UK life insurers pass BoE stress test with 64% hit to surplus capital

Sector deemed resilient, but plausibility of some management actions questioned

The UK’s top life insurers passed the Bank of England’s (BoE) latest market stress test, albeit at the cost of a 64% depletion in surplus capital by the simulation’s end-point.

The exercise – the first for the UK insurance sector in three years, and only the second to involve life insurers – subjected 16 firms to a severe market and longevity shock, split into four stages of severity.

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