Pru overhauls pay structure as part of mis-selling fallout

Article Abstract:

Leading UK-based insurance group, Prudential, is in talks with officials of the Manufacturing, Science & Finance (MSF) union over fundamental changes to its operations. Group chief executive, Sir Peter Davis, says that moves which would result in improved pay and renewal commission for employees and stem from the controversy over wrongly sold pensions. The changes, which would also result in a reduction in initial commission, would cover the 4,500 sales staff at Prudential, which is said to have the most review cases relating to the mis-sales scandal.

Comment:

Talks w/ Mfg, Science & Finance union officials to improve pay & renew employees commission & stem on pensions controversy

Personnel administration, Prudential Assurance Company Ltd.

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L&G aims to double direct salesforce by 2000

Article Abstract:

With direct sales now accounting for 22% of overall sales, Legal & General (L&G) plans to increase its direct salesforce to 750 from 300 at present by 2000at its four call centres based in Cardiff, Birmingham, Kingswood, Surrey and Hove. However, the company stresses that the proposed expansion will not affect its commitment to the IFA sector, where sales now make up 50% of L&G's total sales. L&G is also hoping to increase the amount of business carried out on-line.

Comment:

Plans to increase its direct sales force to 750 from 300 at present by 2000 at its four call centers

Marketing procedures, Legal and General Group PLC

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