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Royal London to unlock orphan assets

Royal London is in discussions with the FSA to unlock around £65m of orphan assets acquired from a subsidiary company.

The assets come from Refuge Assurance, which Royal took over when it bought United Assurance for £1.6bn last April. Refuge Assurance merged with United Friendly in 1996.

The move follows Axa’s successful court case to distribute its orphan assets and will affect up to 200,000 Refuge policyholders.


Internet security problems need higher priority

Half of all insurance professionals, including IFAs, would not gamble on the security of their IT systems, according to recent research by CMG. A survey of insurance professionals by CMG subsidiary CMG Admiral reveals half of them would not bet more than £163.1 that their IT systems are safe from security attacks. The results suggest […]

Flexibile annuity from the Pru

Prudential is aiming to give clients greater choice and flexibility with the introduction of its flexible lifetime annuity.This with-profits and unit-linked annuity has a choice of three investment strategies — cautious, standard or adventurous — plus a self-management option that allows investors to choose their own funds. There are 13 funds available including the Prudential […]

Standard Life cash plan joins corporate clan

Standard Life is extending its healthcare cash plan to the corporate market.The corporate health cash plan is available for groups of three or more employees. It has 24 cash benefits including dental, optical and hospital stay and has four levels of cover. Premiums can be paid monthly or annually on a single or joint life […]

Whiteoak to set up small-cap fund for Framlington

Framlington is starting the 2001/02 tax year by launching a UK smaller companies fund run by star fund manager Roger Whiteoak. The fund will open on April 9, with a launch period to April 27 offering 1 per cent off the initial charge of 5.25 per cent. Whiteoak was recruited from Rathbone Unit Trust Managers […]


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