View more on these topics

Bright quits early as CII president

Founder and former chief executive of the floundering Independent Insurance company Michael Bright has stepped down as president of the Chartered Insur-ance Institute.

Bright, who earned £650,000 last year at Independent, was intended to keep the presidency until September but gave it up early after resigning from Independent Insurance.

Independent&#39s main business is insuring professional property and employers&#39 liability Pricewaterhousecoopers has been appointed as liquidator of Independent. The company&#39s liabilities have not yet been assessed.

The FSA has asked the Serious Fraud Office to consider whether there are grounds for an investigation into Independent.

The CII says its management committee is meeting this week to decide if deputy president Lillian Boyle, who was to become president at the AGM on September 21, will take up the position sooner.

Boyle has been a member of the CII since 1981 and is Scottish Provident Internat-ional company secretary and director of corporate services.

Bright joined the CII in 1961 and became vice-president in 1998, deputy president in October 1999 and president last September.

CII spokesman Steve Radford says: “The meeting of the committee will determine what will happen between now and the AGM when Lillian was due to take over.”

Recommended

Bestinvest hooks up with TrustNet

Bestinvest is appointing TrustNet to provide data for its online fund profiles to its more than 50,000 private investors.Trustnet will now offer Bestinvest users information on the top ten portfolio holdings of any investment fund on its site.TrustNet founding partner and sales and marketing director James Jones says: “TrustNet and Bestinvest have a similar goal […]

Scottish Widows waives windfall

Scottish Widows will not continue to chase customers for reimbursement of the excess windfalls paid out following its takeover by Lloyds TSB last year.The life office had contacted around 200 policyholders demanding they pay back the additional money it accidentally paid to them at the time of the takeover.It now says it will no longer […]

Occupational pensions &#39reduce pensioner poverty&#39

Occupational pensions are a major factor in reducing pensioner poverty, according to new research conducted for the National Association of Pension Funds.The report, by a the National Institute of Economic and Social Research, concludes eight out of ten of today&#39s pensioners have a standard of living at least as high as the average level achieved […]

Ipswich BS nets fixed rate

Ipswich Building Society has introduced a three-year fixed rate mortgage that is available for loans of up to 80 per cent of valuation. The mortgage has a fixed rate of 5.75 per cent until October 31, 2004. Borrowers who redeem the mortgage during the fixed rate period must pay 2.5 per cent of the original […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com