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Lord bids for shift on policy

Former Allied Dunbar deputy chair Lord Joel Joffe is calling for

compulsory representation of policyholders on the boards of life insurance


The cross-bencher plans to raise the issue as an amendment to the

Financial Services and Markets Bill which is at report stage in the House

of Lords. His chance will come after Easter.

The move comes as Standard Life faces a second attack from carpetbagger

Fred Woollard.

The test case that Joffe will be using is orphan estates. These are

accumulating pile of assets that exist within the reserves of insurance

companies. It is not clear who owns this equity – the policyholders or

shareholders. Joffe says if policyholders had a direct presence on the

board, their interests could be better represented.


DBS anger at Bankhall claims on members

Support services provider Bankhall has riled network DBS by claiming itdiffers from networks because it does not own its members.DBS became incensed when it saw the presentation that financial servicessoftware provider Lynx made to analysts prior to its acquisition ofBankhall.One slide in the pres entation, used to describe why Bankhall was betterthan the competition, says: […]

Bupa International is….

Bupa International is investing £8.5m in its services to customers andbrokers internationally. The drive includes a new website for brokers whichthe independent healthcare provider says will improve the quality ofservices that intermediaries can deliver and will be backed by a newadvertising campaign.Pictured above is a still from Bupa International new corporate videoentitled, Seven Seconds Away.

Actuaries fear legal action on pension advice

The Institute and Faculty of Actuaries fears its members could face a raftof legal action over changes made to pension schemes under the Pensions Act1995.It follows a decision by the institute to seek “opinion from counsel” overSection 67 of the Pensions Act 1995, that it sees as a grey area open todifferent interpretation.The section requires […]

Rolling Jones gathers head of steam

Gareth Jones, managing director of Abbey National&#39s wholesale bankingdivision, achieved his lifelong ambition recently when the mort gage bankbought a rail company.Jones is a rail fanatic and apparently spends holidays driving steamtrains and wagons around the world.After the purchase of rolling stock opera tion Porterbrook for £1.4bn,Gareth now has his very own, very expensive train […]


Guide: reporting to the Pensions Regulator — what and when?

Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.


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