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MD Pain is leaving C&G

Cheltenham & Gloucester has confirmed that managing director Jon Pain will be leaving the firm. Chief operating officer Joy Griffiths will be Pain’s replacement. C&G says Pain will be taking the role of advisory chairman until the end of the year to help support the transition.

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‘Perfect storm’ is forecast for commercial property

The environment for commercial property is now as bad as at the height of the crash of 1989, according to Close Investments managing director property Simon Cooke.He says the market is facing a 20 per cent correction over the next 12 months, with the key City of London office sector to be among the worst […]

L&G scraps duty to disclose rule on forms

Clients no longer have to not-ify Legal & General of any changes to their health or circumstances between the time they submit their protection application and when their policy starts.Industry practice requires applicants to advise on changes to answers on their application form until their cover starts. L&G is the first insurer to abolish this […]

The next generation of cautious managed funds

Most investors want two things from their investment – a stable return with as little risk as possible. One of the best ways to achieve this goal is through diversification at the asset allocation level, in other words, getting the right split between equities, bonds, property and cash at the right time.There are huge diversification […]

Equitable update on Pru transfer

Equitable Life is writing to all policyholders to update them on the transfer of its £1.8bn book of with-profits annuity policies to Prudential.Over the next week, around 400,000 policyholders will get detailed information on the transaction ahead of an extraordinary general meeting scheduled for October 26.All voting members of the society will be invited to […]

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