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Since 1995, life assurance and pensions firms have been required to submit information to regulators concerning the persistency of their life assurance and pensions business
A subsidiary of Standard Life plc which provides pension and life assurance products to retail customers has been fined £2,450,000 for breaches of FSA Principle 3 and Principle 7 (reduced from £3,500,000 for early settlement
Abbey Life, which is owned by Deutsche Bank, has agreed to take over the longevity risks (that is, the risk of pensioners living longer than actuarially expected) of nearly £3bn of pensions liabilities from BMW's UK pension scheme
