View more on these topics

20 per cent boost in life industry sales

Sales of life insurance, pensions and investment totaled £9.5bn in the third quarter of 1999, an increase of 20 per cent on 1998.


Overall the value of life insurance policies sold rose 31 per cent to £6.5bn, while pension sales fell by eight per cent to £1.3bn.


Sales of Isas and Oeics were also up eight per cent to £1.6bn, but insurance sales slowed, with 34,000 new accounts opened.


ABI director general Mary Francis says: “Insurers have had another good quarter. One feature is the drop in sales of pensions. Consumers may be deferring this type of saving until they know more about stakeholder plans.”

Recommended

Misys goes virtual

Misys is setting up a virtual financial services brokerage competing with its own networks according to a report by its broker Morgan Stanley Dean Witter obtained by Money Marketing.The report describes the plans as the “killer category in the internet universe” and compares it to direct services in the US which compete with financial advisers […]

Admin blunders cost IFAs £4m a week

Britain&#39s IFAs are losing nearly £4m a week and wasting more than an hour a day because of shoddy administration by product providers.IFAs, whose estimated pre-tax average earnings are £35 an hour, are losing almost 15 per cent of their income every day because incompetent back office staff are bungling the administration of so many […]

Pru goes green with investments

The Prudential is to start taking social and environmental factors into consideration when investing in companies.The Prudential Portfolio Managers investment arm of the life office will screen all potential UK equity investments using a broad light green criteria drawn up by the Ethical Investment Research Service.

Widows windfall woes

Scottish Widows policyholders are to pick up smaller cash windfalls than expected from the Lloyds TSB deal.The Edinburgh-based life office is to receive £300m less from Lloyds TSB because of a need to strengthen assets which are used to back policies.The 1.6m Widows policyholders are now expected to pick up an average £3,375 each compared […]

How do you choose the best online service?

By Ross Jackson, senior marketing manager There are many different protection online services available in the market and no doubt you’ll have used a few when submitting protection business. But why should you have to put up with slow, unresponsive sites for your business when you’re used to dealing with slick, modern user experiences in your […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment