New AMP chief executive Andrew Mohl has cast doubt over up to 1000 UK jobs by calling into question the strength of the British insurance industry.
Mohl said its Pearl salesforce of cannot continue in the medium term in its current form. His comments infuriated the FSA by alleging that several firms have breached solvency rules.
The FSA took the step last month of publicly declaring that several insurers were able to withstand the plunging stock markets.
Last week, the FSA's John Tiner said that no other major firms other than Pearl were operating below the regulator's solvency margins.
Mohl said: "We find it strange. There are a dozen other companies, if not more, who are in a similar or worse predicament. We find it unfortunate that our position is known when we are pretty much one of the pack.
"We know from our discussions with the FSA that we are one of a number of companies who are either at risk or have breached the regulatory requirements."
An FSA spokesman said: "We have no idea what Mr Mohl is referring to or where he is getting his information. Certainly not from the FSA. We reiterate that life offices have a significant ability to withstand further large falls in equity values."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
