Fr the complete report in the Guardian click on this link
FSA set to free life insurers from 'crude' solvency rules - by Phillip Inman
Some of Britain's biggest life insurers should be freed from "crude" solvency rules that force them to maintain huge reserves, according to a report by the chief financial regulator out this week.
Norwich Union, Prudential, and Legal & General are expected to be told they can release capital tied up in reserves to fund growth in other areas. According to some industry analysts, Friends Provident will be the biggest winner. But Prudential, which is under intense pressure to improve its profitability in the UK, is also likely to welcome the move.
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