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Ex-pat protection set to soar, says William Russell

Demand for life insurance and income protection products for expats is set to soar in 2009, says William Russell.

According to the international ex-pat insurer, the dramatic shift from investment to protection following global stock market corrections means 2009 will fuel sales on ex-pat protection and international private medical insurance.

The insurer says the scope for market growth for such products is being driven by greater consumption of healthcare and the move towards making international PMI compulsory.

Dubai is expected to make international PMI compulsory for expats in 2009, and expats entering Malaysia on the My Second Home programme are obliged to have international PMI cover before a visa is granted.

William Russell sales director James Cooper says: “The fear of global recession has made many expatriates and their advisers focus more on protection products than investments and we are seeing strong growth in demand for income protection plans as well as life insurance and international PMI.

“While it is likely that some international businesses with expatriate employees will rationalise their operations, the market is huge and unlike domestic PMI provision, which has become commoditised, the scope for market growth and increased product penetration remains considerable.”


Towry aims for 25% asset growth in 2009

Towry Law is looking to inc- rease its assets under management by over 25 per cent this year and says it could double its number of advisers if the right acquisition opportunities become available.

Yield work

Money market funds have unsurprisingly been among the most popular investments of late but just how long that will last remains to be seen. But with interest rates so low in the UK, the US and potentially in Europe, there is a question of whether or not money market funds will be able to generate enough yield to be attractive. And if they do, the question will be how risky are the assets they are invested in in order to generate an attractive return?


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