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Gulf IFAs face ‘year of reckoning’ as clients turn away

Gulf IFAs face ‘year of reckoning’ as clients...

Financial advisers in the Middle East are finding clients increasingly reluctant to use their services, partly due to growing geopolitical uncertainty but also because of regulatory changes and poor value-for-money products from asset managers and life companies.

Published : 29, Nov 2016
OMI launches ‘better products’ drive for international advisers

OMI launches ‘better products’ drive for international...

Old Mutual International (OMI) has launched a new initiative to provide international advisers and clients with access to structured products which must meet set criteria on transparency, simplicity and value, the Anglo-South African insurer said in a statement.

Published : 24, Nov 2016
HMRC rules out replacing 5% tax withdrawals on offshore bonds

HMRC rules out replacing 5% tax withdrawals on...

HM Revenue & Customs has confirmed that it will allow policyholders to correct ‘unfair’ tax bills resulting from ‘mistaken’ withdrawals of life policies, opting to keep the current 5% tax free allowance on offshore bonds.

Published : 23, Nov 2016
UAE insurance regulator to ban indemnity commissions

UAE insurance regulator to ban indemnity commissions...

Indemnity commissions are to be prohibited under new rules proposed by the UAE's Insurance Authority which regulates life insurance companies and family takaful businesses.

Published : 21, Nov 2016
OMI to close regular savings plans in three key regions

OMI to close regular savings plans in three key...

Old Mutual International has moved to reflect the changing trend towards more flexible products in the offshore market by closing two of its contractual savings plans in three key regions.

Published : 14, Nov 2016
HMRC decision on 5% life withdrawals ‘weeks away’

HMRC decision on 5% life withdrawals ‘weeks away’...

HM Revenue and Customs (HMRC) has confirmed that changes to the 5% tax free withdrawal from offshore bonds will not be announced until after the chancellor’s Autumn statement on 23 November.

Published : 4, Nov 2016
HMRC could rule out changes to 5% withdrawal on life bonds

HMRC could rule out changes to 5% withdrawal on...

The UK is expected to adopt an all or nothing approach on upcoming changes to the 5% tax free withdrawal from offshore bonds, Canada Life International’s technical manager Neil Jones has revealed.

Published : 1, Nov 2016
Unit-linked products under pressure in Asia

Unit-linked products under pressure in Asia

Singapore outpaced Hong Kong for sales of unit-linked investment and savings products in the first half of 2016. As the industry awaits third quarter data, Bryan Low of Provisca reflects on the trends seen in the figures so far.

Published : 28, Oct 2016
Simon Willoughby on turning Axa Isle of Man into Utmost WS

Simon Willoughby on turning Axa Isle of Man into...

After the acquisition of Axa Isle of Man paved the way for a headline-grabbing rebrand as Utmost Wealth Solutions, head of proposition Simon Willoughby talks exclusively to International Adviser about how the 25-year-old international life company was forced to go back to the drawing board and focus on what it does best.

Published : 24, Oct 2016
Industry changing rules on UAE funds get official green light

Industry changing rules on UAE funds get official...

New mutual fund charges and regulations that could have a dramatic effect on the number of funds offered on international platforms and within life insurance wrappers have become law in the United Arab Emirates.

Leading life execs predict growth markets of the future

Leading life execs predict growth markets of the...

Nearly 70% of international life company executives have named Latin America, Asia and the Middle East as the regions with the best opportunities for growth, according to a new poll conducted by International Adviser.

Published : 14, Sep 2016
Major Sth African insurer targets international life markets

Major Sth African insurer targets international...

Provisca, the international distribution business launched in August by Nigel Watson and Bryan Low, has signed its first partnership agreement, opening up the products of South Africa’s third largest listed insurer to international markets.

Published : 5, Sep 2016
Standard Life posts rise in offshore bonds, expands in India

Standard Life posts rise in offshore bonds, expands...

Standard Life has reported a small rise in assets held in offshore bonds on its wrap platform as part of its strong set of half year results for 2016, which also included details of the company's expansion into India’s private pension market.

Published : 9, Aug 2016
Isle of Man cuts probate charges on life assurance policies

Isle of Man cuts probate charges on life assurance...

The Isle of Man has slashed its probate charges for non-resident applications where the only asset is a life assurance policy issued by one of the island’s insurance companies.

Mauritius a leading offshore centre among Africa’s IFAs

Mauritius a leading offshore centre among Africa’s...

Mauritius is set to become the offshore centre of choice among financial advisers based in Southern Africa, a new survey has revealed.

Published : 1, Jul 2016
RL360° reports strong start to the year

RL360° reports strong start to the year

Isle of Man-based RL360° reported a spike in sales of up to 14% in the first four months of this year, building on the 21% hike in new business posted for 2015.

Published : 10, Jun 2016
Singapore to overtake London as second largest offshore hub

Singapore to overtake London as second largest...

Singapore is expected to overtake London as the world’s second largest offshore financial centre by 2020, a new report suggests.

Published : 9, Jun 2016
Axa Wealth posts strong Q1 growth

Axa Wealth posts strong Q1 growth

Axa Wealth, the UK life insurance and wealth management arm of France’s Axa Group, boosted funds under management by 9% in the first quarter this year, helped by a 30% rise in pension product sales following the government’s reforms to the sector.

Published : 17, May 2016
Axa Isle of Man sold, consolidator sets out new strategy

Axa Isle of Man sold, consolidator sets out new...

Axa has agreed to sell its Isle of Man-based operation to specialist M&A firm Life Company Consolidation Group (LCCG), which plans to continue "successful relationships" with Axa's offshore bond business in Dublin.

Published : 28, Apr 2016
HMRC to overhaul 5% tax free allowance on life bonds

HMRC to overhaul 5% tax free allowance on life...

The UK tax office plans to overhaul rules governing the part surrender and part assignment of life insurance policies to redress the unfair tax bills which some individuals face if they withdraw money from an investment bond in the wrong way.

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Gulf IFAs face ‘year of reckoning’ as clients turn away
Gulf IFAs face ‘year...

Financial advisers in the Middle East are finding clients...

Malta the ‘big winner’ of UK’s extensive Rops reforms
Malta the ‘big winner’...

Malta will be the "main winner" of HM Revenue & Customs'...

St James' Place doubles adviser numbers in Asia
St James' Place doubles...

St James’s Place has expanded its presence in Asia...

Director of collapsed IFA firm banned after £4m goes missing
Director of collapsed...

The director of a bankrupt UK-based IFA firm, who also...

South Africa considering tax changes to offshore pension funds
South Africa considering...

South African tax authorities may clamp down on the...

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