Hansard Global’s recently announced Bahamas operation will be used to support its “rapidly growing” Latin American client base, according to the specialist long-term savings providers latest results.
Senior figures in the Isle of Man life insurance sector have criticised Hansard’s decision to set up a company in the Bahamas, which the insurer admits was partly driven by the looming commission disclosure rules.
Hansard’s strategic move to set up a licenced company in the Bahamas was partly driven by the Isle of Man’s sweeping Conduct of Business Code rules which go live in January 2019, the London Stock Exchange-listed company chief executive Gordon Marr has revealed.
Hansard’s UAE strategy is starting to pay off and is providing the template for other regions, chief executive Gordon Marr told International Adviser.
Hansard Global is still recovering from losing a major distribution partner in the Middle East, as it reports low-level growth in new business premiums for the second half of 2017.
Hansard Global has reported a drop in profits and a £1.1m ($1.4m, €1.2m) provision taken against ‘doubtful broker balances’ for the year ending June 2017.
Isle of Man-based savings provider Hansard International has teamed up with global asset manager Fidelity International to launch a tool to help financial advisers identify the risk profile of retail clients.
Specialist long-term savings provider Hansard Global has continued to grow on a year-on-year basis despite a halt in new business expansion from the Middle East and Africa region in the fourth quarter.
Brooks Macdonald’s international division has linked up with Hansard International to offer advisers the opportunity to access the Jersey-based wealth and asset manager’s full discretionary fund management offering.
Hansard International launched its new strategic alliance with UAE-based Union Insurance Co on Thursday, which includes the provision of two new savings and investment products under the brand name ‘Infinity’.
Hansard Global’s Middle East and Africa business continued to drive growth in the second half of 2016, which was also boosted by Latin American and regular premiums.
Hansard International plans to launch two new products in Dubai as part of its recently announced alliance with the UAE-based general insurer, Union Insurance.
