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Drop in operating profits and job losses at Britannic Group

Britannic Group has announced a dip in operating profits and a further 200 job losses at its life arm Britannic Assurance. In its half-year results, the company says Britannic Money and Britannic Retirement Solutions are on course to break even next year. Britannic Asset Management saw new business soar to £157m from £80m last year. The group&#39s operating profit was down to £52m compared to £80m last year. It says its new focus will be on growing its asset management and retirement businesses.



Recurring PI Royal abdication

It would be extremely unfortunate if “indiscriminate” conditions applied by professional indemnity insurers began to erode an IFA’ ability to recommend a full range of investments. That is the threat from problems over split caps. The Aitc is discussing the situation with Aifa and other organisations, presumably the regulator and PI insurers. As in the […]

Now L&H claims cheapest 10-yr fix

Leeds & Holbeck Building Society is offering what it claims to be the cheapest-ever 10-year fixed-rate mortgage at 5.25 per cent. The rate follows rival Yorkshire Building Society unveiling what it claimed to be the lowest flexible 10-year fix at 5.44 per cent last week. The L&H rate is only available to clients taking its […]

Solutions offers trail cash after retirement

Positive Solutions is introducing a scheme which offers IFAs the chance to continue receiving trail commission after retirement as part of a package to recruit new members. In return for a proportional commission charge, the New-castle-based national will deposit ongoing payments directly into an individual&#39s bank account anywhere in the world while allowing the former […]

Life in the fast lane

Life insurance has been the foundation stone of our industry for many years as most customers need some form of life cover as the building block of their financial planning. But while the industry has been innovative with the products on offer, with simple term insurance developing into critical-illness cover, income replacement, waiver and others, […]


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