Standard Life is releasing its claims statistics for testicular and prostate cancer to raise awareness of the diseases.Testicular cancer is the most common form of cancer for men and accounted for 23 per cent of all male cancer claims at Standard Life in 2004. The insurer paid out 1.5m on 17 claims, with one ongoing. The average critical-illness claim was 85,578.40. It also paid out 118,125 on six death claims relating to testicular cancer. Fifty per cent of claims came in the 31 to 40 age group. Prostate cancer is predicted to overtake breast cancer as a diag- nosed condition in the next decade because of the ageing population and rising levels of detection. Standard paid out 141,252 on three critical-illness claims and over 3m on 102 death claims related to prostate cancer. The insurer is supporting the Everyman campaign to raise awareness in this area. The campaign – which has the tagline “The family jewels aren’t all you need to cover” – aims to highlight the importance of protecting health as well as possessions. Incidence of testicular cancer has risen by 70 per cent in 20 years while one man in 20 is diagnosed with prostate cancer in the UK. PR manager Patricia Corri-gan says: “We have pulled together these claims statistics to reflect the instances of male cancer and show where valid claims are paid.” IFA giant Sesame saw a 5 per cent fall in turnover last year and is currently the sole loss-making sector of parent Misys, even though membership increased by 20 per cent. Preliminary results for Misys, announced last Thursday, reveal that Sesame’s revenue fell to 319m for the year to May 31, 2005, from 335m the previous year although it says Sesame’s performance is in line with expectations. The report says Sesame incurred an operating loss of 24.6m – including a 22.2m write-down of goodwill – which was slightly down from the previous year’s loss of 26.9m. Misys says the sale of the network is still a priority and will take place within the next year. Chief executive Patrick Gale says the business will be attractive to a wide net of interested parties, including product providers and private investors. He says providers with an interest will not be limited to those on its multi-tie, Sesame Select. The panel, announced last Thursday, consists of Axa, Legal & General, Norwich Union, Standard Life and Prudential, which Gale says helped develop the multi-tie strategy as far back as two years ago. Sesame has experienced high volumes of endowment complaints against IFAs, having to put aside around 10m for dealing with complaints. The network is currently at an advanced stage of the FSA’s thematic review of structured capital at risk products, for which it has put aside 2.8m. Membership has grown by 20 per cent to 8,150 registered individuals, 5,050 of which are with Sesame Direct, while the network has 3,100 appointed representatives. Gale says: “Misys is a technology business while Sesame is a distribution business. I think it will be both better for the group and better for Sesame once we manage to find a better home and become an independent company.”
Sirius has announced the integration of its Swift product with Assureweb aimed at saving advisers time and reducing errors in the production of quotes and submitting new business. The insurance technology provider says the partnership will be phased in this year and demonstrates its commitment to supporting the industry goal of straight through processing.It says […]
Credit Suisse Asset Management has announced the dates of its 2005 multi-manager roadshow for IFAs. Robert Burdett and Gary Potter, joint heads of the firm’s multi-manager services. will be visiting 14 venues during September. It starts in Glasgow on September 5 and finishes in London on September 16.
Henderson, First State, Fidel-ity and Investec are among the investment worst firms in Bestinvest’s six-monthly Spot the Dog report. Henderson has 1.02bn of dog funds out of 6.07bn, but director of UK wholesale Phil Jefferson, who has seen the report, says the recent recruitment of Graham Kitchen and Andy Jones is part of a range […]
Investment firm Shep- herds (Financial) Limited, which ran an offshore viatical fund which invested 26m in collapsed American life office MBC, is holding a creditors meeting on August 9 to consider the appointment of a liquidator.
“Nothing tastes as good as skinny feels,” said supermodel Kate Moss, who is not often credited for her insights into policy making. Perhaps she should be. In politics, as in matters of diet, the course of action that is the best over the long term is often not the most desirable course of action in the short term. Add the instant gratification of the democratic electoral cycle and, instead of good policy making, you sometimes get the equivalent to a midnight binge in front of the fridge.
The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]