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Axa successfully secures acquisition of Thinc Group

Axa’s bid for Thinc Group has finally gone through after more than 96.2 per cent of Thinc shareholders accepted the French insurance giant’s offer.
Thinc will cost Axa up to £100m. The insurer placed a formal offer of £70m for Thinc based on its performance in 2009 and pledged a further £30m to refinance its debt and provide working capital.
This is Axa’s first foray into the UK distribution market and was exclusively revealed by Money Marketing in July.
Thinc chief executive Simon Chamberlain and fellow directors and major shareholders Neil Harkin and Gregg Taylor could pick up more than £5m apiece from the deal.
Thinc has 200 multi-tied advisers and 500 IFAs.


Providers must leave it to advisers

I find it incredibles that the FSA has called for product providers to take more responsibility for the quality of advice that is given by advisers. The FSA will be aware that the advice process primarily begins with (among other things) a fact-find, possibly supplementary questionnaires, full discussion with the client, recommendations, further discussions, decisions […]

Seven up

The underlying funds held within the three Adviser Fund indices were subject to significant change at the AFI rebal-ancing on November 1. Across the three indices, 41 of new funds not present in the AFI panellists’ portfolio recommendations were added from the rebalancing point. The new AFI constituents also include funds from seven asset management […]


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