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Scots Wids appoints new chief underwriter

Scottish Widows has appointed former XL Re chief underwriter John Downes as its new chief underwriter.

Downes, who joins the firm in April this year, is currently responsible for underwriting, claims and the management of client relationships at the reinsurer.

Previous to XL RE, Downes worked for a South African life office as its new business operations manager.


L&G doubles credit default reserves

Legal & General has more than doubled its credit default reserves to £1.2bn and claims its surplus capital stood in excess of £1.6bn at the end of last year, quashing reports about its weak capital position.

KSF IoM liquidation adjourned until April 9

The liquidation of Kaupthing Singer & Friedlander Isle of Man has be adjourned again until April 9 to allow the Treasury more time to work up a scheme of arrangement to help affected depositors.

Inheritance tax – How to declare and who pays

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays the tax. To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB is […]


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