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Equitable slashes maturity and surrender values again

Equitable Life has again been forced to slash maturity and surrender values to maintain solvency after recent market falls.

The maturity value will now be reduced by 10 per cent from 4 per cent before. Early surrenders will incur a penalty of 20 per cent up from 14 per cent.

The society describes the move as "most regrettable". Equitable has reduced its equity holding to 15 per cent but says it is still solvent.


House prices see fastest quarter of growth since 1989

House prices rose by 3.3 per cent in June, rounding off the fastest quarter of growth since 1989, according to Nationwide Building Society.The average home now costs £106,693, up from £102,693 in May. This is an increase of 19.8 per cent since June last year.Based on these findings, Nationwide is revising up its forecast for […]

Ten years after

Troglodytes, antediluvians, dinosaurs, fossils. Perhaps that is taking it a little bit too far but the Pensions Protection Investments Accreditation Board&#39s chief executive John Cox believes the leadership of the insurance industry is 10 years behind the times. Good to see Cox proving his independence but perhaps a little harsh.What about those wise owls in […]

Golden years

What do you think of the prediction that the UK could follow Japanese mortgage trends by moving towards longer mortgage terms of up to 50 years to improve affordability?Underhill: Unlikely, although this largely depends on the future direction for house prices. We have seen in the past periods where the growth in house prices has […]

Norwich Union adding to MVR

Norwich Union has increased its market value reduction and extended it to pension products dating back to 1989 as a result of continued falling stockmarkets.The move comes as the insurer is being criticised for parent company CGNU using £2bn of future profits in its 2001 returns.The company argues that this strategy is better than having […]

2016 Global Survey of Individual Investors: How is investor behaviour rewriting the job description for financial professionals?

Trapped between expectations for near double-digit returns and strong apprehensions about investing in persistently volatile markets, investors worldwide are of the opinion that professional financial advice is worth the fee. But even though they believe individuals who work with a financial professional are more likely to achieve their goals, investors have a clear vision of […]


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