Offshore Bonds
Singapore to overtake London as second largest offshore hub
Singapore is expected to overtake London as the world’s second largest offshore financial centre by 2020, a new report suggests.
Axa Wealth posts strong Q1 growth
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.
The future of 5% bond withdrawals
New HM Revenue & Customs proposals being consulted on by the industry could fundamentally alter the way UK and offshore bonds work, says Rachael Griffin, financial planning expert at Old Mutual Wealth.
Axa Isle of Man sold, consolidator sets out new strategy
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.
Offshore Bonds | 25 Apr 16
HMRC to overhaul 5% tax free allowance on life bonds
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.