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Did ISL closure pave way for sale?

SimplyBiz chairman Ken Davy says the closure of Bankhall’s Investment Strategies Limited network in March could be connected with rationalising the Skandia-owned business ahead of a sale.

Skandia paid 180m in 2002 for 80 per cent of Bankhall. Last month, Bankhall, which offers services to 8,300 RIs, was valued at 110m after seeing 70m of goodwill being written off. Sale speculation has been renewed by Old Mutual’s bid for Skandia, with some industry sources predicting that a sale of Bankhall could see other life offices taking stakes.

Davy says: “The announcement of Old Mutual’s interest throws a new light on the sudden closure of ISL in March but it is hard to know whe- ther Old Mutual would want to keep Bankhall for its dist- ribution or offload it.”


Home in on FTBs

A picture of the Government’s true priorities is emerging and it is no surprise that housing remains a mainstream issue.

Pru slashes rates for CIC and life insurance

Prudential is slashing its rates for critical illness cover and life insurance, with the new rates applying to new customers only. Existing customers will pay their current rates. For example, a 40-year old male non-smoker wanting 100,000 level life cover for 20 years would have had to pay a 17.08 monthly premium. This has been […]

ScotEq Intl warns of tax-free dangers

IFAs must warn their clients of the threat of inheritance tax on supposed tax-free savings vehicles, cautions Scottish Equitable International.

European Opportunities: 'It’s nice when stock selection results in a macro tailwind'

Amid significant macro headwinds in August, Mark Page explains why his fund’s focus on stock selection has helped it outperform a falling market in August. BESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswy


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