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Life assurers were stress-tested

Life assurers were put through stress tests earlier this year, the Financial Services Authority (FSA) said yesterday for the first time. The FSA told insurance firms to test their capital resilience against a 2009 fall in equity values of 20 per cent, a drop in property values of 15 per cent, a rise in corporate bond yields of 0.5 per cent and a change in interest rates of 0.5 per cent in either direction.