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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Two Fidelity fund managers are facing accusations of sexual harassment and have left the asset manager in the past month, according to reports. Sources have told the Financial Times and the Wall Street Journal that complaints about sexual comments and behaviour led to two long-serving members of Fidelity’s $1.3trn equity division being pushed out. An […]
Advisers will soon have to tell the FCA how many esoteric investments they have recommended as part of their regulatory returns. The move comes as the FCA continues its review of Financial Services Compensation Scheme funding, and would allow the regulator to introduce risk-based levies if it chose to. FCA analysis shows that around a […]