Life
FCA fines Aviva £8.2m over wrap platform failings
Aviva has been fined £8.2m ($10.4m, €9.3m) by the Financial Conduct Authority (FCA) for failing to monitor outsourced client assets on its wrap platform.
Australia to allow 60% commissions on life insurance products
Australia’s government has confirmed it will allow life insurance brokers to pocket commissions as high as 60%, after resisting calls for them to be banned altogether.
Best Practice | 28 Sep 16
Product Spotlight: review of Hansard Vantage Platinum II
In the second of a series of three independent reviews of international life products, Brian O’Neill, consultant at Isle of Man-based actuary and consultancy firm Boal & Co, puts the spotlight on Hansard’s regular premium product called Vantage Platinum II.
Deutsche Bank sells Abbey Life to Phoenix Group
Deutsche Bank has confirmed that it is to sell its Abbey Life business to closed book life and pension provider Phoenix Life Holdings, for £935m (€1.08bn, $1.21bn).
Best Practice | 27 Sep 16
Five views on how int’l life offices can grow market share
How will international life companies retain and build on their market share of the financial services industry in the years ahead?