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Barclays allies with L&G

Barclays has announced the closure of its life insurance division after signing an alliance with Legal & General to sell its branded life and pension products.

The closure will result in the loss of 750 jobs in London and the south east of England. Barclays will become L&G&#39s largest distributor and hopes to double its sales of long term savings, protection and investment products within four years.

Barclays denies it plans to acquire L&G, but believes the alliance will prompt further tie-ups between banks and assurers.


Find clicks with 77% boost

Financial website directory saw a 77 per cent increase in the numbers of hits it received in the last quarter of 2000 compared with the previous year. The directory says the total number of people clicking through from the Find site to linked finance product providers during the fourth quarter rose to 521,000 from […]

Axa launches three new equity funds

Axa is launching three new aggressively managed equity funds as part of its attempt to become a top-five provider in the retail mutual funds market. The Oeic based funds will also be available as Isas. The funds are UK opportunities, world opportunities and European opportunities. AXA Fund Managers investment marketing head Mick Stirrup says: “The […]

Equitable gains from shift to bonds

Equitable Life has made a £14m gain as a result of being forced to move its investments from shares to government bonds following the House of Lords judgment last July. Equitable was forced to move share investments into government bonds to ensure that guarantees to policyholders are backed by safe investments. Consequently the company missed […]

Will Axa herald dawn of the online multi-tie?

The news that Axa is establishing a website to advise customers on its own and competitor products has fuel led speculation that it is planning to reposition itself as an online multi-tie. The move has prompted experts such as Financial Tech nology Centre director Ian McKenna to predict that Axa&#39s strategy could be the thin […]

Protecting long-term savings from short-term policy

By Jamie Clark, Business Development Manager The pensions revolution is almost upon us. As with any revolution, there will be winners and losers. The winners in this case could presumably be the politicians that orchestrated pensions freedom and choice just before the general election. As for the losers, there may be many thousands of people […]


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