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Heath quits SRB after takeover

Risk Placement Services has bought niche insurance brokerage Special Risks Bureau for an undisclosed sum in a deal that will see the two firms marketed under the RPS brand.

Special Risks Bureau chairman Garry Heath is leaving the firm as a result of the deal and is in talks with a number of firms about future roles.

RPS is accelerating its plans to offer stand-alone critical-illness and income protection to the specialist market and has brought the launch date forward to September. It is also doubling the number of providers on its panel to 12.

SRB managing director Mike Owen will remain with the combined firm and will be responsible for new products and managing relationships with providers.

RPS managing director Mike Hosie will be managing director of the merged companies. He says: “This merger opens up the other half of the marketplace. Over the next few weeks, we will be making IFAs aware of the changes.”

Heath says: “The time was right to go. I hope I will be staying around the industry but I may be moving out of the specialist insurance market and more to the middle I suspect.”


Treasury issues Asp warning

An insider at the Treasury accuses tax advisers of “wilful abuse” of Asps, which were introduced for religious groups, such as the Plymouth Brethren, with moral objections to annuities. The source says: “It is unfortunate that a group of tax-avoidance advisers are wil-fully seeking to abuse it in this way. We will take all the […]

Searching in vain for true professional

A recent advertisement on the back page of Money Marketing read: “Do you want to recruit a financial services professional? Money Marketing is read by about 96,000 of them.” Not quite true, I think. It may be read by 96,000 people in the industry but to assume that all 96,000 are professionals is stretching credibility […]

Revenue glitch poses pension threat

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Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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