Rothesay’s chairman (Naguib Kheraj) has written to the Financial Times saying that the policyholders and experts’ letter to the PRA “contains so many inaccuracies as to be unhelpful and irresponsible”.
The letter refers to the supporting table (below) as misleading, although it was compiled from regulatory returns, and interestingly states that the views put forward in the letter “contradict a wide and mature school of commonly accepted financial theory and practice that is used across financial services”.
We shall be replying in kind. The PRA letter is still not published following legal threats to the signatories.
