News
Allianz to sell €4.5bn cache of Italian life policies
Insurance giant Allianz is looking to sell a portfolio of life insurance policies in Italy worth €4.5bn ($5.09bn, £3.6bn) as it struggles to cope with rock-bottom interest rates, Reuters has reported.
OMW caps exit fees for customers aged 55+
Old Mutual Wealth is reducing its exit fees on traditional UK pension contracts, putting a 5% cap in place for all customers aged 55 or older.
MetLife wins ‘too big to fail’ US court bid
US-based life insurance company MetLife saw its share price rise 5% after a judge ruled that the government’s decision to label it a systemically important financial institution (SIFI) be withdrawn.
New S. Korea IFA model a ‘turning point in rebuilding trust’
Barings’ chief executive in South Korea, Thae Khwarg, has said that he ‘welcomes’ proposed changes announced by the country’s Financial Services Commission (FSC) which would allow IFAs to provide independent advice while adopting a new fee-based only regime similar to the UK.
Tax & Regulation | news 31 Mar 16
Financial advice industry needs to ‘come clean’ on exit fees
UK chancellor George Osborne’s recent announcement to cap investment and pension exit fees is a big step in the right direction towards tackling punitive investment and pension exit fees, says David Pugh, director of The Fry Group, Singapore.