Money Marketing
31 December 2008

  • In briefCanada Life offers eight times salary

    1 Jan 2009

    Canada Life Group Insurance has updated its offering through its online business portal CLASS with enhancements on its Group Life Product (eGLA). This now offers eight times salary multiples, available in 0.5 increments, as well as fixed lump sum benefits of £50,000 and £100,000.

  • Thomsons links into Axa and Widows

    1 Jan 2009

    Thomsons Online Benefits is launching a new XML pension joining process with both Axa and Scottish Widows, available exclusively through its Perquisite software. Thomsons already has XML links to Aegon Scottish Equitable, Friends Provident, Standard Life and Scottish Life.

  • A delicate balance

    1 Jan 2009

    The FSA would perhaps consider the RDR to be incomplete without including an investigation into the key principles in the retail group pensions market.

  • A hammer for a nut?

    1 Jan 2009

    The RDR Feedback Statement has, for the group pensions sector, asked more questions than it has answered. James Phillipps examines where it might lead

  • ABI applauds Brown/Cameron for promoting saving in the UK

    6 Jan 2009

    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.

  • ABI changes could prompt wave of rights issues

    5 Jan 2009

    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.

  • AFFS's Marlow makes the top of Kilimanjaro

    1 Jan 2009

    Alexander Forbes Financial Services marketing director David Marlow has just completed a climb of Kilimanjaro, the highest mountain in Africa, in aid of charity.

  • An end to the evil that is bias

    1 Jan 2009

    Although it's certainly been a long time coming, the publication of the latest update on the Retail Distribution Review at the end of November turned out to be worth waiting for. While it would have been easy to put money on the FSA fudging the important issues - given its poor track record when it comes to regulation of the financial advice market - the report, in fact, did exactly what it had promised to do, laying out a clear plan to bring an end to one of the financial services industry's ..

  • Annuity rates come down again, says Alexander Forbes

    5 Jan 2009

    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.

  • Better by default

    1 Jan 2009

  • Big banks set to dominate mortgage market in 2009

    5 Jan 2009

    Industry experts predict big name banks will increase their dominance of the mortgage market in 2009 as building societies struggle to compete.

  • BMC Profiles unveils plans to enhance PlanLab

    6 Jan 2009

    Consultancy firm BMC Profiles is enhancing its online platform to include a cash flow calculator for clients.

  • British Virgin Islands gain CFATF recognition for robust regulatory framework

    6 Jan 2009

    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.

  • CBI calls for independent commission on unfunded state pensions

    1 Jan 2009

    The government must come clean to taxpayers about the ballooning cost of public sector pensions, which are running up a trillion pound tab, the CBI has warned.

  • Child's pay

    1 Jan 2009

    As family finances take a battering, parents can ditch Sky Movies, forsake their daily latte or cancel their Fitness First membership.But they cannot stop looking after their children.

  • Db out in the cold

    1 Jan 2009

    The lid of the coffin of final salary schemes is by now so studded with nails that there can barely be any wood left visible. But the worsening financial situation, coupled with the government's refusal to budge on indexation look set to see 2009 become the year of closure to future accrual.

  • Employees 'hoodwinked' into pensions

    1 Jan 2009

    Modern workplace pensions are " hoodwinking unsuspecting workers" who do not understand them, according to Ros Altmann, the independent pensions consultant.

  • End of year flurry of activity for bulk annuity sector

    1 Jan 2009

    The bulk annuity market lurched back into life in the final month of 2008 when the trustee of the Thorn Pension Fund completed a landmark £1 billion contract with Pension Insurance Corporation (PIC).

  • Exeter Friendly Society chairman joins NPA insurance board.

    6 Jan 2009

    The National Pharmacy Association has appointed current Exeter Friendly Society chairman Chris Ide as chairman of its insurance board.

  • Ex-pat protection set to soar, says William Russell

    5 Jan 2009

    Demand for life insurance and income protection products for expats is set to soar in 2009, says William Russell.

  • Fidelity's special situations fund increases exposure to financials

    5 Jan 2009

    Fidelity’s special situations fund portfolio manager Sanjeev Shah is capitalising on the bottom-up stock picking environment and increasing his exposure to financials.

  • Former BM Solutions managing director joins Assurant Solutions Intermediary

    5 Jan 2009

    Assurant Solutions Intermediary has appointed former BM Solutions managing director Nigel Payne as its managing director.

