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Partnership set for £750m sale

Private equity firm Cinven is preparing to sell Partnership Assurance for £750m, according to The Sunday Telegraph.

The newspaper reports that Cinven has spoken to four banks – Morgan Stanley, Goldman Sachs, Lexicon Partners and Deutsche Bank – and is now in the process of choosing a single adviser.

Were an auction to happen, Partnership is expected to receive interest from specialist insurers and rival private equity firms.

A Partnership spokesman says: “We do not comment on market speculation.”



FSA refuses to lower simplified advice qualifications

The FSA says that simplified advice will have to comply with adviser charging rules after the RDR is introduced and advisers offering a personal recommendation will have to be qualified to QCF level four. The regulator published its long-awaited guidance consultation on simplified advice this morning. It outlines that personal recommendations to buy a retail […]


LibDem conference: Steve Webb targets “value for money” in pensions

Steve Webb has reiterated the Government’s intention focus on “value for money” in pensions as the DWP looks to clamp down on high pension charges and cash-incentivised pension transfer deals. The pensions minister (pictured) has previously highlighted concerns about the impact of charges on peoples’ pension pots, raising the possibility of introducing a cap on […]


Hornbuckle sees perfect storm for drawdown

Falling gilt yields are squeezing the income of thousands of retirees who are taking income directly from their pension funds, says Hornbuckle Mitchell. The 15-year gilt index yield used to calculate the maximum that can be taken under capped drawdown has plummeted and was at 2.98 per cent last Friday. This will be rounded down […]

International jurisdictions

By Neil Jones, Canada Life Investing through international providers has grown in popularity over recent years as investors seek out the benefits of gross roll-up and the wider range of investment options that can be available. When considering a recommendation for a lump sum investment, not only does the adviser have to select a suitable tax wrapper […]


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