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Canada Life call to reject Manulife bid

Canada Life&#39s board has unanimously urged its shareholders to reject the hostile bid from rivals Manulife.

It says the offer, which could net the company&#39s 60,000 shareholders £4,000 in the UK and Ireland, is opportunistic and does not reflect the true value of the company.

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Inter-Alliance shares fall 24 per cent

Shares in Inter-Alliance fell 24 per cent in the last to 110p from 83.5p after celebrated short-seller Simon Cawkwell, who is known in the City as Evil Knievel, said the Aim-listed national IFA was overvalued.

&#39FSA must limit pace of change&#39

ABI head of life insurance Francis McGee is calling on the FSA to limit the pace of regulatory change to ease the financial pressure on life companies.The ABI says the stream of consultation papers changing the way that companies do their business is expensive and disruptive at a point when companies can ill-afford a dilution […]

Client ownership fears over aggregation portal

An industry project for online aggregation standards must guarantee IFAs&#39 ownership of their clients or face rejection, providers are being warned.IFAs welcome simplifying the standards but are meeting providers in Edinburgh next month to ensure that the blueprint for an aggregated portal service for group business does not restrict their ability to control client data.The […]

MediQuote and Swiss Life in group link-up

Online insurance portal Medi-Quote is teaming up with Swiss Life to offer a group protection comparative quotation system for IFAs.The portal will enable intermediaries to generate quotations for group life, group income protection and group critical illness.MediQuote says the portal will offer the products of at least three providers and it is in talks with […]

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