Advice failings in regards to sales of geared TEPs
Story by: Gemma Westacott, FTAdviser
Two firms have been fined a total of £45,500 by the Financial Services Authority (FSA) for advice failings in regards to sales of geared traded endowment policies (TEPs).
Zurich UK has made some management changes to its life business to drive up growth for the company.
The US Federal Reserve has thrown a further chunk of funding to distressed insurer AIG, agreeing to provide up to $37.8bn (£21.8bn).
Research from Axa reveals half do not have life insurance, critical illness cover or income protection
German insurer Allianz is to invest $2.5bn (£1.43bn) in troubled US life and property insurer Hartford Financial Services Group.
Move will see joining of individual and corporate life and pensions businesses within the company
Patrick Gale has resigned as chief operating officer (COO) of Just Retirement, just three months after joining the specialist UK life assurance group.
New limits are raised to £800,000 and £500,000 for life insurance and critical illness respectively
Lloyds TSB is now in control of businesses which sold nealry £6bn in pensions and insurance products in the first half of this year.
Hires are on top of 26 appointments made since April
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