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Endowment bonus plunge

Endowment policyholders are bracing themselves for a plunge in bonus rates.

Experts predict over the next few weeks cuts will be made as actuaries revise downwards their equity market return forecasts.

Both Royal & SunAlliance and Norwich Union are expected to report 0.5 per cent cuts on their with-profits bonds, leaving headline rates at 5 per cent.

KPMG actuary and principal consultant John Jenkins says: “Rates are coming down because the outlook for long-term interest rates is lower.”


Industry e-scare

Fear is the main force driving financial services industry e-business investment, according to the Confederation of British Industry.The CBI&#39s latest survey with PricewaterhouseCoopers claims the industry is “grappling with the extent of the challenges presented by e-business and what exactly its response should be.”Of the 179 companies responding December survey 89 per cent had an […]

Isa charges slashed

The end of the tax year is heralding the launch of a range of cut-price Isas by providers including Legal & General and Scottish Investment Trust.In a move to attract new investors L & G is offering investors buying an Isa a refund of the first year&#39s annual management charge until the end of April.Scottish […]

Watchdog crackdown on mortgage selling

New legislation is to be revealed by Chancellor Gordon Brown next week aimed at tackling mortgage misselling.Experts are expecting Brown to disclose the new legislation at a private visit to the Financial Services Authority, which is expected to give the regulator direct power on mortgage selling and force the use of Cat standards.The move follows […]

BoS new bid plans

Bank of Scotland is set to reveal three joint ventures in a bid to boost its takeover bid for National Westminster Bank.The bank is not being drawn on the detail but have indicated the three ventures will be on a significant level.The news has increased pressure on rival&#39s in the takeover battle, Royal Bank of […]


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