View more on these topics

Fitch Ratings brands Pearl’s Resolution bid as “potentially detrimental”

Fitch Ratings has downgraded Resolution’s rating to negative following Standard Life’s withdrawal of its offer for the life company yesterday.

Fitch says that Pearl’s offer for the company is “potentially detrimental” to Resolution’s credit quality and it has decided to downgrade its rating as a result.

The ratings agency says Pearl’s current capital management strategy is more aggressive than Resolution’s and, if continued, would adversely affect Resolution’s capital strength.

The agency also believes that a transaction with Pearl could present significant integration risks relative to the limited synergies available from combining the closed funds of Pearl and Resolution.

Fitch expects to resolve Resolution’s ratings watches once a transaction is finalised or if Pearl’s offer is withdrawn.

Recommended

Network deal for GI supplier

Berkeley Alexander has become the preferred supplier of general insurance products to members of the HomeLoan Partnership network.

Lifequote free for Sesame

Sesame members now have free access to Lifequote’s Intelligent Protection software.The software has been soft-launched to Sesame’s 3,900 appointed representatives, with a formal launch set for January. Sesame Direct users can use the software for a fee.Product manager Phil Hull says: “We have been looking for ways for more protection to be sold through the […]

With-profits workbook

Stuart Tragheim, director of intermediary business at LV=, outlines how advisers can assess whether a with-profits investment is still suitable for a client.

Panel sees no value in primary advice

The Financial Services Consumer Panel has hit out at the FSA’s plans for primary advice, saying it does not see “any value” in the proposals set out in the retail distribution review.The attack is a further sign that the FSA’s primary advice plans are proving unpopular across the industry, with growing concerns from key stakeholders […]

Retirement - thumbnail

Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment