Shares in Sedgwick Group rose by 5p to 146p as the firm posted a 6 per cent increase in pre-tax profits for 1997. Pre-tax profits grew to £101.2m from £95.5m in 1996 but the strength of sterling hit the figures by £10.2m.
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The PIC of the bunch?
One of the greatest challenges facing the UK as the millennium approaches is support for its ageing population. It is already becoming clear that ensuring that individuals are self-sufficient in retirement is high on the Government's agenda. Consumer surveys still show a worrying lack of knowledge regarding the question of post-retirement provision and, more worryingly, […]
Credit-impaired loans from Verso
Verso is rolling out two mortgages targeted at borrowers with poor credit ratings as part of its drive into the IFA market. Launched by Britannia Building Society with £6m investment, Verso is dedicated to the IFA market. Its Rent and Buy product lets borrowers move house and rent out their old property. Borrowers repurchasing or […]
PERSPECTIVE
A medium-sized life office, NPI has found it impossible to shake off rumours that it is about to demutualise at a time when life offices with similar problems, such as Scottish Amicable, are being taken over. It has been a turbulent few years for NPI. April 1998: NPI announces a £260m securitisation deal. February 1998: […]
Higher return from lower expectations
I was very surprised by the comments of the normally excellent Julian Gibbs (Money Marketing, November 20). He is completely mistaken to say that “in reality it is most unlikely that any of the major world stockmarkets will be lower in five-and-a-half years”. He should know that it is only because there is a very […]
Mark Page: why my biggest overweight stock is a discount Spanish retailer
Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]
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Phil Jeynes: Insurers have to be smarter on mental health
Last month, the BBC’s Money Box covered the story of a protection customer who had seen her quoted life and critical illness premium rise by around a third after she disclosed a historic mental health issue. The woman was taking cover as a parent of young children and had originally chosen an insurer after getting […]
CISI sets up financial planner mentoring helpline
The Chartered Institute for Securities and Investment has set up a helpline for participants in its financial planning mentoring scheme. The helpline, which is being supported by Schroders, will be open to mentors and mentees on the programme, which started on the first of January this year, looking for support in achieving professional financial planning […]
Collapsed wealth manager’s Sipp book sold for £820k
Collapsed wealth manager Greyfriars Asset Management sold its Sipp and SSAS administration business to Hartley Pensions for £820,000 an update on Companies House shows. Money Marketing previously discovered Hartley took on 1600 Sipps, 160 SSAS and almost £500m assets under management onto its books for an undisclosed sum, with fresh documents now revealing the value […]
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