Pension trustees preparing to comply with the revision of the EU directive on Institutions for Occupational Retirement Provision (IORP) are facing challenges as a result of the UKs Europe in/out referendum, an event was told.
The standard formula should be a good fit for most UK insurance firms when complying with Solvency II, but firms still need to assess whether it is appropriate, an actuary has warned.
The creditor insurance industry in the UK has been in decline due to the payment protection insurance (PPI) mis-selling scandal and is unlikely to recover, according to a report by data provider Timetric.