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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Simon Collins: FCA tightens grip on value for money
It is likely the increased regulatory scrutiny on fund managers’ value could filter down to advice firms in the future In my last article, I considered the influence a non-executive director could have in challenging an advice firm’s business model in light of the pension transfer issues. Now, in its asset management market study final […]
Industry failing to nudge people to consider pensions options
The financial services industry has failed to find ways of nudging consumers to think about their options at retirement, despite three years of pension freedoms. A panel at the Association of British Insurers retirement conference today lamented the way companies talk to people about pensions and the lack of engagement it inspires. ABI director general […]
Boss of new financial guidance body to get £175k salary
The new chief executive of the single financial guidance body can expect a salary of £175,000 a year, according to a job advert posted online. The advert, posted on the Cabinet Office website says applications will close in mid-May with final interviews held in early July. The date for announcing the successful candidate has not […]
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