16 APRIL 1994, Page 26

They can't refuse

THE SINGLE European market brings with it the concept of a passport. This will allow the licences and qualifications of one country to be acceptable in all of them. The prospect is causing concern in the staid world of the City's actuaries. They fear competition from Sicily, where the notion of the level playing-field has never taken hold. An actuary's professional skill is to estimate expectations of life. Sicilian actu- aries can throw in the names and addresses.