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Britannia awards loyal with £50m

More than one million Britannia Building Society members are set to receive £50m worth of loyalty bonuses.

This year&#39s bonuses were boosted from the sale of its life and asset management business last year.

In addition to their usual share of the annual profits, members with longer term policies stand to gain around £500, while the average pay out will around £44 per head.

Britannia says the bonuses are a way of demonstrating the benefits of remaining mutual.


Rothschild to take advantage of tech boom

Rothschild Asset Management is to launching a technology-focused fund of funds to take advantage of the tech boom story.The Five Arrows Independent Technology Plus+ Fund is subject to regulatory approval and will be available to investors from April 10.RAM will invest in a range of onshore and offshore technology-biased funds. But it will target funds […]

AMP axes 1,250 Pearl and NPI jobs

Australian insurance giant AMP has announced 1,250 jobs will be axed from UK life offices Pearl and NPI.The losses will be cut from administrative and support roles throughout the year.The cuts are part of a wider-ranging shake-up to stop duplication between the two life offices.AMP says it hopes the losses will be achieved through natural […]

Royal flush as mutual takes over

Mutual life office Royal London is taking over United Assurance for £1.5bn, in a move set to boost the flagging cause of mutuality.The acquisition will be the largest takeover of a quoted company by a British mutual.Pro-mutual supporters will welcome the news following the threat to Standard Life by carpetbaggers and the pending completion of […]


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