Pension transfers hit record £10.6bn in first quarter
The belief that UK pension transfers peaked in 2017 has been proven wrong as figures from the UK’s Office for National Statistics (ONS) show £10.6bn flowed out of defined benefit schemes in the first quarter of 2018.
Canada Life UK sells £2.7bn book to Scottish Friendly
Consolidators continue to snap up legacy books of business with Canada Life UK announcing the sale of 155,000 longstanding policies to Scottish Friendly.
Investment | 21 Jun 18
Zurich enters passive market with Middle East adviser offering
Zurich International Life has launched a set of low cost passive funds that will offer financial advisers a simple investment solution for their customers in the Middle East.
Panama Papers law firm unable to identify 75% of its clients
A leak of 1.2 million new documents shows that Mossack Fonseca, the law firm at the centre of the Panama Papers scandal, could not identify the owners of up to three quarters of the companies it administered.
Investment | 21 Jun 18
Vanguard and Blackrock exposed to US child detention camps
Blackrock has blamed index tracking products for its large stake in a contractor involved in child detention centres in the US, while Vanguard, along with several active investors, has been silent on its exposure to the political controversy.