The amount of money savers are taking out of their pensions has more than doubled in the three months to 30 June compared to the first quarter of the year, latest figures published by the UK’s tax office show.
Canada-based financial services group Manulife has agreed to make Hong Kong insurer QBE its exclusive supplier of general insurance products in the special administrative region.
Research by the UK’s Association of Investment Companies (AIC) has found a correlation between fund manager longevity and fund performance.
Malta’s government has amended its income tax rules to make clear that savers can still take a 30% pension commencement lump sum (PCLS) when they transfer their pension pot into a Qrops registered on the island, after “significant lobbying” efforts by specialist provider Momentum Pensions.
UK outsourcing firm Capita has paid £18.5m (€22.07m, $24.2m) to settle a claim brought against it by the liquidator of the Connaught property fund fraud in which investors lost up to £100m.
The average sum assured for lesbian, gay, bisexual and transgender (LGBT) people in the UK fell by more than £8,000, according to gay insurance adviser Compass Mortgage and Insurance Services.
St James’s Place has increased its interim dividend by 15% despite reporting a drop in profit for the second quarter.
Preliminary UK growth figures for the second quarter have raised hopes slightly that the British economy was on a better footing heading into the EU Brexit referendum than had been expected.
UK wealth manager Brewin Dolphin has reported a 3.5% increase in discretionary funds under management to £26.8bn ($35bn, €32bn) during its third quarter.
A deal to merge the fund management businesses of Italy’s UniCredit and Spain’s Santander has officially been called off.
The UK’s decision to quit the European Union could lead to a raid on pensions tax relief, experts in the industry have warned.
The Treasury Committee is recommending that part of the UK’s Financial Conduct Authority (FCA) be spun out to form a new financial regulation enforcement body.
