Norwich Union claims its strong sales figures in the UK in the first nine months are largely down to improved service standards.Parent group Aviva figures show total worldwide sales rose 22 per cent to £22,718m from £18,601m in the same period last year. NU’s UK life and pension business grew by 31 per cent from £6,686m to £8,791m. With-profits bond sales more than doubled to £552m and UK investment sales overall shot up by 96 per cent from £855m to £1,673m. But equity-release business was down by 16 per cent to £235m and annuity sales were down by 6 per cent. NU says annuity business is down because it is continuing to price for profit rather than volume and it puts falling equity-release sales down to a “subdued” market. But figures from Safe Home Income Plans released last week show that the equity-release market is growing slowly but steadily. Ship reported a 12.3 per cent rise in sales in the third quarter compared with quarter two. NU UK chief executive Mark Hodges says: “We have had more new business in the last nine months than in the whole of 2005 and we have seen huge growth because of the A-Day changes and our improved service standards. We predict good growth in the next year as the A-Day effect wears off. “The equity-release market is still contracting but we have just over 30 per cent of the market share. We are not chasing the annuity market on price.”
Leeds Building Society has launched a 10-year fixed rate homeloan at 4.99 per cent.The mortgage has no higher lending charge, is available up to 90 per cent loan to value and allows 10 per cent capital repayments each year without penalty. There is also a fee free version for customers who require help with fees.Head […]
British Insurance has brought out an income protection plan that differs from many plans on the market in its flat rate premiums for all applicants.
Prudential’s new deferred self-invested personal pension is a Sipp that is structured as a fund option for Prudential’s flexible retirement plan.
Chelsea Building Society
Helping Hand 2 Year Tracker Mortgage
By Jamie Clark, Business Development Manager We take a look at the Pensions Regulator’s latest auto enrolment compliance bulletin and the lessons that can be learned from it. With up to half a million smaller employers expected to reach their staging date during 2016, it’s likely that the Pensions Regulator (and the rest of the […]
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