Insurance firms welcome CP195


The FSA’s new rules on how UK with-profits life assurance companies should account for the risk of holding corporate bonds, released at the start of July, appear to be good news for insurance companies and credit derivatives.

As the rules were released real-money managers began ploughing their way through the 362-page document while bank analysts worked furiously to provide initial numbers of how the regulation would affect the corporate bonds.

The regulation – first set out in CP195 – require

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