View more on these topics

Standard carpetbagger describes latest development as worrying

Standard Life carpetbagger David Stonebanks says news that the mutual insurer is in talks with the FSA over the calculation of its realistic balance sheet is worrying and gives more weight to the demutualisation argument.

Stonebanks says that as a policyholder the development is worrying, however he believes it is likely only to impact on future bonus rates. He believes the situation makes a potential float more likely, as it may need to raise more capital.

Between he and his wife, the couple own eight Standard Life with-profits policies worth around £100,000. He has currently collected1730 signed request forms aimed at forcing Standard to hold a special general meeting to vote on demutualisation. He needs 1000 complying forms to force the meeting.

Stonebanks says: “I think the only concern is that our future bonuses might not be as much as we would have hoped.”

Recommended

Bupa creates new group risk business unit

Bupa has set up a new London based group risk business unit, aimed at moving forward its group risk market. Former Swiss Life group risk business managing director Graham Clark has been appointed director, with 10 former Swiss Life employees recruited to the new commercial management team. Bupa director of sales and distribution Steve Flanagan […]

No reason to panic over Standard&#39s solvency says McPhail

It is premature to suggest there is a solvency problem at Standard Life despite several reports today according to Hargreaves Lansdown head of pensions research Tom McPhail. He says new solvency guidelines from the FSA are only now starting to be applied to the life insurance sector, and it is too early to tell how […]

Sesame determined to build the leading multi-tie panel

Sesame has pledged to assemble the best multi-tie panel in the marketplace after depolarisation, saying it will have failed its members if it does not achieve its aim.Speaking to Money Marketing, Sesame commercial director Martin Davis says the introduction of multi-ties into the distribution framework is a perfect opportunity to address some of the fundamental […]

Abbey launches two new structured plans

Abbey is launching two structured products offering investors growth with full protection. The protected growth plan will return 100 per cent of any growth in the FTSE 100 over five and a half years, no matter how far the index falls. If the plan is up at least 30 per cent at the end of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com