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Axa Sun Life announces increase in new business

Axa Sun Life has posted a 35 per cent increase in new business to 149.1m for the first quarter of 1999, compared to £110.4m for the same period in 1998.

Total new sales were up 31 per cent to £140.1m from £106.7m for 1998. But it was single premium business which showed the greatest growth, up 56 per cent to £904.7m from £579.5m for last year.

New regular premiums also increased 12 per cent on last year.

But regular premium business from IFAs was down by 5 per cent for the quarter compared to single premium business which jumped 74 per cent to £762m from £439m for the same period last year.


First Active adds capped option to current account loan

First Active is adding a two-year capped rate from 5.99 per cent with no redemption penalties to its Current Account Mortgage.The flexible loan specialist has a standard variable rate of 6.24 per cent but says it is offering the cap in a bid to increase sales amid fierce competition.The mortgage will be available to IFAs […]

Regulator and former regulator clash

A regulator and former regulator have clashed over proposals to include mortgages within the Financial Services Authority&#39s remit.FSA consumer panel chairman Barbara Saunders called for mortgages and long term care to be regulated by the FSA in evidence to the Parliamentary scrutiny committee examining the Financial Services and Markets Bill.But former Securities and Investment Board […]

Firms join up to create logo for Cat standard Isa

Ten life offices and fund managers are banding together to create a standard industry logo for the Cat-standard Isa.The project, which is bac- ked by the Association of British Insurers and the Asso- ciation of Unit Trusts and Investment Funds, brings together large IFA life off- ices, fund managers, direct-sales offices and supermarket operations.The companies […]

Extension of income drawdown may be one answer to LTC

The royal commission on long-term care recently published its report. Yet only one page of it discussed the role pensions could play in paying for long-term care.This is a pity. I suspect the reason why the royal commission dismissed pensions so lightly is the fact that it recognised that most people have trouble funding their […]


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