Life insurance companies could struggle for profitability, a survey by the Confederation of British Industry has revealed.
The 101st Financial Services Survey, carried out with PwC, looks into the state of Britain’s financial sector.
It found there was overall negative feeling within the life insurance industry about its profitability.
A high percentage of firms also felt statutory legislation and regulation, as well as adequate systems capacity, would likely limit their ability to increase their level of business over the next 12 months.
There has been speculation about the future business models of some life insurance companies with the move away from annuities in the pension industry.
