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FSA launches overhaul of life insurance industry

The FSA is today publishing the report that sets out its proposals for the complete overhaul of the insurance industry.

The FSA has carried out research that it says shows life offices have a significant ability to withstand further large falls in equity values from the level at which the exercise was commissioned. The survey was conducted at the time the FTSE 100 was at 4,000.

FSA managing director, consumer, investment and insurance John Tiner says: “The effective implementation of the new insurance regime is an immediate priority for the FSA, and consistent with this, we are in the process of carrying out “risk assessment” on the largest 200 insurance firms. We are also continuing our work to improve the framework that sets capital requirements for insurance firms.”


Face up to fees

For too long, IFAs have been waiting to be convinced that the FSA was right when it said that consumers are prepared to pay a fee for financial advice. If the latest research is to be believed, they will now be even more sceptical.A recent survey by market research firm Nunwood has revealed that 80 […]

Exeter Investment gauges its exposure to split caps

Exeter Investment Group is reviewing the exposure of its funds to the split-cap sector in response to IFAs&#39 concern over professional indemnity insurance.The move comes after the group found that PI insurers were asking IFAs who do business with Exeter to advise them of their exposure to splits.Exeter has decided to limit the short-term exposure […]

UBS Global Asset Management – US Equity Fund

Thursday, 3 October 2002 Type: Oeic Aim: Growth by investing in US equities Minimum investment: Lump sum £1,000, monthly £50 Investment split: US large-cap companies 65%, US mid-cap companies 35% Yield: None Isa link: Yes Pep transfers: Yes Charges: Class A shares &#45 initial 4%, annual 1.5%, class B shares &#45 annual 0.9% Commission: Initial […]

Royal descent

Bob Mendelsohn was the man drafted in to try and make a difficult match between Royal & Sun Alliance work. It is a shame that he is no relation to Felix Mendelsohn, the Wedding March composer, who could maybe have offered some much needed advice on harmony. The chief executive finally stepped down this month.To […]


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