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Leeds launches new Tessa Isa

Leeds Building Society has launched three fixed rate tax-free Tessa Isa products with a minimum investment of £1.

The One-Year Tessa Isa pays 5.60 per cent, the Two-Year version returns 5.70 per cent and the Three-Year 5.85 per cent.

Product development manager Stuart Fearn says: “This new Tessa Isa product range offers a guaranteed high interest rate combined with access to funds. The minimum investment is also only £1, making it available to all investors with a Tessa Isa balance to transfer. All three versions are straightforward accounts with no short-term headline bonus rates, other catches or requirements to open linked accounts.

“The product accepts transfers in from other providers. Investors, who potentially have Toisa balances of £9,000 plus interest already earned often in accounts earning much less than is now available and without any rate guarantee, would see their earnings increase substantially by transferring to our new product range.”


Jelf links with Lloyd & Whyte

Jelf Group has formed a strategic partnership with Lloyd & Whyte in a bid to leverage respective areas of expertise across both groups.As Jelf specialises in private medical insurance and commercial finance, Lloyd & Whyte’s expertise lies in professional affinity schemes. Jelf has acquired a minority shareholding in the Lloyd & Whyte Group in addition […]

Actuaries expel Ranson over Equitable Life crisis

Former Equitable Life managing director and appointed actuary Roy Ranson has been thrown out of The Actuarial Profession.A disciplinary tribunal of the Institute of Actuaries found Ranson and two other former Equitable Life directors guilty of misconduct and breaching The Actuarial Profession’s rules.Ranson has become only the third person to be expelled from the institute […]

Winterthur reaping the benefits of A-Day

Winterthur Life saw a 122 per cent increase in individual pension sales last year to 1.6bn from 640m in 2005.Chief executive Mike Kellard attributes the growth to its A-Day platform being ready for business on April 2, 2006, unlike many of its rivals’ platforms, as well as the company’s focus on the high-net-worth market.Assets under […]

Sesame management to buy 60 per cent of business

Sesame management are set to buy 60 per cent of the business in a partial management buyout as Misys announces its new strategy today. Non-binding heads of agreement have been signed to purchase 60 per cent of Sesame, subject to FSA approval. Misys will retain 40 per cent of the business. Misys has agreed to […]


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