View more on these topics

Too much dependency on rebroking, says Canada Life

There is too much dependency on rebroking existing group income protection schemes, says Canada Life head of group IP Colin Micklewright.

After recording an increase in business volume this year, Micklewright says the market is concentrating too hard on rebroking the already-written 21,000 group IP schemes.

He says: “Whilst we are seeing some new to market business, proportionately the weighting is very much on the rebroking of existing schemes.”

However, Micklewright says the Welfare Reform, out in October, will pave the way for more group IP sales.

He says: “Once the employer and employee gets the message that state benefits will be more difficult to obtain, there should be more appetite for private provision. Certainly in the individual market but hopefully in the group market too.”

Micklewright also highlights the shift in what consumers and corporate bodies are now looking for, bearing in mind the pressures on cost.

He says: “It’s not so much the insurance people are looking for it’s the added value services, that would be the insurers’ capabilities of looking after the claim, committing the right medical resource and making sure the employee gets as much support in getting back to work.”


Friends weathers storm

Friends Provident says it is determined to ride out the economic turmoil despite profits falling by 20 per cent in the first half of this year.

Under The Influence

For some years now, I have delivered a lecture on the wealth management industry to a group of college students from America. Last week, a couple of dozen of them listened to my opinions on where wealth management was heading and why it was such a dynamic industry.

CGT entrepreneurs' relief

Entrepreneurs’ relief is due, subject to meeting certain conditions, in respect of capital gains arising on ‘material disposals of business assets’. These ‘business assets’ include: Read more


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