The Sedgwick Noble Lowndes name is set to disappear from January 1 as the firm is merged into William M Mercer. The move follows the takeover of Sedgwick Group by Marsh & McLennan, Mercer's parent company, in August. Mercer's UK chairman and chief executive David Barford will assume responsibility for UK operations. Sedgwick Noble Lowndes UK chairman Robert Walker has been forced into early retirement.
Demand for life insurance and pension policies is continuing to rise according to the Association of British Insurers.Its third quarter figures sales of new life policies, individual pensions and collective investment schemes rose by 8 per cent to £7.5bn.Single premiums rose by 16 per cent to £4.3bn and new annual premiums rose 8 per cent […]
Clinicare is opposing a European Commission recommendation that alternative medicine practitioners should be subject to much tighter regulation.The private health insurer says that it can advise policy holders on whether practitioners are bona fide members of an appropriate body and that there is no need for legislation.The EC believes that anyone offering complementary medicines should […]
The PIA is terminating the membership of two investment firms and issuing fines totalling £32,000 to another four.Broadpulse Limited's membership is being terminated because it was struck off the register maintained under The Companies Act 1985 by the Register of Companies.The Financial Partnership is being expelled for failing to obey an earlier Order of the […]
Life offices say they are unconcerned by the ABI's third quarter figures which revealed a 21 per cent drop in pension sales.Life offices say sales dropped in the second quarter because of the Far East crisis but picked up from September when consumer fears of recession eased.They also say that a change in data collection […]
In the run-up to the Budget, there was some concern that the chancellor might ‘call time’ on the use of salary sacrifice in employee benefits provision.
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Pimco has followed in the footsteps of its US rivals Vanguard and JP Morgan Asset Management to announce it will absorb research costs under Mifid II. The California-headquartered bond manager would not comment on the hit to revenues, Financial News reports. JPMAM confirmed last week it would absorb the costs when the European regulation comes into place at the […]
What does “restricted” advice really mean nowadays? Some see this as a question of semantics, others one of outcomes. Either way, the debate was reignited again a few weeks ago by consumer group Which? and its probe into St James’s Place. In a mystery shopping exercise, it found three of the 12 advisers visited did not […]
Murray has emphasised his commitment to the business