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Commercial Union and Guardian Royal Exchange saw their share prices dip after the worst UK floods in 50 years. CU&#39s share price closed down by 15p to 1265p, with GRE&#39s share price falling by7.75p to 432.25p on Tuesday. Estimates of the cost of the floods to the insurance industry range from £400m to £1.2bn.


Marshall replaces Ions at Aberdeen Prolific

Gary Marshall has been named sales and marketing director at Aberdeen Prolific, replacing John Ions who has left to join Société Générale Asset Management.

PI insurers in pledge on cover

Leading professional indemnity insurers have acted to reassure IFAs that their bills will not rise following the introduction of the PIA Ombudsman Bureau&#39s new £100,000 compensation limit. The PIA announced the increase, backdated to January 1, last week after over a year of wrangling with PI insurers. When the increase from £50,000 to £100,000 was […]

Schroder Peps aim to make decisions simpler

After a disappointing 1997/98 Pep season, Schroder is launching three new Peps for the current tax year designed to simplify the decision-making choice for investors. The three Peps include a higher-risk package with exposure to smaller companies and non-UK markets, a lower-risk package which is UK-based and a package designed to provide income and growth. […]

CIS financial-strength figures

In last week&#39s Financial Strength Survey, the reduction-in-yield figures in table E for CIS related to industrial business instead of ordinary business. Correct ordinary business values are 2.6 for 10-year endowments and 1.2 for 25-year endowments. Personal pension values are 2.5 for 10 years and 1.2 for 25 years.


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