Summary
Friends Provident may have to strengthen its balance sheet to make up for the fact that its policyholders are living longer. The life insurer said it would take a decision after new UK mortality tables - which are expected to show that the death rate is falling at a faster rate than expected - are published at the end of the year.
'Depending on what the new data reveal, we may have to look again at our own numbers on mortality and make a decision as to whether we need to increase cover,' Friends Provident chief executive Keith Satchell said yesterday .See the full content of this document
Extract
Insurer to Consider Issue of Longevity
'We haven't felt the need to increase our provisioning at the half way stage. We're confident with our current...
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