Axa is snapping up Japanese life insurer Nippon Dantai in a £2bn deal. The French insurer, which owns Sun Life in the UK, will call the new company Axa Nichidan Insurance. It is the first Japanese acquisition by Axa.
Prudential is set to hit the acquisitions trial as it bids to become the Goliath of life offices and win the battle for survival in the next millennium.It says life offices will only survive if they become giant organisations offering a full range of financial services and products or tailor their services to become specialised […]
The cost of owning your own home has fallen throughout the UK apart from London.Cheltenham & Gloucester's latest 'Affordability Index' shows Londoners pay £35 out of every £100 of take home pay a £1 increase on the pervious index.C & G say the increase in property prices has been more than outweighed by low interest […]
M&E Network is writing to its 350 plus member firms warning against recommending mutual life offices to obtain potential windfalls.The network states the mutual status of a company “MUST NOT” form any part of a recommendation and is threatening “remedial action” if it's proved a policy has been sold on that basis.The move comes against […]
Legal & General has refused to defend itself in response to a volley of complaints from frustrated IFAs about its administration bungles. MM's switchboard was swamped with calls from IFAs invited to ring our hotline with their stories of suffering from shoddy administration at the hands of product providers.The life office topped Money Marketing's 'Roll […]
In 2016, Cormac Weldon expects the economy in the US to favour selected smaller companies in housing, airlines and technology.
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology