Budget 2011: Life premiums 'could rise up to 30%' - RGA

The reinsurer believes plans unveiled in the budget to remove protection business from the ‘I minus E' tax regime will lead to premium increases. However, Friends Provident felt the move would result in a more level playing field for new entrants to the market. David Gulland, managing director of RGA explained the range of factors that he felt could drive life cover premiums up. "We've seen the recent European Court of Justice ruling on gender, and now the industry also needs to adapt to changes in the tax regime, such as I-E, which take effect from the end of next year," he said. ...