View more on these topics

Insurance chief execs pour scorn on Sandler suite

An ABI report says the vast majority of UK insurance chief executives believe that a price-capped Sandler suite of products will make no impact or very little impact on closing the savings gap.

Ninety-one per cent of the 76 chief executive responding to the survey last week said they were not convinced that the proposed products will have an effect on the market.

Seventy-seven per cent said additional tax incentives for employers who contribute to their employee&#39s pension scheme was the best way to tackle Britain&#39s lack of saving.

The ABI released the wide-ranging survey of life office chief executives to coincide with its first annual conference in London last week.

The research also found that while 72 per cent of insurance chief executives said they were very worried by the weight of regulation, two-thirds said they view business prospects over the next five years as positive or very positive.

Over the shorter term, general insurers are more positive than their life counterparts, with 70 per cent compared with 19 per cent expressing a more positive outlook.

Fifty-two per cent of executives thought their UK equity holdings would be the same in five years time as they are now despite the recent trend of insurers selling equities in the face of falling markets.

ABI head of life & pensions Alan Woods says: “ABI research has demonstrated that price caps will inevitably exclude some people, restricting the impact that Sandler&#39s products will have on the savings gap. The CEO research confirms this.”

Scottish Widows head of marketing, technical Ian Naismith says: “The chief executives are saying that if you have a price cap, you will not be able to distribute the products effectively, which means that nothing will be accomplished in terms of tackling the price cap.”


Replanting a cash crop

I have built up considerable amounts of cash while waiting for markets to improve. I know I should move out of cash but where can I get a real return while markets are unpredictable? The main purpose of investment planning is to create financial independence. This is when you own the properties in which you […]

Opra offers guides for new pension scheme trustees

The Occupational Pensions Regulatory Authority is launching a nw range of leaflets that give scheme trustees information about their duties. The leaflets are designed as a starting point for trustees who need to learn their obligations under the Pensions Act 1995. Opra also has more detailed guidance publications to extend trustees&#39 knowledge. The leaflets give […]

Independent view

Despite the troubles and uncertainties prevailing in the world today, there are still many causes for celebration. In the case of Fiona Price & Partners, the occasion was our 15th anniversary. When Fiona set up the company back in March 1988 she was met by ridicule and scorn by many of her peers (all men). […]

IFA greets closure of loophole

National IFA the Millfield Partnership has welcomed the Chancellor&#39s decision to remove the little known 5 per cent deferral option on life policies. Current legislation allows the deferral of gains when the proceeds from a maturing life insurance policy are reinvested in a new policy with the same insurer. The holder then has a second […]


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