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Avelo remains top portal for quotations and transactions

Consultancy group AT8 says Avelo remains the leading quotation and transaction portal in the market both in terms of market share of quotations and electronic applications.

Its survey of activity on quotation and transaction portals shows Avelo claimed 60 per cent of quote responses in the year to June 2011 compared with 56 per cent in the previous year.

Avelo had the highest market share of e-applications with 48 per cent in 2011 despite a drop from 53 per cent in 2010.

Assureweb is the secondbiggest portal with 21 per cent of quote responses, up from 18 per cent. Assureweb’s market share of e-applications stayed at 29 per cent.

Webline’s quotation volumes declined from 24 per cent to 18 per cent but e-applications increased from 16 per cent to 21 per cent.

True Potential’s share of quote responses fell from 2 per cent to 1 per cent while e-application levels stayed at 2 per cent.

AT8 executive director Mark Loosmore says: “Our survey shows that quotation and transaction portals continue to add value, particularly for ratedriven products such as protection and annuities.”



Ministers tackle womens’ state pension issue

Government ministers are in final-stage negotiations to decide transitional arrangements for women affected by the accelerated increase in the state pension age, according to reports. Campaigners have been pressuring policymakers for months over the issue after it emerged the decision to raise the state pension age for men and women to 66 by 2020, six […]

MPC voted unanimously to keep interest rates on hold

All nine members of the Bank of England’s Monetary Policy Committee voted to keep interest rates on hold at 0.5 per cent in September, the latest minutes show. This is the second month all nine members have voted to keep interest rates on hold. MPC member Adam Posen once again called for a further £50bn […]


FSA cracks down on tweets

The FSA is taking a hard line on financial services firms advertising products on Twitter. Money Marketing’s sister publication Mortgage Strategy reports the regulator has told a number of brokers and distributors to amend or remove tweets on the social networking website. Money Marketing understands the regulator’s concerns extend to other areas of financial services. […]

KPMG to lead UBS fraud investigation

The FSA has appointed KPMG to head an independent investigation into the UBS £1.5bn unauthorised trading scandal. The Financial Times reports that people familiar with the matter say the regulator and the Swiss Financial Market Supervisory Authority have asked the auditing and consulting firm to investigate the alleged unauthorised trading by UBS trader Kweku Adoboli. […]

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