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OLDWICK, N.J.–(BUSINESS WIRE)–Apr 11, 2019–In this episode of AM BestTV, Tony Silverman, associate director of analytics, AM Best, said that despite possible complications from Brexit, the market segment outlook for the U.K. life insurance sector remains stable. Click on http://www.ambest.com/v.asp?v=U.K.life419 to view the entire program.
Silverman discussed AM Best‚Äôs reasons for maintaining a stable outlook on the U.K. life insurance sector.
‚ÄúThe U.K. life sector has actually quite a positive outlook on its two main products, which are annuities and bulk annuities, as well as the defined contribution pensioned market,‚ÄĚ said Silverman. ‚ÄúHowever, there are Brexit-related investment risks. There are problematic aspects of solvency too, which could perhaps be tackled on a U.K.-specific basis after Brexit.‚ÄĚ
Silverman spoke further about the U.K. life sector‚Äôs focus on pensions.
‚ÄúThe U.K. life sector used to be involved with non-pension savings in the form of investment bonds with profit product. Now it is focused on the pension segment. There is a degree of fragility to that business model. There is the regulatory risk that goes with pensions. Pension regulation is something that is subject to political influence. Additionally, AM Best sees a likelihood of increased investment risk with pensions going forward.‚ÄĚ
To access a copy of this market segment report, titled, ‚ÄúMarket Segment Outlook: U.K. Life‚ÄĚ, visit http://www3.ambest.com/bestweek/purchase.asp?record_code=284219.
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KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE INSURANCE
SOURCE: AM Best
Copyright Business Wire 2019.
PUB: 04/11/2019 02:11 PM/DISC: 04/11/2019 02:11 PM