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Myners launches mutual review

Paul Myners has today published a consultation document seeking views about the governance of mutual life offices.

The consultation will also look at wider issues arising from Lord Penrose&#39s report into Equitable Life that relate to the role of non-executive directors in complex businesses.

Myners will examine the role of policyholders and regulation in the governance of mutual life offices and the structure of the UK mutual life insurance market.

Myners says: “Mutual life offices are a sizeable presence in the market for life insurance in the UK. My challenge is to promote in this sector the very best corporate governance practice, providing a sound basis for its future health and prosperity.”


Tiner&#39s pay packet soars to £471,000

FSA chief executive John Tiner was paid £471,656 last year, a big rise from £361,904 in the previous year. The total includes a basic salary of £310,971, a performance-related bonus of £52,000 and other benefits of £108,685, including £47,741 towards his pension. The FSA says Tiner&#39s increased salary this year reflects the additional responsibilities he […]

Bright Grey rethinks life cover rates

Protection provider Bright Grey has made changes to its life cover rates. The firm hopes the changes will help it move up the comparison tables in certain areas of the mortgage protection market, with changes being most effective for non-smokers aged 30 to 40 with terms of more than 25 years. There is average fall […]

Principia expands with launch of brokerage

Financial services firm Principia Group has started a specialist mortgage brokerage, Principia Mortgages. Directors Simon Downey and David Sheppard, both formerly of Aspen Morton, will run the company, which will service the clients of Principia Consulting, the group&#39s IFA division, as well as new clients. Principia Group director Ed Lorman says delivering an effective, reasonably […]

Summit gets to the point of sale

Attentiv Systems Group is offering a regulation-ready mortgage point-of-sale system. The summit mortgage sales system can be used across all distribution channels and offers integration with Attentiv&#39s retail banking system. It has been developed with N4 Solutions which specialises in multi-channel financial sales systems. The system&#39s workflow capability will guide the mortgage sales process in […]

Oil industry: only the fittest will survive

The actions of OPEC have forced the oil supply to fall and producers to cut costs and rationalise, says Richard Hulf In an interview with journalist Alexis Xydias, Richard Hulf, manager of the Artemis Global Energy Fund, explains the impact of the fall in the oil price on energy companies. Alexis also quizzes Richard on […]


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