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Group cover limit raised

Canada Life has raised the limit on the maximum free cover for its group income protection from £90,000 to £100,000.

It has also increased the forward underwriting bar on group income protection from 10 per cent to 25 per cent of total benefit and removed the five-year time limit so the bar remains valid indefinitely.

Head of marketing Marion Ware says: “These changes will allow us to streamline our underwriting processes.”


OMAM bolster fixed interest team

Old Mutual Asset Managers UK (OMAM) has bolstered its fixed interest team with Chris Palmer and Rachid Semaoune joining as fund managers.Palmer joins as Old Mutual dynamic bond fund manager alongside head of fixed interest Andrew Tunks. He joins from Elgin Capital where he was a crossover credit specialist focussing on the Sterling bond market.Semaoune […]

A&L and Godivapull 125% loans

Alliance & Leicester and Godiva Mortgages have withdrawn their combined mortgage and unsecured loan range which could see customers borrow up to 125 per cent loan to value.

Mortgage bad debts treblefor Bradford & Bingley

Bradford & Bingley shocked the market last week with its profits almost halving after it cut the value of risky assets.Underlying pre-tax profitfell to 126m in 2007 from 246.7m in 2006. The newsled to a 10 per cent fall in the firm’s share price.B&B claims that if it stripped out “unusual and extreme external events”, […]


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