Commenting on the launch of the Financial Conduct Authority's (FCA) Business Plan for 2014/15, the ABI said:
"The industry remains committed to working with regulators and the Government to ensure best outcomes for customers. To help achieve this the FCA should take a forward looking, long-term approach to regulation, building on its wide ranging business plan.
"This approach will help build up a stable investment environment which is crucial for both insurers and customers. It is also important, in the current economic climate, for the FCA to operate as cost effectively as possible."