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Gartmore £1bn sale

NatWest&#39s fund management business Gartmore has been sold for more than £1bn to Nationwide Mutual, a US insurer based in Ohio.

Nationwide Mutual which began life as a farmers&#39 co-operative is paying £1.03bn for the firm, following a cut throat auction conducted by investment bank DLJ.

The payment of £110 million for net assets and £920 million for goodwill is almost double what was expected when the disposal was first announced.

The sale comes weeks after NatWest its current parent company was taken over by the Royal Bank of Scotland.


Is Tory letter first class or a sham?

Are the Conservatives genuinely worried about the potential danger thatthe FSA could cause to IFAs when the Financial Services and Markets Billbecomes law? Or are they simply playing politics in an attempt to scorepoints against the Government in the months leading up to a generalelection?The IFA community seems split on this matter. Some share the […]

School of thought

Will negative media coverage become a self-fulfilling prophecy and willlife insurance companies have no reason to maintain the level of terminalbonuses with so many people cashing in policies?Around 35 per cent of policyholders do retain their policy until maturityand only around 3 per cent of all in-force with-profits endowment policiesare surrendered on the secondary market […]

TUC ready to launch stakeholder plan for one million

The Trades Union Congress is to launch its own stakeholder pension planfor up to one million of union members who do not have pensions.The plan, which will be available through all the TUC&#39s affiliated memberunions, is in the process of being fleshed out, with the TUC known to benegotiating with several potential providers.It is the […]

Margin of error

I arranged a unit-linked whole-of-life plan nearly 20 years ago with adirect-selling life insurance company. The policy was written in trust tomeet an expected capital transfer tax liability (now inheritance tax).I have been able to increase the level of cover without increasing thepremiums and without providing further medical evidence. Despite the unitprice rising, I have […]


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