Hints and tips:
...AEL, as it’s known, is one of the biggest peddlers of retirement annuities....
...According to one company’s estimates, the aggregate risk margin held by the life insurance sector may have roughly halved between the end of 2021 and the third quarter of this year....
...With food price inflation nudging 15 per cent, this jars against ministers’ repeated assurances to “protect the most vulnerable” as prices soar....
...A range of strategies is available, including taking out insurance products such as term assurance, making sure any annuities are purchased not for one person but on a “joint life” basis, or using the equity...
...Sales at the company’s other division, refractory products, were flat....
...The London-listed company has now said it will offload the remainder of its Italian operations for €873m in cash, selling Aviva Italy’s life insurance business to France’s CNP Assurances and its general...
...On Wednesday, KKR became the latest Wall Street investment group to make a move into annuities, buying Global Atlantic, the former life assurance unit of Goldman Sachs, in a deal worth roughly $4.4bn....
...than) that of the Prudential Assurance Company....
...According to the FCA, the company failed to tell customers with health problems that they could have bought a better “enhanced” annuity elsewhere....
...In 2015, for example, it sold an £875m annuity book, comprised of 31,000 policies, to Canada Life....
...Making transgressors howl gives greater assurance that they won’t reoffend. The risk is that corporate lifers view puny penalties as the cost of doing lucrative business. Own Goals?...
...Bob Moritz, global chairman of PwC, said he believed recent changes to its UK business, such as splitting its audit and assurance business, were “sufficient” to convince MPs not to force a break-up of the...
...And Credit Suisse from the conference call: While near-term trading remains challenging, and management expects Q2 to be worse than Q1, the company sees growing demand for quality, safety and assurance...
...Ms Ross also advises people to review their protection policies including life assurance and income protection....
...It was often known as assurance — the promise that people could ease their worries by obtaining a guarantee of equal financial treatment with their peers....
...Chris Wiscarson, Equitable’s chief executive, put the company up for sale earlier this year, and has now agreed to sell it to Life Company Consolidation Group, which specialises in buying up old books of...
...the company gave last week....
...Another, from the European Parliament, describes Equitable’s guaranteed annuity rates as “a time bomb”....
...Although Standard Life has a £15.3bn back book of annuity policies, the company’s focus has been on asset management, a move cemented by its takeover last year of Aberdeen Asset Management....
...As part of the demerger plan, M&G Prudential in the UK will exit the annuity business with a sale of its £12bn annuity portfolio to Rothesay Life....
...However, the obvious inadequacy was that KPMG’s auditors simply “accepted” HBOS’s funding assurances without asking too much more....
...The life assurance business, Prudential UK & Europe, was long at the heart of the group....
...Since the pension freedoms were introduced in April 2015, half a dozen annuity providers have stopped selling their products on the open market, including Reliance Mutual, Friends Life, Partnership Assurance...
...He is putting M&G, the group’s fund management arm, in its place, clamping it together with the Pru’s life assurance business. It solves many problems....
...And Prudential, which has stopped selling new annuities in the UK, is looking at options for its £45bn life assurance back book although in the short term the company is thought to be looking at ways to...
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