It is understood that discussions between the protection arm of Widows and Virgin have been going on for the past year and an announcement is expected soon.It is understood that the relationship will be similar to the deal that Widows has with Asda. Virgin Money currently offers life insurance and mortgage life insurance with or without critical-illness cover through Virgin Money Life which is owned by Reassurance UK Life Assurance. Widows market director (protection) Nick Kirwan would not comment but refused to deny a deal. Virgin Money PR and communications director Gordon Maw says: “There is nothing that we are aware of at all.”
The firm is the one-stop intermediary lender of Britannia Building Society and was created from the mer-ger of Britannia subsidiar-ies Platform Home Loans and Verso.
As HBOS continues its dominance in lending, a competitor could be lurking with the Royal Bank of Scotland looking to take a bigger slice of the mortgage market.
First State Investments is aiming to raise up to £20m for its Aim VCT, a venture capital trust which invests in the Alternative Investment Market. The management team for the VCT is led by First State head of UK equities Paul Jourdan, who runs the First State British smaller companies fund. This fund, which contains […]
IFAs have called on the FSA to clear up confusion over whether rebating commission counts as handling client money.
Simon Edelsten, manager of the Artemis Global Select Fund, examines the long-term trends that they have exploited since the fund’s launch five years ago. Looking ahead, he explains the stock-specific opportunities the team are finding. Click here for full article
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Phoenix is set to shed roles in a redundancy round following its decision to buy parts of Axa’s business last year. The closed-book provider snapped up Axa Wealth businesses Embassy, its off-platform investment and pension division and Sun Life, its direct protection business, in a deal signed last May, before also buying rival closed-book operation […]
Hargreaves Lansdown has removed Paul Chesson’s Invesco Perpetual Japan fund from the Wealth 150 list of recommended funds due to its volatile performance. Chesson, head of Japanese equities, has run the £318m fund since 2000 and takes a high conviction, contrarian approach to investing. Investment analyst Dominic Rowles says that while this has led to […]
Firms will not necessarily have to advise on every relevant investment product but it will be difficult to discount structured deposits