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FSA in talks with Standard over financial strength

The FSA has issued a statement confirming it is in discussions with Standard Life about its solvency under new life office accounting rules due to take effect later this year. The statement says there has been a high level of engagement between the regulator and Standard which is close to a conclusion.

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Axa Sun Life cuts regular bonus rate

Axa Sun Life is cutting payouts on its former Equity & Law conventional life and pensions policies by 1 per cent, effective from this month. The regular bonus rates for 2003 and interim rates for 2004 are 2 per cent, down from 3 per cent in 2002. The announcement affects around 10 per cent of […]

House prices up 1.8 per cent in December – Halifax

Halifax&#39s monthly house price index reveals that house prices increased by 1.8 per cent in December up from a 1.1 per cent increase in November. The annual growth for 2003 was 15.4 per cent down from the 26.4 per cent increase experienced during 2002. General manager, group economics Shane O&#39Riordain says: “The housing market is […]

Zurich chief Leitch to retire after 33 years with group

Zurich Financial Services UK chief executive Sandy Leitch is to retire in the spring.Leitch, 56, is also chief executive for the Irish, South African and Asia Pacific businesses and has been with the group for 33 years. He started as an IT designer with Allied Dunbar and become Dunbar chief executive, later leading British American […]

Leggmason to launch onshore US small cap fund

Leggmason is waiting for FSA approval to launch an onshore version of its Dublin-domiciled US small cap fund, which is up 102 per cent since launch in November 2001. The new fund will be run by the same manager, Chuck Royce, who runs the offshore fund in the US through his company Royce Associates, a […]

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