Offshore life office marketing managers have set up a forum aimed at promoting the offshore market to IFAs.
The offshore marketing forum has been established in a bid to raise the profile of the market and educate IFAs about offshore investment opportunities such as inheritance tax planning.
It is the brainchild of Scottish Equitable International product marketing manager Steve Whalley, who has invited 14 rival life companies to join the discussion group. Other leading groups taking part in the forum include Axa Sun Life International and Norwich Union International.
One of the main objectives of the group is to share information about the market such as details of product sales. It also aims to complement the industry's existing trade body, the Association of International Life Offices.
Whalley says: “Almost every major insurer now has an offshore subsidiary but some IFAs still see offshore as a marginalised option rather than a mainstream investment choice. The forum will encourage providers to link up to find ways of addressing this issue.”