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Liverpool Vic says realistic regime will not hit capital

Liverpool Victoria has trimmed with-profits policy bonus rates but claims its financial strength holds strong, with the FSA&#39s realistic reporting regime not expected to have any negative effects on its capital position.

Cuts to annual bonus rates range from 0.2 per cent to 0.35 per cent, with final bonuses dropping by between 5.1 per cent and 15.3 per cent. Annual bonuses on with-profits pension annuities and unitised with-profits policies are unchanged, as announced last month.

The changes mean that a male aged 30 next birthday and paying £50 a month on a 25-year conventional endowment sees the payout fall by 10 per cent from £93,503 to £83,945.

Group actuary Ian Blanchard says: “An 11.9 per cent annual rate of return before inflation on a 25-year policy is an excellent result and confirms that our with-profits products are a highly competitive choice.”


Protection policies online from Friends

Friends Provident has set up an online underwriting service for protection business through major portals such as Assureweb and the Exchange. Friends says the eSelect Protection system will give immediate online underwriting decisions for cases where no further medical evidence is required, which is estimated to be more than of 60 per cent of cases, […]

Menu makes IFAs much cheaper than direct sales

IFAs are revealed to be up to four times cheaper than services offered by their direct-selling rivals in the FSA&#39s menu proposals. Despite a fierce rearguard action fought by the banks and other direct operations, the FSA has decided to apply the menu to them as well as IFAs rather than opting for the proposal […]

One, two, three O&#39Learys

Staff at tech outsourcing operation Marlborough Stirling were expecting a tall Irishman when they heard that a West Midlands football manager called O&#39Leary was taking over as chief executive. Staff were bracing themselves for a tell-all autobiography and wise words on playing 4-4-2 until it was revealed that his first name was Michael and not […]

Life returns to favour

Wouldn&#39t it be great if you could avoid income and capital gains tax on investment gains? Well, that is exactly what you can achieve with some relatively simple planning using life insurance policies. The current level of Government spending has forced the Chancellor to increase the tax yield. This has led the financial services industry […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]


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