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Norwich Union offshore sales leap 60 per cent

Norwich Union International has reported a 60 per cent rise in its offshore sales in 2007. Offshore sales last year were worth a total of £521m compared to £325m in 2006.

The Dublin-based offshore business from Aviva says sales of unit-linked offshore bonds more than doubled to £280m – up from £135m in 2006.

Norwich Union director of marketing Neil Davies says: “We’re delighted with our new business figures, which have continued to grow strongly in recent years. Sales in the UK have grown strongly because we have continued to enhance Premier Portfolio, our flagship open architecture wrapper. For example, in 2007, we have created a market-leading discretionary manager proposition, with in-specie transfers being one of many new additions.

He adds: “The attractiveness of discretionary asset management has continued to grow strongly. More advisers and discretionary managers are combining their skills to create compelling customer offers, and offshore bonds are a critical ingredient to this mix.”


Threadneedle takes over Invesco’s DC business

Threadneedle has bought Invesco Perpetual’s full-service defined-contribution pension business which has total assets of £470m.Threadneedle launched its DC product in 2001 and manages pension funds for over 100 clients with total assets of around £1.3bn. It intends to grow DC business and says Invesco’s transferred clients will get access to a broader fund range, improved […]

Inflation increases to 2.2 per cent in January

CPI annual inflation increased to 2.2 per cent in January, up from 2.1 per cent in December.The Office of National Statistics says the largest upward pressures came from a 1.3p increase in the average price of petrol and food prices which fell by less than last year.Liberal Democrat shadow chancellor Vince Cable says the figures […]


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