View more on these topics

ABI criticises PRA power to protect future policyholders

The Association of British Insurers has criticised the Government’s decision for the Prudential Regulation Authority to protect future policyholders in its insurance objective.

The Financial Services Bill, published last week, gives the PRA the general objective of promoting the safety and soundness of firms and an insurance objective of contributing to securing an appropriate degree of protection for those who are or may become policyholders.

The insurance objective was only included after heavy lobbying from the ABI over concerns that the PRA would be too focused on banking regulation.

An ABI spokeswoman says: “They could be policyholders in two days or two years and so looking at capital and solvency, it is difficult to see how you protect policyholders who do not exist. How do you know what risk they pose? We would prefer it was not in there.

“Looking after people who may become policyholders makes sense on the conduct of business side but not on the prudential side.”



Tenet: Set aside differences and back a trade body

Tenet says IFAs need to put aside some of their differences and show support for a single trade body if they are to have a united voice and lobby effectively. At the Tenet conference in Windsor last week, distribution and development director Keith Richards said IFAs’ criticism of Aifa has stalled the trade body’s progress […]

Dave White

Head to head: Has the Sipp market plateaued?

Will 2012 see the end of the Sipp boom, as IFAs turn to SSASs to better meet their clients’ needs? Hornbuckle Mitchell’s David White and The Whitehall Group’s Richard Mattison go head to head.

Gregor Watt

Dividend data

Income has always been a part of a balanced investment strategy and the re-investment of dividends has been the basis of dramatic investment returns in the equity markets. Figures from Bestinvest show that £100 invested in equities in 1899 would be worth around £180 by 2011 without dividends re-invested but £24,133 with. But as investors […]

Ties that bind

People in contract-based schemes get the worst deal once again


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm