Norwich Union has signed a single-tie deal with Co-operative Insurance Society, whose 2,200 advisers will sell NU products exclusively.In a phased roll-out from the first quarter of 2006, NU will provide a personal pension, unit-linked bond, guaranteed acceptance plan and suite of inheritance tax-planning products for CIS. The products will be CIS-branded and further lines are likely to be added. CIS will continue to offer its own stakeholder pension and platinum with-profits bond. The firms are also in discussion over CIS advisers using NU’s wrap platform Lifetime. NU distribution director David Barral says the deal could boost NU’s UK sales by up to 1 per cent in the first few years. He says: “The rollout will be phased and we are fine-tuning that now. Their objective is that the products are seen as CIS products by their customers but it is very much a partnership.” CIS advisers have previ- ously sold few pension and IHT-planning products, so productivity levels are antici- pated to rise strongly. CIS chief executive David Anderson says: “NU, combined with the strength of our existing product range, will help deliver a compelling proposition for our customers.”
No sooner had I suggested that Japan might be worthy of re-examination as a country in which to invest, than prime minister Koizumi called a general election. Typical. The uncertainty created demands a wait and see policy, at least for the time being.
The F&C Stewardship funds, the group’s range of ethical portfolios, have passed through the 2bn mark.
The funds, the first of which was launched 21 years ago by Friends Provident, are the UK’s oldest and largest ethical investment suite of products.
The Pension Annuity Friendly Society has been given the go-ahead to demutualise by its policyholders in a move that will secure a £5m war chest. The demutualisation, exclusively revealed in Money Marketing in June, will see Pafs rebranded as Partnership Assurance and pay out £6.2m in windfalls to 7,800 members who will get a minimum […]
Pearl Assurance is nearly doubling the proportion of equ- ity and property investment in its with-profits policyhol- der fund from 25 to 45 per cent. The change is aimed at improving longer-term performance and Pearl says it is unlikely to affect its bonuses in the short term. Pearl, acquired in April by Life Company Investor […]
Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]
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