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CGU buys Gan Canada from French insurer

CGU is expanding its interests in North America with the purchase of Gan Canada from French insurer Groupama.

CGU is paying Groupama £56m for Gan Canada which has a 1 per cent share of the Canadian market.

Gan&#39s net asset value is estimated to be £70m.

CGU says the acquisition will increase its exposure in the profitable Canadian personal lines business.


Mutuals steal the march over plc rivals

Mutuals are stealing a march over their plc rivals by refusing to pass to borrowers the Bank of England 0.25 per cent base rate increase.The Bank of England surprised lenders this week by increasing the base rate to 5.25 per cent from 5 per cent but so far only plc&#39s have followed suit and hiked […]

Wesleyan hike savings and mortgage rates

Wesleyan Home Loans is hiking its mortgage and investment rates following the recent hike of 0.25 per cent in the Bank of England base rate.Wesleyan has increased its standard variable rate by 0.2 per cent to 6.79 per cent from 6.59 per cent.The new rate will take effect for new borrowers from September 15 and […]

Scot Prov International to offer Investec Wired Fund

Scottish Provident International is the first offshore life office to offer the Investec Guinness Flight Wired Index Tracker.The IGF fund is built around the 40 companies leading the global and technological revolution.The fund will be available through Preference, SPI&#39s multi-manager bond.SPI investment marketing manager Iain Fairburn says: “We are excited about the addition of Wired […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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