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Primetime Retirement links with Avelo to offer fixed-term annuities

Primetime Retirement has linked with Avelo to make its fixed-term annuity products available on the Avelo Exchange Portal.

Primetime says the deal is part of its aim to grow the fixed-term annuity market. This follows MetLife’s announcement last week that it is exiting the fixed-term annuity space.

The Primetime Retirement Plan is a deposit-based investment that offers advisers and clients a fixed income for six years and a protected maturity amount at the end of the term which they can use to purchase another pension product.

Primetime Retirement marketing director Stuart Wilson says: “These annuities currently produce the highest income on the market for men and women aged 55, 60 and 65. Working with Avelo will allow us to offer our product range to more advisers on a wider scale.”

Evolve Financial Planning director Jason Witcombe says: “This is a sensible move. Ideally, all providers offering a rate driven service should use a tool like Avelo because it makes it a lot easier for advisers to compare products.”


Ageas acquires Groupama Insurance Company

Ageas has acquired Groupama Insurance Company Limited for £116m. GICL offers a range of car, motorcycle, home, travel, personal accident and commercial insurance in the UK. It reported a post-tax profit of £25.9m in 2011. The deal excludes Groupama’s UK broking operations and is subject to regulatory approval. It is expected to complete before the […]


Barclays restructures mortgage intermediary division

Barclays has restructured its intermediary department to improve its service to brokers. The lender has replaced its key account managers, who were responsible for writing business and fostering brokers relationships, with two new national relationship managers, who will be solely responsible for developing relationships and providing marketing help. The national relationship managers will report to […]

Origen records £3.5m loss following systems review

Origen has reported a £3.5m pre-tax loss for 2011 after the advice firm conducted an internal review of its systems and controls. The 2011 loss represents a significant drop compared with the previous year, when Origen recorded a pre-tax profit of over £1m. Origen says review costs of £787,000 have been recognised in the 2011 […]

PruProtect extends life cover booster offer

PruProtect is extending its cover booster offer, which gives customers taking out its life and serious illness plan an additional 30 per cent life cover free of charge for three years, until the end of February. The deal was initially launched in June and offered the additional cover to customers who took out cover before […]

Mothers missing out on millions

By Steve Webb, director of policy and external communications The ninth Royal London Policy Paper discusses how thousands of mothers are missing out on state pension rights when they don’t have to Earlier this month we published the ninth Royal London Policy Paper, entitled ‘Mothers Missing out on Millions’. It focuses on the thousands of mothers […]


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