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Living like a King

Apologies to Standard Life group actuarial director Bob King after the Diary&#39s cartoonist depicted him recentlyas a cigar-smoking, Champagne-swilling, caviar-eating executive asking for a handout from Aviva group chief executive Richard Harvey. Nothing could be further from the truth, says Bob.

Apparently, the two top life company executives used to work together in Wellington, New Zealand and King has followed his former colleague&#39s earnings with interest since their return to Blighty, eyeing Harvey&#39s recent £1.4m pay pack-age with resignation rather than covetousness. “I don&#39t recognise the chap in the cartoon – I don&#39t smoke, I don&#39t like caviar and I&#39m not overly fond of Champagne,” King tells the Diary.

A more appropriate representation would have seen him wearing an All-Blacks shirt and drinking Steinlager. Sorry, Bob. Next time we&#39ll try to get it right.


Secure Air Systems – Secure Air Systems

Monday, 14 April 2003 Aim: Growth by investing in a company creating an air purification and air handling system Minimum investment: Lump sum £2,000 Opening/closing dates: April 12, 2003/May 22, 2003 Charges: Implicit Commission: Initial 2.5% Tel: 020 7917 9444

Millfield SMPI warning

Statutory money-purchase illustrations are likely to overstate the level of the income their funds will generate, warns Millfield pension specialist Graham Duckett. He says a combination of over-ambitious equity returns and falling annuity rates means income projections in the new pension benefit statements now going out to the public will already be out of date. […]

Two-thirds of IFAs support captive PI plan

Two-thirds of IFAs think that the creation of a captive insurer offering professional indemnity insurance solely to IFAs would make it easier to get compliant cover, according to George Street Research. Its monthly Omnifa survey reveals that 67 per cent of IFAs think that if such a scheme was established, it would definitely or probably […]

Now Davies says the price cap doesn&#39t fit

The Treasury&#39s proposed suite of Sandler products has suffered a significant setback after receiving harsh criticism from the unlikely source of the FSA. Last week, outgoing FSA chairman Howard Davies weighed in to the debate over price caps by publicly commenting that he does not personally believe in them and has seen no evidence from […]


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