FSA updates life firms on market volatility tests

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UK - The Financial Services Authority (FSA) has written to the chief executives and appointed actuaries of all life insurance companies and friendly societies to update them on how the FSA suggests they test the ability of their investment portfolios to cope with possible adverse market movements.

In light of extreme equity market volatility, from September 24 the FSA suspended some specific tests for firms in assessing what sort of adverse market movements their investment portfolios could ...

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