LONDON, July 9 (Reuters) – The Bank of England (BoE) said on Tuesday it would increase scrutiny of risks such as bulk purchase annuities, or insurers taking over company defined benefit pension schemes, a growth area in the sector.
Gareth Truran, the BoE’s executive director for insurance, said bulk purchase annuities had changed the dynamics of the insurance market, which could bring “particular risk management challenges” that would need a “high level of scrutiny”.
Source: REUTER
