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Britannic to suspend with-profits bonus and dividends

Britannic Group has announced that it could suspend bonuses for with-profits policies this year and is unlikely to pay dividends to shareholders. It says it is taking this action as a result of the worst year for equities since 1974.

It has reduced the equity backing for its with-profits fund from 72 to 42 per cent. The fund currently has a free asset ratio of 6 per cent.


Munich Re&#39s critical view

I am writing to clarify Munich Re&#39s position in the critical-illness marketfollowing the recent article on Norwich Union&#39s 40 per cent premiumincrease.In this article, reference was made to “the decisions by Swiss Re andMunich Re this year to stop reinsuring long-term guaranteedcritical-illness cover”.Munich Re would like to make it clear that we, in fact, withdrew […]

Raymond James targets IFAs

Online stockbroker Raymond James Investment Services has created a self-invested personal pension (Sipp) which enables advisers to establish and manage their clients portfolios online.This full Sipp provides access to all investments that the Inland Revenue allows for Sipps, except commercial property. It has a low minimum investment of £1,000 for a lump sum or monthly […]

Kreis Consulting – UK Industrial Income

Thursday, 2 January 2003 Type: Unauthorised exempt unit trust Aim: Income by investing in UK industrial property Minimum investment: Lump sum £10,000 Investment split: 100% in UK industrial property Yield: Up to 8% gross a year Isa link: No Pep transfers: No Charges: Annual 0.35% Commission: Initial 2% Tel: 0141 564 1523

Barking up the wrong tree

The new year has begun very much like the old one finished, with a raft ofconsultation, discussion and feedback papers from the FSA. Among the sixpublications put out by Canary Wharf between Christmas and the first weekof January is the FSA&#39s discussion paper on its proposals for theregulation of the sales process for Sandler&#39s suite […]


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