Consumer Duty, reports International Investment's sister brand Cover. Speaking at the Association of British Insurers' (ABI) annual conference on 21 February, Matt Brewis, head of insurance at the FCA, highlighted two key areas the regulator is currently focusing on in the run-up to the Consumer Duty's implementation. Brewis said the FCA anticipates there will be "significant issues" for life insurance providers with large volume...
To continue reading this article...
Join International Investment
Signup and gain exclusive members-only insights
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