  • Friends Provident offers core and additional fund ranges for corporate pensions

    5 Jan 2009

    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 Prov's Matthews refuses to rule out takeover in 2009

    5 Jan 2009

    Friends Provident chief executive Trevor Matthews has refused to rule out the possibility of the insurer being taken over in 2009.

  • FSA to end short selling ban

    6 Jan 2009

    The Financial Services Authority has announced it will not be renewing its ban on short selling of financial stocks.

  • FSA to host RDR seminar in Edinburgh

    6 Jan 2009

    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.

  • Government encourages more firms to have business MOT

    6 Jan 2009

    The Department for Business, Enterprise and Regulatory Reform is urging UK firms to start 2009 with a business MOT.

  • Govt shortens wait for mortgage interest support

    5 Jan 2009

    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.

  • GP advice line "can cut staff absence by two-thirds"

    1 Jan 2009

    Offering employees a GP advice line can cut staff absence by more than two-thirds, according to new figures from HSF. The research, collated by Medical Solutions, HSF's independent GP advice line provider , showed 70 per cent of consultations result in the patient having an effective diagnosis and course of action without referral to another medical professional.

  • GP advice line “can cut staff absence by two-thirds

    1 Jan 2009

    Offering employees a GP advice line can cut staff absence by more than two-thirds, according to new figures from HSF.

  • Hewitt appoints Cox to head up UK and Ireland

    1 Jan 2009

    Hewitt is appointing Andy Cox as managing director for the UK and Ireland. He succeeds Yvan Legris who has been appointed as one of Hewitt's global presidents.

  • HMRC appoints four non-executive directors

    5 Jan 2009

    HM Revenue & Customs has appointed four new non-executive directors to its board.

  • Hollywood hand for company rebrand

    6 Jan 2009

    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.

  • IBM to manage Friends Provident's IT requirements in £200m ten year deal

    1 Jan 2009

    A busy end to 2009 has seen Friends Provident a deal with IBM to manage its IT requirements and deliver its future infrastructure services in a 10-year deal worth £200 million.

  • James Hay drops InfoComp from wrap

    6 Jan 2009

    James Hay has scrapped plans to use InfoComp for its eSipp and wrap back office administration.

  • Lehman Brothers UK mortgage book in fire sale

    6 Jan 2009

    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.

  • Lib Dems' Cable says house prices could still fall 20%

    6 Jan 2009

    Liberal Democrat Shadow Chancellor Vince Cable has warned that house prices could still fall another 20 per cent.

  • Lib Dems slam FSA's end to shorting ban

    6 Jan 2009

    The Liberal Democrats have blasted the decision by the FSA to lift the short selling ban on financial stocks.

  • Libor continues to fall in 2009

    5 Jan 2009

    Libor rates continued to fall over the Christmas period and into the New Year.

  • More cover for expats from William Russell

    1 Jan 2009

    International expatriate insurance specialist William Russell has launched new international private medical insurance plans with improved benefits for expats and their families. Enhanced benefits include wider cover for organ transplants, chronic conditions, cancer treatment, maternity and dental care.

  • More cover for expats from William Russell

    1 Jan 2009

    IInternational expatriate insurance specialist William Russell has launched new international private medical insurance plans with improved benefits for expats and their families.

  • Moving with the times

    1 Jan 2009

    In the intervening period the telecoms industry and financial regulation appear to have had completely opposite effects on the availability of their services. Back then cellular phones mobile telephony was the exclusive preserve of the very rich, with only a handful of the most affluent being able to afford telephones in their Rolls Royces.

  • New Year honours list ignores the City

    5 Jan 2009

    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.

  • New York Fed begins to buy up RMBS

    5 Jan 2009

    The Federal Reserve Bank of New York has today begun to purchase fixed-rate mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac.

  • November net lending on the up, says Bank

    5 Jan 2009

    The Bank of England has revealed that net lending to individuals in the UK increased slightly in November 2008, but still remains extremely muted.

  • NU enhances Optimum PMI

    6 Jan 2009

    Norwich Union Healthcare has enhanced its Optimum private medical insurance product.

  • Pension commitments a serious concern to four-fifths of UK companies

    1 Jan 2009

    Four out of five of companies are concerned about the impact of their pension commitments on cashflows and almost half are worried about strain on dividend payments, according to a new survey.

  • Pension savings dismal in small firms, says trade body

    5 Jan 2009

    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.

  • Pensions present 'clear and present danger' to corporates

    1 Jan 2009

    Pension risk is no longer just an inconvenience to corporate sponsors but an issue of life-threatening importance, says Hewitt Associates.

