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AIG subsidiary swoops for Ocean Finance

AIG subsidiary American General Finance Corporation has bought Ocean Finance and Mortgages for an undisclosed sum.

The deal, which is subject to regulatory approval, was confirmed on Friday afternoon and adds to the insurer’s increasing influence in the UK. It follows months of speculation regarding Ocean’s future.

Law firm Norton Rose has been advising on the deal and its partner James Bateson says: “This deal will be highly significant for AGF, representing its first move outside its home market of North America.

“This deal will give AGF the opportunity to bring its financial strength and experience in consumer financing and other credit-related products to the UK.”


Coming to terms

Pension term assurance Advisers could find the new tax-efficient alternative to traditional term insurance a useful addition to their armoury but it is important to be aware of its limitations and the restrictions on giving advice, says Samantha Downes

Winterthur bolsters adviser support in the South-East

Winterthur Life has appointed Samantha Bannister as sales consultant to bolster its adviser support services in the South-East.Bannister joins from a sales consultancy position at Scottish Equitable where she was responsible for developing relationships with key accounts in Surrey.Winterthur director of distribution David Thompson says: “Winterthur has seen a significant increase in business following A-Day, […]

The mirror on FPIL’s wall

Friends Provident International has added a mirror fund of the BlackRock Merrill Lynch World Mining fund to its fund range.

Zurich adds 40 new funds to range

Zurich International Life is adding 40 new funds to its mirror and international wealth account platforms.The firm is aiming to increase its global investment presence and will introduce Schroder, JP Morgan and Henderson funds.The funds will be available from November and will focus on emerging markets, property, European funds and bonds. Zurich International Life chief […]

State of the markets: UK equity income

Artemis Income Fund manager Nick Shenton discusses the state of the UK equity income market with journalist Alexis Xydias. With the first three months of 2015 showing strong returns for both the Artemis Income Fund and UK markets generally, Nick Shenton discusses the fund’s top contributors – including overseas holdings Novartis and Bayer – and […]


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