News

Britain's ageing population and changes to workplace pensions proved lucrative for Resolution during the first half of the year.

Julian Knight: The danger of driving the Bank of Mum and Dad and the Building Society of Gran and Grandad to the wall

You've no doubt heard of the bank of mum and dad but what about the building society of granny and grandad?

Wealth Check: Can I fit short-term plans around long-term needs?

A debt-free freelance writer hopes to be able to buy a house later this year, but is worried that she is neglecting her pension

Resolution calls a halt to planned acquisitions

Resolution, the life assurance investment vehicle controlled by Clive Cowdery, has halted its acquisition programme after revealing it is "confident" of meeting its targets on returns without the need to go shopping again.

The Business On... Trevor Matthews, Chief executive, Friends Provident

So he's been kicked upstairs?

Derbyshire sign rising Aussie star

Derbyshire have signed Usman Khawaja, who made his Australia debut in the Ashes, for the forthcoming season. The 24-year-old will be available from the beginning of the campaign through to the conclusion of the Friends Provident T20 competition.

F&C defends itself against rebel investor shake-up

F&C Management yesterday launched a staunch defence of its business against the American activist investors it said were attempting to seize control of the fund management company on the cheap.

FSA hits Scottish Equitable with £63m bill for failing customers

Scottish Equitable, the UK arm of Dutch insurer Aegon, was yesterday handed a Christmas to forget by the Financial Services Authority (FSA) which hit the company with a £2.8m fine and ordered it to pay £60m in redress to customers for "causing significant consumer detriment" through sloppy administration.

Business Diary: City shows where its interest lies

We're not saying that people in the City are heartless, but you can't help raising an eyebrow at the results of a survey published yesterday by the Chartered Institute for Securities and Investment.

David Prosser: The market doubters undermining Resolution's insurance experiment

Outlook There has been a sudden change of tack from John Tiner, chief executive of Resolution. Since this endeavour first floated two years ago next month, its ambition has been to build a portfolio of British life insurance businesses worth £10bn. Having got almost two-thirds of the way with the acquisitions of Friends Provident and the UK life business of Axa, a third big buy has been promised and is keenly awaited. Yesterday, however, Mr Tiner said the company might now opt for a series of smaller deals to achieve its goals and that another big takeover was not inevitable.

No inheritance is left for the kids: it went on tuition fees

In the week that saw students facing up to a grim future of higher tuition fees, a report from the pensions provider Friends Provident reveals that parents are increasingly looking to pass on their wealth to their children when they are alive rather than after death.

Resolution in Bupa insurance deal

Resolution, the Guernsey-based company that wants to create a British "super-insurer", added another string to its bow yesterday with the purchase of Bupa's income protection, life assurance and critical illness cover business for £165m.

Barr strengthened by Irn-Bru growth

Irn-Bru maker A G Barr reported a 19 per cent jump in profits yesterday as consumers in England and Wales got a taste for "Scotland's other national drink".

City official calls for 'living wills' for Britain's insurers

Industry-wide plans should be made in case of a company's collapse. Julian Knight reports

Last chance for Trescothick's nearly men

Marcus Trescothick and his Somerset side have had little more than 24 hours to digest their second major disappointment of the season but the former England opener is sure they will be ready for their final chance of silverware at Lord's today.

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