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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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 is set to become the offshore centre of choice among financial advisers based in Southern Africa, a new survey has revealed.
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.
Singapore is expected to overtake London as the world’s second largest offshore financial centre by 2020, a new report suggests.
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.
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.
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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The director of a bankrupt UK-based IFA firm, who also...
South African tax authorities may clamp down on the...