View more on these topics

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

companies.

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.

Recommended

IFAs caught in the mortgage Cat trap

Intermediaries and lenders believe finalised plans for Cat-markedmortgages have muddied the already murky waters surrounding the role thatIFAs will play in the benchmarked market.Legal & General marketing manager housing market Richard Verdin says: “Igenuinely do not think that IFAs have differential earnings on their mindwhen they are advising on a particular product over another but […]

Dogfight as the fur flies

A week after the Treasury announced its Cat-standard mortgage policy, theOpposition parties remain unconvinced they will accomplish anything towardscleaning up the scandal-plagued industry.Both the Conservatives and the Liberal Democrats have expressed fearsabout the Cat initiative.The Tories believe that Cat products are far too narrow in scope and notlikely to appeal to many prospective buyers.Shadow Treasury […]

Blip in the biotech story

Schroder is kicking off the second Isa season by launching a globalhealthcare fund and analysts believe its timing could not be better.The healthcare sector has been driven by biotech stocks and valuationshave soared. But the jitters in technology stocks have caused biotechs toplunge and analysts expect this could open up a buying opportunity.Framlington sales & […]

Debtor&#39s prison

Flexible mortgages, the new flavour of the month, are being offered by somany lenders now that it is possible that about 25 per cent of allmortgages and remortgages are now “flexible”.That flexibility usually includes features such as the ability to takepayment holidays, the availability of extra borrowing above the initialmortgage amount secured on the property, […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment