Insurance Age

UK insurance industry remains strong says ABI

The UK insurance industry has remained strong despite current financial turbulence, according to the Association of British Insurers (ABI). As a result of updated business models and less reliance on equity holdings, the association said the insurance industry had fared better this time around than in the 2003 economic downturn. The ABI also credited the Financial Services Authority's enhanced risk controls. It warned, however, that the industry must not be complacent as the market conditions wi