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Widows mutuality vote

Life office Scottish Widows is expected to give-up mutual status, moving a step closer to transferring business to Lloyd&#39s TSB group, in a special meeting this week.

Members and policyholders expect to gain at least £500 from a vote supporting the transfer and will meet in Edinburgh for the vote.

To succeed, the board&#39s proposal to de-mutualise, will need the support of 75 per cent of voters, who include 1.6m members and 400,000 other policyholders.

If the proposal is accepted it will then go before Edinburgh&#39s Court of Sessions for final legal approval. If gained the transfer of business to Lloyd&#39s TSB will be effective from March 3 2000.


NatWest attacks predators

The National Westminster Bank has hit out at its Scottish suitors claiming any takeover would offer poor value for money.Natwest claimed the Royal Bank of Scotland&#39s bid held the same mix of inadequate value and high risk as the offer from Bank of Scotland.Natwest also warned shareholders RBS is offering to pay mainly with its […]

PMI charges deemed unhealthy

Moves to contain the cost of private medical insurance may lead to inadequate standards of healthcare, according to William Mercer.The human resource consultancy said plans which provide cheaper premiums through restricted hospital lists may backfire on insurers and sponsoring employees.William Mercer say legal cases in the US show these “managed health plans” were not giving […]

Home boom push on interest rates

The continuing strength of the housing market may trigger the Bank of England to raise interest rates, according to experts.Net mortgage lending rose by £1.59bn in November, while the British Building Societies Association reported a £809m hike in mortgage advances by its members, compared with a rise of £671m the previous month. This suggests house […]

Millennium property boom

The millennium will see the house price boom continue with prices outstripping wages and inflation, according to building society Nationwide.Nationwide expects a 11 per cent surge in house prices following this years 13.5 per cent rise. The building society claims market confidence is set to stay throughout 2000. Abbey National backed Nationwide forecasts with its […]


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