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Pru application for PIA gets go-ahead

Prudential&#39s application to join the PIA has gone through after it announced its intention to join in December last year. It can now be fined for compliance breaches, a power not open to its previous regulator SIB.

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Axa presses on with £40m bid for global brand

The Axa Group is launching a £40m advertising campaign in a bid to build its brand name across the globe. The group, parent of Axa Sun Life in the UK, is aiming to build a single brand across the world by 2000. The campaign, which breaks this week, includes TV and press ads which feature […]

Clarification on UK presence for offshore firms

The Finance Bill, published last week, has clarified the Budget announcement that offshore life offices will have to have a financial presence in the UK. The Bill indicates that any office which does not offer a representative will be forced to join an agency set up by the Government. The move is part of a […]

ScotEq achieves S&P AAA rating

Standard & Poor&#39s has confirmed a triple-A rating for Scottish Equitable. This covers local currency counterparty credit and claims&#39 paying ability. The credit-ratings agency commended ScotEq for having a strong level of capitalisation and business position, excellent expense management and good financial flexibility. It says ScotEq has a conservative investment strategy and believes the life […]

Inter-Alliance issue brings in £3m

Ambitious new IFA Inter-Alliance has raised more than £3m prior to seeking a listing on the Alternative Investment Market. The issue is well in excess of its minimum target of £2.2m and includes support from institutions, private investors, directors and staff. The company has 11 offices and 80 registered individuals.

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