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Datamonitor says only seven life and pensions offices are geared up for stakeholder

With the onset of stakeholder at least two years away, the life and pensions industry is gearing up to fight the battle of its life according to market analysts Datamonitor.

The analysts believe that currently only seven companies are geared up to compete in the post stakeholder era.

It names the companies as Standard Life, Prudential, Axa, Norwich Union, CGU, Legal & General and Scottish Widow as those able to compete.

But Datamonitor casts a warning to the other 70 plus life offices. It says the current financial and competitive market pressures, the present economic climate and a number of prowling global players wanting to enter the UK market means other companies will follow Scottish Widows and NPI&#39s lead and shake off their mutual status.

To win the survival battle, Datamonitor says there are four vital weapons, critical mass to leverage large client bases, low cost distribution channels, strong fund management and a strong brand.


Shadow Chancellor set to address Sofa Conference

The keynote speech at this years Society of Financial Advisers &#34Update&#34 conference in November will be delivered by the Shadow Chancellor of the Exchequer Francis Maude.The speech will provide IFAs, product providers and regulators an insight into the Tory party&#39s view of the Financial Services and Markets Bill as it passes through Parliament.Maude will also […]

Scottish Widows voices concern over Royal Commission&#39s long term care projections

The Royal Commission into Long Term Care has significantly underestimated the cost of providing care according to Scottish Widows.The life office says the commission has misjudged the cost of providing personal care free at the time of need when it made its projections.As a result Widows is writing to the Government ministers to voice its […]

ABI warns of dark events on August 11

The Association of British Insurers is warning August 11 the day of the solar eclipse may be a dark day in more ways than one.The Association says criminals are likely to exploit the opportunity of unoccupied homes in Devon and Cornwall and target them for burglaries.The ABI is warning people to make sure their homes […]

Scottish Value Management aims for bigger IFA presence

Scottish Value Management is attempting to increase its presence in the IFA market with the launch its Low Risk Asset Fund.The fund is registered offshore in the Cayman Islands and listed in Dublin. It is denominated in US dollars.It primarily invests in traded endowment policies, but will also consider investing in other asset classes.The fund […]


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