ABI: we will not be complacent but the insurance industry remains strong

Responding to recent reports on the status of UK insurers, Peter Vipond, director of regulation at the ABI said: "The British insurance industry entered the current period of market turbulence in a far stronger position than in 2003. Firms have, for example, changed their business models and now rely far less on equity holdings.

"Above all, working with the Financial Services Authority, firms have introduced a new generation of risk controls, which require them to use realistic numbers for

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