Life insurers are facing the possibility of new, stricter rules governing financial reporting. The rules deal with market consistent embedded value and are more rigorous than those currently used. There is concern from insurers that they could substantially cut the value of some companies. more.. »
In the latest stage of its Retail Distribution Review (RDR), the FSA outlined how it will target mis-selling by forcing a clearer distinction between sales people and financial advisers. more.. »
A huge mortgage gap affecting an estimated 1.3 million interest only mortgages is revealed by a new survey. It seems that many surveyed were relying on house price increases to meet their mortgage capital repayments. more.. »
A survey found that returns on endowment policies were outperformed by the stock market and even cash held on deposit. more.. »
Hot on the heels of Legal & General’s bonus cuts, Standard Life announced a double whammy for their 2 million with profits customers. Final bonuses will be cut by up to 13 percent while exit penalties in the form of Market Value Reductions (MVR’s) will be increased. more.. »
Legal & General announced they would cut final bonus rates on with profits policies by up to 9 percent. The cut was blamed on poor investment performance and “turbulent market conditions”. more.. »
Norwich Union have announced they will introduce exit penalties in the form of Market Value Reductions for with profits policyholders. more.. »
A bonus payout to one million policyholders in two of Norwich Union Life’s with-profits funds may not go ahead after recent dramatic falls in the stock market. more.. »
Concerns over the stability and safety of life insurers financial reserves cause fall in their share prices and FSA offer of help. more.. »
Norwich Union parent Aviva issued a statement to calm fears over it’s solvency position. Shares in Aviva, the UK’s largest insurer, had fallen in recent weeks reflecting uncertainty over the financial position of the company. more.. »