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Axa turning Japanese

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.

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Pru on acquisition trail

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 […]

London bucks trend with boom in house costs

The cost of owning your own home has fallen throughout the UK apart from London.Cheltenham & Gloucester&#39s latest &#39Affordability Index&#39 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 […]

Don&#39t consider carpetbagging – M&E warning

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&#39s proved a policy has been sold on that basis.The move comes against […]

MM reveals life office roll of shame

Legal & General has refused to defend itself in response to a volley of complaints from frustrated IFAs about its administration bungles. MM&#39s 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&#39s &#39Roll […]

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