The Financial Services Authority (FSA) is demanding mutual insurers prove they have a viable future amid concerns over declining sales. The FSA has even written to all 57 mutual insurers and friendly societies suggesting that some societies should consider winding themselves up. If a mutual is unable to continue to effect new business on terms which also enable the existing with-profits business to run off fairly, it may be required to close to all new business. The biggest mutual societies, such as Royal London and LV, are not expected to have any difficulty complying.
What's better? Private or NHS healthcare?