Legal & General has appointed Malcolm White as manager of its £1.2bn fixed-interest fund, the £969m managed income fund and the £122m monthly managed income fund after Stuart Steven relinquished his role with the funds although he remains as head of the invest-grade team.
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Alliance & Leicester – Five Year Fixed Rate
Alliance & Leicester
Five Year Fixed Rate
Abbey for Intermediaries launches commission based payment package
Abbey for Intermediaries is launching a new commission based payment package for intermediaries selling its Peace of Mind buildings and contents insurance and Paymentcase mortgage payment protection insurance.
Bee believes annuity rule set for KO
The House of Commons may have overturned the Lords’ vote against compulsory annuitisation at age 75 but the issue will take centre stage when the Pensions Commission delivers its final report says pension guru Steve Bee.
10% annual charge for NU non-stakeholder pension
Norwich Union is charging 10 per cent on the first five years’ premiums for its price-busting non-stakeholder pension for the full advice market.
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AJ Bell to compensate over delayed transfer
The Pensions Ombudsman has ruled AJ Bell must compensate a client for investment losses attributable to a botched transfer to James Hay Partnership. Mr R’s complaint against AJ Bell is it was partly responsible for the delay in the transfer of funds that shut him out of the market and lost him thousands of pounds. […]
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Robert Reid: Ambulance chasers hunt their next prey
Sometimes in business you can have an exceptional year and, provided you do not take it for granted, all is good. Allowing expenses to match an unsustainable increase in revenue is asking for trouble. As the claims deadline for PPI draws closer, it is clear the ambulance chasers will be looking elsewhere to continue the […]
Equitable Life sale to bring windfall for policyholders
Embattled mutual insurer Equitable Life has been bought by Reliance Life, part of the Life Company Consolidation Group. In March reports emerged the firm was preparing to sell. Equitable Life, which has been in run-off since closing to new business in 2000, was still technically owned by its more than 300,000 remaining policyholders, most of […]