View more on these topics

Shares feel force of the storms

As Britain picks up the pieces of the worst storms for a decade, insurers are counting the costs as share prices are hit after the trail of devastation.

On Monday, the share price of the UK&#39s biggest insurer, CGNU, dropped by 1 per cent to 939p from 931p. The drop comes just ahead of the announcement of CGNU&#39s third-quarter profits next week.

Royal & Sun Alliance&#39s share price sank by 3 per cent to 474.75p from 491p, while Legal & General fell by 1 per cent to 165.25p.

But the ABI is dispelling estimates putting the storm damage at £2bn. spokesman Malcolm Tarling says: “The level of damage to insured property is not as bad as it was in either the 1987 or 1990 storms. The figure is closer to hundreds of millions than billions.”


New finance director appointed as Scottish Widows revamping process continues

Scottish Widows has appointed Jim McConville as its new finance director.He will also become the director of finance for the insurance and investments division of the Lloyds TSB group.McConville takes on the role following the recent appointment of Bill Main as chief executive officer of Scottish Widows Investment Partnership.McConville was previously director of group strategy, […]

Why advisers must go with the investor flow

The Isa season in the UK is becoming just about as predictable as the actual seasons i.e. not very.IFAs who in the past have relied on the end of tax year sales boom to concentrate their sales and marketing fire should be warned the pattern is breaking down.The latest Autif figures suggest sales are already […]

Advisers&#39 anger at FSA and CAB talks on trees

The FSA has kicked off negotiations with the Citizens&#39 Advice Bureau on how it will help consumers make use of decision trees for stakeholder pensions.The regulator is also proposing to issue a quarterly newsletter to life offices which may open the door on new decision trees being reissued and updated frequently.The CAB negotiations have angered […]

HSBC trust range in switch to Oeics

HSBC has converted its entire range of unit trusts to Oeics, opening a range of new funds to IFAs.The bank is merging its IFA and bank branch fund ranges into 23 funds grouped under three umbrella Oeics. The total fund range has £5bn in funds under management and stands to benefit from a reduction in […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm