31 December 2008
The ABI has applauded Gordon Brown and David Cameron for their efforts to stimulate saving in the UK, but says there is still a need for a savings culture.
Changes to guidelines on rights issues by the Association of British Insurers could lead to a fresh wave of capital raising by firms, says Seven Investment Management director Justin Urquhart Stewart.
Level annuity rates for women, inflation-linked annuity rates and rates for smokers have all come down over the past month, according to Alexander Forbes Annuity Bureau.
Industry experts predict big name banks will increase their dominance of the mortgage market in 2009 as building societies struggle to compete.
Consultancy firm BMC Profiles is enhancing its online platform to include a cash flow calculator for clients.
The British Virgin Islands have gained recognition from the Caribbean Financial Action Task Force for their commitment in the fight against money laundering and the financing of terrorism.
The National Pharmacy Association has appointed current Exeter Friendly Society chairman Chris Ide as chairman of its insurance board.
Demand for life insurance and income protection products for expats is set to soar in 2009, says William Russell.
Fidelity’s special situations fund portfolio manager Sanjeev Shah is capitalising on the bottom-up stock picking environment and increasing his exposure to financials.
Assurant Solutions Intermediary has appointed former BM Solutions managing director Nigel Payne as its managing director.
Friends Provident is now offering its company pension schemes two types of fund ranges in a bid to get people to engage with their pensions.
Friends Provident chief executive Trevor Matthews has refused to rule out the possibility of the insurer being taken over in 2009.
The Financial Services Authority has announced it will not be renewing its ban on short selling of financial stocks.
The FSA is hosting a retail distribution review seminar for financial advisers in Edinburgh to outline the major changes it is planning to make to the retail investment market.
The Department for Business, Enterprise and Regulatory Reform is urging UK firms to start 2009 with a business MOT.
The waiting period for support for mortgage interest paid to those facing a sudden loss of earnings has been cut from nine to three months.
HM Revenue & Customs has appointed four new non-executive directors to its board.
A new year has signalled a new name for Norwich Union in the UK, to be rebranded Aviva in June this year. Internationally, the firm has been known as Aviva for several years and the listed company has gone by the name since 2002.
James Hay has scrapped plans to use InfoComp for its eSipp and wrap back office administration.
The Lehman Brothers UK sub prime mortgage book is up for sale after it reportedly failed to deleverage the books of both SPML and Preferred Mortgages.
Liberal Democrat Shadow Chancellor Vince Cable has warned that house prices could still fall another 20 per cent.
The Liberal Democrats have blasted the decision by the FSA to lift the short selling ban on financial stocks.
Libor rates continued to fall over the Christmas period and into the New Year.
Last year former FSA chief executive John Tiner celebrated a CBE in the Queen's New Year's honours list but it was always unlikely any of the regulator's staff would feature this year.
The Federal Reserve Bank of New York has today begun to purchase fixed-rate mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac.
The Bank of England has revealed that net lending to individuals in the UK increased slightly in November 2008, but still remains extremely muted.
Norwich Union Healthcare has enhanced its Optimum private medical insurance product.
Defined contribution pension savings are below 8 per cent in 55 per cent of small firms and a third of firms contributing more than this are expecting to level-down ahead of 2012, according to the Association of Consulting Actuaries.
Pink Home Loans has urged more lenders to launch London Interbank Offered Rates linked mortgage products.
The Association of Private Client Investment Managers and Stockbrokers is changing the weightings of its FTSE APCIMS index to reflect a downturn in commercial property investment.
New Star economist Simon Ward has predicted that the recession could be abated within six months if the Government makes policy changes.
Savills Lending Solutions, the subsidiary of Savills Private Finance, has launched a bridging package which claims to be able to provide funds with only one hour’s notice.
Standard Life group chief executive Sandy Crombie received a knighthood for services to the insurance industry in Scotland in the Queen’s New Year’s honours list.
Standard Life has confirmed that its stakeholder with-profits payouts values plummeted by around 10 per cent after it reduced the amount of smoothing on the fund last month.
Tenet has announced the appointment of Andy Richards as managing director of the group's asset management arm Sinfonia.
Axa-backed IFA Thinc Group launches today as Bluefin Advisory Services bringing together the firm’s advisory businesses with PIFC, EB Consultants, Orbit Benefits and SBJ Benefit Consultants.
The Conservatives have proposed scrapping income tax on savings for basic rate taxpayers.
The WAY Group has made its core IHT plans, the flexible inheritor plan, the ‘gifts from income’ inheritor plan and the inheritor loan plan, available on Ascentric’s wrap platform.