Life can only get better
This year saw the life balloon burst as insurers watched the huge reserves they amassed in the late 1990s disappear almost overnight in the post-11 September stock market slump. With consumer confidence flagging due to the Equitable debacle, stakeholder and mis-selling scandals, 2002 has been tough, says Francis Higney.
A timebomb within the UK life industry exploded in spectacular stylein 2002, with aftershocks in various quarters including endowments,
with-profits policies and FRS17. It could be argued that the
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