Manulife has launched a hostile bid for rival Canada Life which could result in windfalls of around £4,000 for the UK investors who accepted shares when Canada Life demutualised in 1999.
If successful and approved by regulators, it would result in the fourth biggest insurance company in North America and the tenth largest in the world.
Bill Healey, Merrill Lynch's head of European high-yield bonds, has beenmade redundant following the merger of the fund manager's fixed-incomedesks.In a move which has prompted a number of IFAs to put the £150mhigh-income bond fund Healey co-managed on hold, Merrill has consolidatedits European high-yield team into its investment-grade division in a bid tocut costs.The company […]
IFAs are a cheaper distribution channel than their direct-selling rivalswhen it comes to nearly two-thirds of unit-linked and with-profitsproducts, according to the latest FSA disclosure survey.The survey, from December 2001, looks at 24 products comparing the totalremuneration advisers received over five years. It shows that in 15 out of24 products, IFAs accepted a total remuneration […]
When Ludwig Wittgenstein completed his first major work, his new publisherwanted to know what to tell the reviewers and was desperately keen to findout what it was all about. To his utter dismay, the 20th Century's greatestphilosopher replied that what was really interesting about hisground-breaking study of the nature of meaning was – “what it […]
Scottish Mutual has finally closed the door on all with-profits.The news follows the company's decision to offer a modern Sandler-stylesmooth managed fund, as revealed by Money Marketing in October. Parentcompany Abbey National pumped £575m into its life subsidiary last year.However, ScotMut will still accept increments for existing life and pensionwith-profits policyholders and new section 32 […]
Our client leads the global market in high-tech electronics manufacturing and digital media. The trustees of the company’s final salary pension scheme insure death-in-service lump sum and dependants’ pension death benefits for active employees, as well as dependants’ pension benefits for deferred members (those who have left service).
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Last month, the BBC’s Money Box covered the story of a protection customer who had seen her quoted life and critical illness premium rise by around a third after she disclosed a historic mental health issue. The woman was taking cover as a parent of young children and had originally chosen an insurer after getting […]
The Chartered Institute for Securities and Investment has set up a helpline for participants in its financial planning mentoring scheme. The helpline, which is being supported by Schroders, will be open to mentors and mentees on the programme, which started on the first of January this year, looking for support in achieving professional financial planning […]
Collapsed wealth manager Greyfriars Asset Management sold its Sipp and SSAS administration business to Hartley Pensions for £820,000 an update on Companies House shows. Money Marketing previously discovered Hartley took on 1600 Sipps, 160 SSAS and almost £500m assets under management onto its books for an undisclosed sum, with fresh documents now revealing the value […]
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