HMRC data shows £7.6bn withdrawn since UK pension reforms
Nearly £7.6bn ($9.2bn, €8.5bn) has been paid out of UK pensions since reforms came into effect in April last year, according to the latest figures published by HM Revenue & Customs (HMRC).
Nearly £7.6bn ($9.2bn, €8.5bn) has been paid out of UK pensions since reforms came into effect in April last year, according to the latest figures published by HM Revenue & Customs (HMRC).
Aegon has agreed to sell its Ukrainian life business to local insurance firm TAS Group, a move that will see the Dutch insurer exit the market after less than four years.
Axa Asia has named a chief executive of Life & Savings and Distribution, while Legal & General have added to its investment and pension risk transfer businesses with two appointments. Aegon Asset Management has bolstered its American real estate advice business with three people moves.
Aviva Investors has added four senior people to its client solutions team, while Manulife has named its new chief operating officer. Aegon’s chief financial officer is to depart, with Axa Investment Managers boosting its management team.
Aegon has added a range of portfolios from discretionary fund management (DFM) firm PortfolioMetrix to its platform following demand from advisers.
Changes abound in Singapore with Old Mutual Global Investors creating a new managing director role, Eastspring Investments naming a new chief executive, and HSBC Bank appointing a head of retail banking and wealth management.
Legal & General Group has sold its investment platform Cofunds to Dutch insurer Aegon.
The UK arm of Dutch insurer Aegon is to stop writing new annuities from the fourth quarter of this year, and has agreed to pass clients seeking the product onto Legal & General.
Aegon UK’s chief financial officer is to depart, while both the UK and Australian governments have announced further political manoeuvring following the Brexit referendum and Australian national elections.
Old Mutual Global Investors has named a new head of global bonds, while Creechuch Capital has lured its new managing director from Canada Life International and Aegon UK has created the new role of protection director.
With the referendum on whether or not the UK will leave the European Union only days away, Aegon has addressed some of the concerns about how a vote to leave could impact pensions.
Insurers are failing to adapt to changing customer needs and technology, instead focusing more on complying with new regulations, a new report by KPMG has found.