Companies
Demand for income security sees MetLife’s AUM hit £5bn
Strong demand from advisers for innovation in retirement and investment solutions has seen MetLife’s assets under management pass £5bn ($6.5bn, €5.8bn), the company said on Friday.
Legal & General sells Cofunds to Aegon
Legal & General Group has sold its investment platform Cofunds to Dutch insurer Aegon.
Guernsey’s Providence fund goes into administration
The Royal Court of Guernsey has appointed Deloitte as administration managers to Providence Investment Funds and its manager Providence Investment Management International Ltd (Pimil) after all of the directors of both companies resigned last week.
Korean insurer Hanwha to pump $134m into Indonesian expansion
Hanwha Life, South Korea’s second largest life insurer, is set to pump KRW150bn (£102m, €121m, $134m) into its Indonesian arm in a bid to expand its foothold in the country’s booming insurance sector.
Best Practice | 9 Aug 16
STM sees bumper July following Qrops fee waiver
Waiving the establishment fee for new qualifying recognised overseas pension schemes (Qrops) saw STM Group’s new business applications hit their highest level for 12 months in July.