According to the Association of British Insurers (ABI), the insurance industry is still in a strong position and will remain resilient despite other financial services struggling during the credit crunch.
The association suggests that in the future this should continue as long as the industry complies with a few key principles set out in insurance regulations.
Companies should make protecting policyholders a main objective and there should be enhanced co-operation between supervisors of international insurance companies.
Stephen Haddrill, director general of the ABI, said that although there are difficult market conditions "the insurance industry stands ready to work with the supervisory authorities around these principles" as maintaining them is "the best basis for protecting policyholders on an ongoing basis".
This morning the Guardian reported that the FTSE 100 index made a strong recovery this morning, however there are still signs that other areas of the economy are suffering.
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