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Merger madness to create a mega insurance group?

As the tumbleweeds blow round the derelict offices of Equitable Life, the insurance company to end all insurance companies will be born.

The merger and acquisition frenzy of 2000 will culminate in the creation of the mighty ScottishAbbeyTSB CGNPru.

But will even it be able to put a stop to Alasdair Buch anan making his regular app earances in Out of Context?

Nobody will notice the launch of stakeholder or 1 per cent charges across the industry as we&#39ll all be under the spell of the insurance Big Brother, the aforesaid Scott ish AbbeyTSBCGNPru who will rule the world using technology.

And the poor orphans. It seems likely they will go hungry this year, with policyholders and life offices all asking if they can have some more, fighting it out to get their hands on their assets.

But I am sure the IFAs will be on hand to help advise them on what to do with their new-found cash.


&#39Heir apparent&#39 leaves Widows

The unexpected departure of Scottish Widows deputy chief executive Charles Thomson has stirred speculation that parent com pany Lloyds TSB is lining up someone for the job. There is now no heir apparent to chief executive Mike Ross after losing two deputies within months. His other deputy Bill Main moved to Scottish Widows Investment Partnership […]

Rivals approach Equitable sales staff

Equitable Life&#39s attempts to sell its 450 sales staff are under threat from rivals seeking to poach the most productive staff members. National IFA Inter-Alliance hoped to take over about 300 of the most productive staff and Lighthouse said it was in talks with about 20 Equitable employees. Equitable still hopes to sell its workforce […]

Edinburgh Fund Managers awarded new bank mandate

Edinburgh Fund Managers has been awarded a £25m mandate from Bank of Bermuda. Edinburgh will take over the management of the active UK equity portfolio, part of Bank of Bermuda&#39s All Point Multi-manager product offering. The appointment was the result of a search carried out by Bank of Bermuda&#39s manager research team, with the assistance […]

Pinnacle bond pins hopes on Nasdaq

The protected bonus bond from Pinnacle Insurance is a single premium bond that is designed for investors who usually opt for building society accounts.The bond is linked to the performance of the Nasdaq 100 index over a five-year term through the Pinnacle protected bonus bond fund.Investors will get their original capital return plus up to […]


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