Our written evidence for the Economic Affairs Committee has just been published here. What we say will be familiar ground for Eumaeus followers, so I won’t repeat it.
Note that one Rothesay Life publishes its SFCR in May, we will have an updated chart of the ‘real’ versus ‘not so real’ capital coverage ratios. The indication so far is that the gap continues to widen, i.e. more ‘not real’ less ‘real’. At some point the capital created by MA and other machinery may reach the size of the balance sheet itself, which will be the next wonder of the world and a triumph of science.