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FSA likely to be in talks with other life offices says AKG

Consultant and Actuary group AKG says Standard Life is only one of the first insurers to find themselves in discussions with the FSA over solvency this year as a result of the new reporting regime, but many more will follow.

The comment follows an FSA statement that it is in talks with Standard Life about the calculation of its realistic balance sheet, saying that there has been a high level of engagement between the two.

AKG communications director Guy Vanner says: “It has probably been blown up out of proportion, but this is something we are going to see with a lot of insurers. We would suspect that Standard Life is having early discussions, but everybody will either be in discussions already, or will be shortly.”


Quester searches for top-up

QUESTER CAPITAL MANAGEMENT QUESTER 5 VCT Type: Venture capital trust Aim: Income and growth by investing in unquoted companies Minimum investment: Lump sum £3,000 Opening/closing date: November 17, 2003/March 31, 2004 for 2003/04 tax year, April 30 for 2004/2005 tax year Charges: Initial 5%, annual up to 2.5% Commission: Initial 3% Tel: 020 7227 3333 […]

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There is no doubt that the Financial Services and Markets Act gives the FSA strong powers. Whether those powers are so Draconian that the European Court decides they breach the IFA&#39s human rights can only be tested by legal challenge.If FSMA is overturned, the way that the IFA works would be changed for ever -no […]

Slower rates of change in protection market

With product changes and over 40 rate changes, the protection market during 2003 was volatile to say the least.In 2004, we expect further rate and product changes. Liverpool Victoria has recently announced a rate change for January but hopefully we will see less frequency and less volatility. The market should stabilise compared with 2003.The critical-illness […]

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Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]


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