Filed Under:Annuities, Fixed Indexed

U.K. insurers decline as FCA plans probe into ‘zombie’ policies

A wandering zombie at NYC-Comic-Con (Photo by Charles Sykes/Invision for AMC/AP Images)
A wandering zombie at NYC-Comic-Con (Photo by Charles Sykes/Invision for AMC/AP Images)

(Bloomberg) -- U.K. insurers had another $4.2 billion wiped off their market value today as regulators said they plan a probe into policies stretching back to the 1970s, the second government threat to earnings in as many weeks.

The Financial Conduct Authority will publish a plan of its priorities for this year on March 31 that will include an examination of how customers in the life-insurance market have been treated, the London-based regulator said in a statement.


‘Disorderly Market’

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Osborne scraps annuity rule in U.K. budget aimed at savers

In U.K., instead of being pushed to buy an annuity, 13 million savers will be able to withdraw their funds.

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Nichole Morford

Nichole Morford
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