Standard Life’s life and pension gross operating profit in the UK rose by 70 per cent to £252m in the first half of 2007, up from £148m in the same period in 2006. Standard Life’s interim results show new business contribution was up by 71 per cent to £133m from £78m due to 45 per cent growth in sales. The group’s gross European embedded value operating profit rose by 71 per cent to £353m, up from £206m but the IFRS gross underlying profit fell by 10 per cent to £219m from £243m in 2006. Standard Life says the discrepancy is due to provision releases and profits from exceptional sales in Germany in 2004 and Q1 of 2005.
A former Conservative Party deputy chairman has been appointed non-executive chairman at Tenet Group.Lord Hodgson of Astley Abbotts was a front-bench spokesman on trade and industry from 2003 to 2006 and deputy chairman from 1997 to 2000.In 1979, he started Granville, a specialist investment banking business which was sold to a US investment bank in […]
Nationwide says affordability constraints, higher interest rates and lower house price expectations are more likely to affect UK property prices in the short term than the current market volatility.The company says the rate of house price growth increased during August by 0.6 per cent but the annual rate fell to 9.6 per cent from 9.9 […]
Getting to grips with the array of power supply offerings is daunting task but the independent watchdog energywatch currently lists 12 accredited price comparison websites and these sites will tell you precisely: “You could save £X with supplier Y.”
OPM Fund Management says it is experiencing problems finding a benchmark for its property fund of funds because it combines a range of property-related investments including property funds, listed securities and Reits.
By Felix Wintle, Manager of the Neptune US Opportunities Fund H1 2014 Economic data: after last year’s strength, economic data has disappointed. Indeed, the economy contracted 2.9 per cent in the first three months of the year — the US economy’s worst performance for five years. However, rather than a symptom of underlying economic weakness or […]
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Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
The FCA working group tasked with setting a template for fund charge disclosure is considering whether one or multiple templates would be more suitable. The institutional disclosure working group, chaired by transparency champion Chris Sier, has been tasked with creating a new template for fund costs and charges following the package of remedies outlined in […]