BUDGET 2012: Life insurers relieved at Budget

Life companies will however want to assess the impact of the restrictions announced to premiums into qualifying life policies.

She said: “The insurance-specific measures announced today were, in the main, wholly expected.

“For general insurers and Lloyd’s, the announcements on claims equalisation reserves and stop-loss arrangements confirm those already made in December 2011.

“For life insurers, the main interest will be when the Finance Bill is published next week and the amendments to the new life regime, as published in draft in December, can be assessed.”