FSA Do have a use!!!

[FTSE Beater]

Hi all.

I read this article in the Times yesterday http://www.timesonline.co.uk/article/0,,5-562014,00.htmland it made me realise that there are some sensible people in the FSA.

The best quote was

Henri de Castries, chief executive of AXA, said: “The solvency margin is intended as a cushion. If you cannot use it in times like we are in now, what is the point of having it?”

Now a few of you will know that I have a passion for hating insurance companies - but it is good to know the FSA have put forward a logical suggestion. Otherwise it's like putting money aside for flood damage, only to find that when a flood happens, you can't get hold of the money - just in case another flood comes

Well done the FSA IMHO