  • Pink calls for more Libor loans

    5 Jan 2009

    Pink Home Loans has urged more lenders to launch London Interbank Offered Rates linked mortgage products.

  • Property hit sees in shift in APCIMS indices

    6 Jan 2009

    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.

  • Protection needs to progress

    1 Jan 2009

    Having worked with providers in the group income protection marketplace for more than 15 years, I feel qualified to express frustration at the lack of product development and innovation.

  • Recession could end mid-2009, says New Star's Simon Ward

    5 Jan 2009

    New Star economist Simon Ward has predicted that the recession could be abated within six months if the Government makes policy changes.

  • Running out of options

    1 Jan 2009

    With company share prices in turmoil around the globe, many senior executives are likely to be wringing their hands as they watch the value of the shares they hold in their employer tumble before their eyes.

  • Savills Lending Solutions launches bridging package with Tiuta

    6 Jan 2009

    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.

  • Share scheme misery for staff

    1 Jan 2009

    Most employee share option schemes are worthless today with more than three quarters of FTSE100 companies' options above today's prices, according to Norton Rose.

  • Small self-administered scheme

    1 Jan 2009

    Premier Pension Services has seen increases in activity in relation to SSAS structures at a time when small business owners struggle to gain credit for their businesses from traditional sources because of the squeeze on credit.

  • Small self-administered scheme providers see surge

    1 Jan 2009

    Premier Pension Services has seen increases in activity in relation to SSAS structures at a time when small business owners struggle to gain credit for their businesses from traditional sources because of the squeeze on credit.

  • Standard Life chief Sandy Crombie knighted

    5 Jan 2009

    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 stakeholder with-profits payouts slashed by 10pc

    6 Jan 2009

    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.

  • Stressing the positive

    1 Jan 2009

    Attempting to quantify the impact of stress isn't much easier than trying to measure the proverbial piece of string. For example, at one extreme research from Legal & General has discovered that nearly a third of British workers are feeling stressed by their daily routine while at the other, PruHealth found that well over three quarters of British people are feeling under some degree of stress. Much obviously depends on how these surveys actually define stress.

  • Tenet appoints new MD for asset management arm

    6 Jan 2009

    Tenet has announced the appointment of Andy Richards as managing director of the group's asset management arm Sinfonia.

  • THE BIG QUESTION

    1 Jan 2009

  • The corporate agenda

    1 Jan 2009

    Salary sacrifice schemes are becoming ever more popular among employers striving to cut benefits costs in the current recession. While this popularity received a further boost with the Pre-Budget announcement of a 0.5 per cent increase in employers' and employees' NI from 2011, companies are increasingly taking the lion's share of the savings for themselves.

  • Thinc rebrands as Bluefin

    6 Jan 2009

    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.

  • Tories propose scrapping tax on savings for basic rate taxpayers

    5 Jan 2009

    The Conservatives have proposed scrapping income tax on savings for basic rate taxpayers.

  • Untangling top-ups

    1 Jan 2009

    The government's announcement that it is to lift the ban on topping up NHS has been warmly received across the health insurance industry. Many think the removal of the rule, which meant anyone who paid for part of their treatment would lose their right to any NHS care, will potentially open up the market to new products as well as increasing demand.

  • Ward leaves FP after restructure

    1 Jan 2009

    Jeremy Ward, head of pensions marketing at Friends Provident is leaving the life insurer at the end of March 2009 following a restructure of its UK operations.

  • WAY Group puts IHT plans on Ascentric wrap platform

    5 Jan 2009

    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.

  • Who is Steve Bee?

    1 Jan 2009

    Arguably the most famous person in the pensions industry, that's who. John Greenwood talks to Stephen Bee, the man behind a carefully constructed public persona

  • Wishing you an uneventful New Year

    1 Jan 2009

    Looking back at 2008 we can all reflect on an unprecedented year that none of us will ever forget. It may not be quite the stuff you will tell your grandchildren about, but working in financial services as we do, it will certainly live long in the memory.

  • Xafinity not at fault for pensions overpayment debacle

    1 Jan 2009

    Xafinity Paymaster has distanced itself from the government debacle surrounding the overpayment of pensions to around 95,000 civil servants.

  • Xafinity not at fault for pensions overpayment debacle

    1 Jan 2009

    Xafinity Paymaster has distanced itself from the government debacle surrounding the overpayment of pensions to around 95,000 civil servants.

  • Zurich majors on risk service

    1 Jan 2009

    Zurich's launch into the group risk market will see the provider focusing on group income protection and life lump sums.

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