PRA chief sets out future vision for insurance

In a speech entitled, Is the insurance industry safe in the PRA's hands?, he told an audience at Lloyd's that he hoped updates from the Bank of England and the FSA throughout the year had addressed concerns that a subsidiary of the Bank "might somehow fail to appreciate that insurance companies and banks are different." He continued: "And indeed in many respects general insurance and life insurance are as fundamentally different from each other as both are from banks. These differences need to be reflected in the way in which such firms are supervised." Mr Adams informed the audience ...