View more on these topics

FSA proposals for fair treatment of with profits policyholders

The FSA has issued new guidelines for the fair treatment of with profits policyholders. The proposals include publishing target ranges for payouts and MVRs only applied if there has been either a significant change in the value of the fund&#39s assets or if a high volume of surrenders has occurred or is expected.

It also suggests restrictions on what firms can charge to their with-profits and that compensation for policy holders should be paid first from any inherited estate and second from shareholders funds.

On distribution of surplus firms would have to consider whether the surplus exceed what is necessary to support current and future business. Firms will have to notify policyholders within 28 days of fund closure and submit a run off plan to the FSA.

CP207 includes guidance for firms on informing consumers about how their with-profits funds are run.


Countrywide proposes sale of life assurance operations

Countrywide Assured has proposed the sale or demerger of its life assurance operations. It believes there is no longer any compelling reason for the life business to remain part of the group, as the capital requirements and investment propostions of the two businesses are entirely different. It says that since it substantially closed the life […]

Bristol & West – Global Income & Growth GEB

Type: Guaranteed equity bond and choice of two high interest accounts GUARANTEED EQUITY BOND Aim: Growth linked to the FTSE 100, Nikkei 225, SMI and S&P 500 indices Minimum-maximum investment: £2,500-£1m Term: Seven years Guarantee: Capital returned in full at end of term regardless of movement in indices Return: Up to 70% growth in indices […]

Equities Outpace property Increase

IFAs must urge investors not to chase flavour-of-the-month sectors such as property without looking at the bigger picture, says The Money Portal. TMP is concerned that investors are continuing to shun equities in favour of sectors it says are often at their peak, slowing or lagging behind other asset classes. As an example, it says […]

Abbey extends Choice Income Bond availability

Abbey for Intermediaries has extended the availability of its Choice Income Bond, which will now remain open until December 15. Initially intended only to be available until December 9, the Scottish Mutual bond offers a choice of fixed annual or monthly income or growth at the end of the five-year term. The minimum investment is […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm