Friends Provident is looking to raise £380m to fund new business acquisition by securitising a book of life insurance policies. The move also reflects recognition of improvements in annuitant longevity in statutory valuation requirements of its business which could reduce statutory net assets by £30m.
Former Misys head of marketing and Sesame sales director Andrew Bedford has been appointed managing director at IFA Worldwide Financial Planning.
JO Hambro has attracted yet another top fund manager, Clive Beagles, former manager of Newton higher-income fund.
The news that IFAs have been deemed ineligible by the Association of IFAs to serve as director general will come as a great shock to most advisers.
The Association of British Insurers welcomes the announcent from the FSA on depoplarisation rules.ABI head of life and pensions Chris Kenny says: “This is an important change. The industry has been working hard to make it a success and will continue to do so.”
According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20 per cent of total wages, the statutory minimum for a […]
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