§ Mr. FrenchTo ask the President of the Board of Trade if he will list the regulatory organisations within his Department which have a responsibility in relation to composite insurance companies; and if he will indicate their responsibilities. [36035]
§ Mr. NelsonThe regulatory responsibilities of the Department in relation to composite insurance companies as such fall to the insurance directorate of the DTI, which carries out prudential regulation including, in the case of long-term business, safeguarding the reasonable expectations of policyholders under the Insurance Companies Act 1982 and related legislation.