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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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]