View more on these topics

Friends Provident sets offer price

Friends Provident has set its offer share price at 225p a share, giving it a market capitalisation of £3.7bn on listing.

The preferential offer is 213.75p a share. It received £566m of share applications. A total of 224.8m shares, worth £506m, are being sold to pay members who have chosen sell their shares on listing. Another 120.2m of shares worth £271m are being sold on behalf of overseas members and some occupational pension scheme trustees.

Recommended

Royal London moves to stop baggers

Royal London is bringing in carpetbagger prevention measures to stop new policyholders claiming windfalls if it demutualises. From July 1, when Scottish Life&#39s business will transfer to Royal London, new policy-holders will not be entitled to compensation for loss of membership rights after demutualisation.

Kelly to announce date for N2

Economic secretary Ruth Kelly is expected to announce today the date for N2, the day the FSA will receive its statutory authority.Most industry commentators expect a date in November for N2.

Liverpool Vic buys nurses pension fund

Liverpool Victoria is buying the Royal National Pension Fund for Nurses for £248m. Approximately £200m of RNPFN’s estate will be distributed in the form of enhanced benefits for 155,000 policyholders. Liverpool Vic will provide capital support of up to £100m to provide security and investment freedom to RNPFN.

Pru and ScotAm valuations on AssureWeb

AssureWeb is to offer online life and pension policy valuations from Prudential and Scottish Amicable.IFAs are now able to check Pru and ScotAm surrender values and fund values online. AssureWeb says it expects other providers to come on board in the coming months.AssureSoft commercial director David Child says: “The service is another example of AssureWeb&#39s […]

Thumbnail

Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment