ISAs may be sold on doorstep
Article Abstract:
Life insurance aspects of individual savings accounts (ISAs) could be offered on a door-to-door basis under moves being considered by the UK government, it emerged in July 1998. Such moves emerged as Association of British Insurers (ABI) figures revealed that home service agents sold 3,473 individual life assurance policies in 1995, compared with 6,420 in <1985>. An increasing sophistication among investors coupled with the cost of retaining groups of sales personnel has led to large parts of the life assurance sector withdraw from doorstep sales. ISAs, which will succeed Tessa savings accounts and personal equity plans (PEPs), are scheduled to be offered from April 1999.
Comment:
UK: Government considers offering life insurance aspects of individual savings accounts on a door-to-door basis
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 1998
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UK: R&SA TO REASSESS LIFE OPERATIONS AT END-2001
Article Abstract:
UK-based Royal & Sun Alliance (R&SA) is to assess the future of its life activities at the end of 2001. The business division reported a loss of GBu 22mn for the six months to June 2001, while overall the company reported a 17% rise in operating profit to GBu 375mn, with a 52% increase in general insurance to GBu 196mn. Industry rumours suggest the life operation may be sold off.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: FSA MOVES TO BOOST LIFE OFFICE RESERVES
Article Abstract:
The Financial Services Authority (FSA) is compelling insurance companies to boost life office reserves by amending the Insurance Companies Act 1994. Reserves are expected to rise by an average of around 10%, with companies' current liabilities standing at GBu 150bn and the industry forecasting a GBu 15bn deficit in its accounts.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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