UK insurers must reconsider product strategies, business models: S&P

According to S&P Global Ratings Inc., the U.K. insurance industry is ready for a revamp as uncertain economic conditions force non-life and life insurers in the country to reconsider their capital allocation, business models and product strategies, Reinsurance News reported. The agency added that insurers in the market face challenges in maintaining strong balance sheets and managing asset as well as liability risks.