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RSA to cut 700 jobs

Royal & Sun Alliance is cutting 700 jobs in an attempt to minimise losses inflicted by the summer floods.

Chief executive Andy Haste says 500 jobs will be axed in the UK and another 200 in Europe in an attempt to save £70m.

The June floods set the insurer back £55m which contributed to its first-half operating profits dropping from £416m to £403m. The July floods cost RSA another £65m which will likely impact on the insurer’s second-half profits.


No surrender

I concluded my last article – relating to pension rights in divorce proceedings – by expressing my opinion that pension sharing orders will become more widely used in the longer term as their relative simplicity is accepted.

Bateman is latest to follow Falcon duo

Bateman Financial Management has become the latest adviser firm to defect from national IFA Kilminster to Falcon Group.The Liskeard-based firm, headed by chairman Richard Bateman and director Ian Keiller, focuses on high-net-worth clients, small business owners and key employees of local companies.Bateman was previously a board member at Kilminster and remains a shareholder. He has […]

Focus on profits pays off for Pru

Prudential’s profits surged by 39 per cent in the first half of this year despite the restructuring of its UK arm which resulted in sales falling by a fifth.Interim profits were £2.08bn compared with £1.47bn in the first half of 2006.New business premiums for the group rose by 12 per cent on an annual premium […]

LV= appoints Hopkinson and Heard to IFA division

LV= has boosted its intermediary division by appointing Chris Hopkinson as head of national accounts, Carl Heard as national account manager and four new key account managers.Heard previously worked at Legal & General where he was heavily involved in a number of protection and e-commerce initiatives.LV= has recruited four new key account managers to develop […]


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