View more on these topics

MetLife’s bond duo aims to test Jersey prospects

MetLife will look to expand its range of Jersey-based pension products if its initial launch of two guaranteed bonds is successful.

Earlier this month, MetLife confirmed plans to launch Jersey-based guaranteed growth and guaranteed income bonds imminently.

The growth product offers a choice of three BlackRock portfolios – defensive, conservative and cautious. All capital is protected and growth is locked in at the anniversary of the contract.

The income product also uses the three BlackRock portfolios and is guaranteed not to fall in value, irrespective of investment conditions.

MetLife has appointed Paul Frankland as sales development manager. Frankland joins from Aviva, where he was investment sales man- ager.

He has worked in financial services in Jersey for the past 17 years.

MetLife product marketing director Peter Carter says the provider could launch more Jersey-based products if its initial foray is successful.

He says: “We looked at the market in Jersey and we thought it was significant enough to take it forward and sell some business.

“If the guaranteed growth and guaranteed income products go well then we will look at other products that we have tried in the UK for launch in Jersey. We are trying to mirror the success we have had in the UK over there.

“I would imagine that if we are successful then other providers who are not in Jersey already will have a close look.”

Prudential International, Skandia and Scottish Widows also write pension business in Jersey.

Prudential International investment manager Paul Fiddell says: “The Channel Islands is an important market where we have been active for several years.

“MetLife’s entry can be seen as a further recognition of the importance of what is a small but growing market.”

Recommended

Simon Chamberlain: IFP ahead of the game

We are fast-approaching the silver anniversary of the Institute of Financial Planning. I know many of you reading this will be wondering why this is significant and what has it ever done for you? I believe that without the IFP, we would not, as an industry, be as well placed as we are today to […]

Dog days for global funds

Global fund managers have come under the spotlight for poor performance after the sector came last in the latest Bestinvest Spot the Dog survey. According to the survey, the number of under-performing funds in the global sector more than doubled from 11 in 2010 to 27 this year, out of a total of 108 funds. […]

International jurisdictions

By Neil Jones, Canada Life Investing through international providers has grown in popularity over recent years as investors seek out the benefits of gross roll-up and the wider range of investment options that can be available. When considering a recommendation for a lump sum investment, not only does the adviser have to select a suitable tax wrapper […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment