Around 70% of Singaporeans are underinsured, says Prudential
Around seven in 10 Singaporeans have not increased their life insurance cover in line with their rising income levels, leaving them at risk of being under-insured in the event of a crises, insurer Prudential has warned.
People Moves | 23 Aug 16
PEOPLE MOVES: Zurich, EFG, Rathbones
Zurich names a new head for its global divison in Hong Kong, while Switzerland’s EFG appoints a chief executive in Singapore. The Guernsey regulator hires a new lawyer to its decision’s panel, and BMO expands its European sales team.
Emerging Markets | 23 Aug 16
BlackRock goes overweight EM
US fund management giant BlackRock has joined the ongoing shift into emerging markets by upgrading the asset class to overweight in its asset allocation outlook.
Tax & Regulation | 23 Aug 16
UK ombudsman pledges to tackle scammers of £755m fraud
The UK’s Financial Ombudsman Service (Fos) has set out the scale of fraud carried out in the country’s financial services sector, pledging to work with other regulatory bodies such as the Financial Conduct Authority to crackdown on scams.
United Kingdom | 23 Aug 16
Robo-advisers will take years to be profitable, warns report
Robo-advisers will have to wait up to a decade to make a profit from their clients, according to a new report into the sector.