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Bloomer reveals bank link talks

Prudential says it is in talks with banks to set up formal bancassurance links in preparation for life after polarisation.

Speaking at a presentation marking Pru&#39s first quarter results last week in London, chief executive Jonathan Bloomer sparked speculation over the possible identities of these partners by claiming it was in discussions with a number of banks.

He claimed the company&#39s financial strength and product range put it in a strong position if multi-ties came about.

Pru is the only remaining big life company not to have a signed a distribution deal with a bank but has denied media speculation linking it with HSBC, the other major company without a bancassurance deal.

Pru group media relations manager Clare Staley says: “What we are saying is do not be surprised if we are talking to banks and if the banks are talking to us. We do not know what is going to happen post-polarisation and we are not about to make an announcement. Everyone is wondering what is going to happen and we want to be prepared. I do not know where the references to HSBC came from but we do not comment on market speculation.”


New IFA sales manager for Jupiter

Jupiter has appointed Simon Hynes as nationals and networks sales manager, a role created as part of its IFA support team expansion plans. Hynes joins from Foreign & Colonial, where he was regional sales manager responsible for new business development through intermediaries in the South-east. The move follows Jupiter&#39s appointment of two broker liason executives […]

Norwich Union – World Leaders Fund

Thursday, April 25, 2002Type: OeicAim: Growth by investing in global equitiesMinimum investment: Lump sum £1,000, monthly £50. Isa lump sum£500, monthly £50Investment split: US 40%, UK 20%, Europe 30%, Japan 7%, other3%Isa link: YesPep transfers: YesCharges: Initial 5.25%, annual 1.5%Special offer: Initial charge reduced to 4.25%Offer period: Until June 30, 2002Commission: Initial 3%, renewal 0.5%Tel: […]

Institute of Actuaries calls for pensions deferral

People should be able to defer pension contributions while they are committed to raising children and paying off their mortgages, according to the Institute of Actuaries. It says many people could be driven into debt by saving too soon and pensions need to accommodate “cash rich” and “cash poor” periods. A study by the Institute […]

Ron Bullen

Lives: Beachely, Near ChepstowBorn: September 23, 1939 in Heywood,LancashireAge: 62Education and qualifications: Apprenticeship, technical colleges in Kent and Lancashire, chartered engineerCareer to date: Engineering then management position in the paper industryCareer ambition: “Don&#39t know that I really had one…”Life ambition: “Again, don&#39t think I have one.”Likes: Intellectual challenge, variety, squash, travellingDislikes: “Gross injustice – it […]

Japan: the Land of the Rising Dividends

By George Boyd-Bowman, Fund Manager at Neptune Many Western investors have long bemoaned the lack of a true dividend culture in Japan, claiming the corporate culture is not tilted in favour of shareholders. Yet today, in the Land of the Rising Sun, we see a fresh impetus to focus on shareholder returns, which is leading […]


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