Regulator warns about health of insurance industry

UK - The Financial Services Authority has warned that it is important for the long-term health of the insurance industry and clients that its capital base is strengthened.

Sir Howard Davies, chairman of the City regulator, yesterday said: "That is bound to require some increases in premium rates. However, the industry will clearly need to satisfy customers that it is doing what it can to control its own costs."

Addressing the Association of Insurance and Risk Managers, he said there were two

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