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Six new members on Equitable board

Equitable Life has announced six new non-executive board members.

They are Opra non-executive director David Adams, former Lord Justice of Appeal Sir Philip Otton, former Royal London chief executive Michael Pickard, former Price Waterhouse Coopers senior partner Peter Smith, former AMP Asset Management managing director Andrew Threadgold and former Irish Life chief executive Jean Wood. While law firm Herbert Smith has been appointed to investigate negligence claims against former directors and advisers.


NU cross-subsidy for stakeholder

Norwich Union is to cross-subsidise a 5.75 per cent bonus rate on its with-profits stakeholder plan with funds from its traditional with-profits fund if the stakeholder version should underperform. Existing with-profits policyholders will not receive any reward for funding the returns but NU believes the chance of having to make a payout is slim. Industry […]

Income protection sales up

Sales of income protection insurance, formerly known as permanent health insurance, increased by 3 per cent to 180,000 new policies in 2000, from 174,000 policies in 1999, according to a report by GE Francona Re.IFAs strengthened their position in the market, increasing their share of total sales to 42 per cent in 2000, from 40 […]

BFS Investments – US Special Opportunities Split Cap Trust

Wednesday, 18 April 2001.Type: Split capital investment trust.Aim: Income and growth by investing in equities and convertibles issued by US smaller companies and UK high yield securities.Minimum investment: Subject to negotiation with stockbroker.Maximum investment: No maximum.Investment split: US 60 per cent, UK 40 per cent.Types of share: Zero-dividend preference shares, income shares, capital shares.Isa link: […]

Scottish Life International launches 5th Income & Growth Bond

Scottish Life International is launching the fifth in the series of its Income & Growth Bonus Bond, the first four of which achieved combined sales of £200m since February 2000.Series 5 of the Income & Growth Bonus Bond offers either gross annual income of 11.2 per cent each year or 2.7 per cent each quarter […]


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