The ABI has agreed to increase the price paid for GP reports in return for a more professional approach from doctors.The British Medical Association has agreed to provide a clause for GPs asking them to recognise that life insurance is a “social good” which benefits patients and it should be carried out to appropriate professional standards. A five-year deal has been agreed between the ABI and the BMA. For the first year, which starts from September 1, a GP report will cost £74.70 up from £70.50 and an examination will cost £82.20 up from £77.50.
Norwich Union has set off a fierce industry debate by offering 20 per cent up-front commission on regular-contribution business into its invest- ment funds.
Purely Mortgages has cut 19 of its 45 sales staff in a restructure at the broker.It is thought the firm is aiming to bring its costs down to a level that will see it make profit on a smaller turnover than originally projected.The staff that have lost their jobs are not employed by Purely but […]
The Government’s decision to axe home condition reports could double the cost of PI cover for home inspectors, according to PYV. Chief executive Neil Pointon says the Government’s U-turn could have an added effect of raising PI costs for home inspectors as fewer insurers are likely to enter the market, making cover harder to come […]
Fledgling wrap provider Nucleus is in late-stage discussions with a number of IFA firms and expects to have signed up a total of around 50 by the end of the year. Chief executive David Ferguson says Nucleus is in talks with 60 adviser firms but only around 75 per cent meet its criteria of being […]
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Standard Life Aberdeen has reported outflows of £31bn in its full year results, six months after the mega merger at the Scottish fund houses completed. In August 2017, Standard Life and Aberdeen Asset Management joined forces to become Standard Life Aberdeen, a giant global asset management powerhouse running £655bn assets. In its full year results, […]
Aviva has sold the rest of its Spanish businesses as it continues to pivot back towards the UK market. Aviva began disposing all of its Spanish life and pension businesses last September, following on from the sale of its Italian joint venture and offshore Friends Provident International businesses earlier in 2017. Since 2009, it has […]
Standard Life Aberdeen has sold its insurance arm to Phoenix in a £3bn deal. In the first results since the merger of Standard Life and Aberdeen Asset Management, the firm has said it has decided to exit the insurance market. Phoenix will pay a total of £2.3bn in cash for the business. Standard Life Aberdeen […]