UK: FSA RULES THREATEN LIFE INDUSTRY

Article Abstract:

The UK life insurance industry is under threat of a "financial black hole" of GBu 15bn warn experts. New changes to the Insurance Companies Act 1994 made in May 2000 and recommended by the FSA, require life offices to increase their reserves. The new rules could force life companies to cut bonuses and withdraw surrender guarantees and will severely affect the with profits sector.

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UK: CONSUMERS' ASSOCIATION QUESTIONS BOND INDUSTRY

Article Abstract:

The Consumers' Association (CA) has asked the Treasury to investigate providers of with profits bonds, following recent moves by Equitable Life and Axa. The CA said that the with profits industry suffered from secrecy, corporate unaccountability and regulatory failures. It also said that the industry favoured the providers and failed to adequately protect consumers.

CONSUMERS' ASSOCIATION

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UK: BROKERS FORECAST TO LOSE MARKET SHARE

Article Abstract:

Brokers are forecast to lose face-to-face financial sales market share to digital TV, Internet and direct marketing channels by 2010, falling to 47.1%, from 53.1% in 2000, according to a Life Insurance Research Association report. The share held by tied sales forces is also expected to contract to 16.8%, from 28.3%.

Direct Marketing Services, Direct Mail Advertising, Direct mail advertising services, Direct marketing

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