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Moody&#39s looks at downgrading Scottish Mutual and Scottish Provident

Moody&#39s is reviewing its ratings of Scottish Mutual and Scottish Provident with the possibility of downgrading them.
The announcement by the ratings agency follows it decision to review parent company Abbey National also for a possible downgrade.

Moody&#39s says it believes support from the parent company could be reduced and that ScotMut and ScotProv has suffered along with other life companies as a result of the harsh investment climate.
Both life subsidiaries currently have a financial strength rating of Aa3.


Hanover Life Re picks new MD

Reinsurer Hanover Life Re has appointed David Brand as its new managing director, effective from this week. Brand has been involved in senior management of the reinsurer for a decade, most recently as deputy managing director. He takes over from Peter Savill, who has been managing director since 1983 and is retiring, although he will […]

Nurseries enterprise

Teather & Greenwood Investment Management has introduced Childcare Corporation 6, an enterprise investment scheme that aims to raise up to £10m for the building and operation of around 10 purpose-built children&#39s nurseries in the Midlands and the South of England.This EIS takes up the objectives of the previous five Childcare Corporation schemes by providing private […]

Morgan Stanley – Morgan Stanley FTSE Optimiser

Friday, 28 February 2003 Type: Guaranteed equity bond Aim: Income or growth linked to the performance of FTSE 100 indexMinimum-maximum investment: Lump sum £5,000-£1m, £7,000 Isa Term: Five years three months Guarantee: Options 1 and 3 – Original capital returned in full regardless of performance in index. Options 2 and 4 – Original capital returned […]

FSA caught in PI insurance trap

A plank for the establishment of the FSA was to protect investors and, we hope, all other operators within the insurance industry. As far as IFAs are concerned, they have no powers to do so any longer.The environment which encouraged and presided over the pension review into so-called misselling was a total abuse of position […]

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.


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