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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Nutmeg sees ‘positive’ reaction to advice service
Digital wealth manager Nutmeg says interest in its £350 flat fee advice service has been positive since its launch nearly 10 months ago, despite low numbers. Speaking to Money Marketing, a spokeswoman says Nutmeg has received around 400 enquiries for its advice service in the last six months. Comparatively, more than 1,000 people had registered […]
FCA finds widespread ‘poor practice’ in CMCs
The FCA has warned claims management companies to raise their advertising standards and ensure their promotions “do not mislead” potential customers as a review found widespread “poor practice”. The watchdog began regulating the claims management industry from 1 April this year. Since it took on the responsibilities of the Claims Management Regulator, the FCA has reviewed more […]
FSCS ‘fails’ to request calls between LC&F and investors
The Financial Services Compensation Scheme’s handling of its investigation into London Capital and Finance has been called into question by the marketing firm used by the collapsed mini-bond provider. The lifeboat fund has been accused of not directly requesting the call recordings between Surge’s employees and investors ahead of its assessment to determine if “advice” […]
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