Regulator levies record £28m fine for scheme that encouraged aggressive sales
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Wednesday 01 April 2009
Outlook Yesterday's proposal from the Financial Services Authority to guarantee sums of up to £500,000 under the deposit compensation scheme so as to cover life- changing events such as the sale of a house looks sensible enough, but it is for the time being also completely irrelevant.
Sunday 22 March 2009
Life insurer Scottish Widows has been issued with two further writs from former corporate clients alleging the firm offered negligent advice over their pension schemes.
Tuesday 10 March 2009
Monday 02 March 2009
American International Group (AIG) posted a record $61.7bn (£43.87bn) quarterly loss today and got a new but not necessarily final government bailout after officials concluded again that letting the insurer fail would threaten the world financial system.
Thursday 05 February 2009
Outlook Norwich Union has spent a packet trying to convince us that it makes sense to change its name to that of its parent company Aviva. Now it proposes to slash the windfall that with-profits policyholders were to have got from the inherited estate. Aviva, Norwich Union, it matters not to downtrodden life fund investors. Every statement seems to bring more bad news.
Saturday 06 December 2008
Sunday 23 November 2008
Saturday 22 November 2008
Saturday 15 November 2008
Payment protection insurance has been giving the financial services industry a bad name for far too long. It's overpriced, hard to claim on, and is often completely inappropriate for the unsuspecting consumers who are sold it.
Wednesday 10 September 2008
Round at the Financial Services Authority, John Tiner is still referred to as "the lucky regulator" on account of the timing of his departure as chief executive. He managed to hand over to the present incumbent, Hector Sants, literally weeks before the Northern Rock balloon went up, and thereby largely escaped the public opprobrium heaped on the City watchdog since for its apparent failure in adequately regulating the banking sector.
Sunday 17 August 2008
Thursday 07 August 2008
Standard Life's profits beat forecasts yesterday but the life insurer warned that the outlook for the sector was impossible to call in difficult markets.
Wednesday 06 August 2008
Barclays Bank is to further improve its capital funding through the sale of its life assurance business to Swiss Re, the Swiss reinsurance group.
Friday 01 August 2008
Wednesday 30 July 2008
Payments averaging £1,000 are to be offered to one million policyholders in two of Norwich Union Life's with-profit funds, insurer Aviva said today.
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