(Adds analyst, detail, Prudential no-comment, shares)
LONDON, Oct 18 (Reuters) - Insurer Aviva said onTuesday it did not expect to take "significant" action afterBritain's regulator said some firms needed to review their salesof annuities to ensure people got the right deal.
Rival Standard Life said on Monday it had been askedby the Financial Conduct Authority to look again at its salesafter the regulator conducted an industry-wide review of salespractices.
The FCA carried out the review because it was concerned thatpeople in ill health may not have been told about so-calledenhanced annuities, which offer a higher annual income to thosewith lower life expectancy. It said it did not find anindustry-wide problem with annuity sales.
"We welcome the announcement from the FCA," a spokeswomanfor Aviva said in an emailed statement to Reuters.
"Our work is primarily focused on supporting further futureimprovements to the market, rather than on retrospective action.We don't anticipate having to take any significant retrospectiveaction," she said.
Legal & General, another rival, has also said it was"pleased" with the outcome of the review.
The FCA said after its review that some firms needed to lookagain at their sales of annuities from 2008 onwards andcompensate people if they did not get the right deal.
Analysts at Jefferies estimated Standard Life would need topay compensation of around 120 million pounds ($147 million) andalso expects Prudential would have to pay compensation,estimating it at around 200 million pounds.
"The impact of any compensation ... is manageable," theysaid in a note.
A Prudential spokesman declined to comment.
Standard Life's shares dropped nearly 4 percent on Mondaybut were up 1.2 percent at 329 pence at 1227 GMT on Tuesday, inline with the FTSE 100 index. Aviva's shares were up0.16 percent at 439 pence. ($1 = 0.8150 pounds) (Reporting by Carolyn Cohn and Simon Jessop, editing by SineadCruise and Susan Fenton)