LONDON, July 9 (Reuters) - The Bank of England said on Tuesday it will increase scrutiny of risks such as 'bulk purchase annuities' or insurers taking over company defined benefit pension schemes, a growth area in the sector.
Gareth Truran, BoE's executive director for insurance, said bulk growth annuities have changed the dynamics of the insurance market, which can bring "particular risk management challenges" that will need a "high level of scrutiny."
(Reporting by Huw Jones; Editing by Jon Boyle)
