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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Sign up Lib Dems up campaign for state pension equality
The Liberal Democrats have stepped up their campaign for state pension equality, asking new pensions secretary Amber Rudd to address the reasons why women face lower pensions than men. The party has again called for progress on helping women born in the 1950s hit with state pension age rises, a cause popularised by the Women […]
PLSA signs up to Treasury’s gender diversity initiative
The Pensions and Lifetime Savings Association has announced it is one of 33 new signatories that has signed up to HM Treasury’s Women in Finance Charter today. This has pushed up the number of firms that have joined the initiative to improve gender diversity within financial services to 300. These range from global banks to […]
Borrowers spend billions in unnecessary interest: Private Finance
Private Finance has concluded that a borrower on an average standard variable rate could save over £4,500 a year by switching to a two-year fixed rate deal. The mortgage broker says, in total, borrowers pay £15.4bn a year in SVR interest, with the typical rate on a 75 per cent LTV loan being 4.39 per […]
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