STM Group, a specialist financial services group, said a focus on building up its international pensions and life assurance products business helped it post a near 60% rise in net profit for the year to 31 December 2015.
Isle of Man-based pensions provider Boal & Co is set to build on an expansion of its international Qrops business with the promotion of Danny Winrow to the management team following the death of its founder and chairman Gary Boal.
Momentum Pensions is extending its product range to include lower-cost solutions for international clients to meet a rise in demand from investors with minimum funds of £20,000.
London & Colonial has added Whitechurch Securities to its panel of approved discretionary fund managers for its low-cost Qrop product, the Multi-Platform International Open Pension.
Sovereign Pension Service in Malta has announced that it will offer flexi-access drawdown under its local Qrops scheme with immediate effect.
The Qrops Bureau has brought on board a fellow of the Institute of Actuaries to bolster the firm’s expertise as it grows its international pensions advisory business.
The decision by HM Revenue & Customs (HMRC) to drop thousands of Qrops from its list of recognised overseas pension schemes was one of the biggest stories of 2015.
The Federation of European Independent Financial Advisers (FEIFA) has formed a partnership with Malta-based retirement scheme administrator Harbour Pensions.
The soon-to-be amalgamated Guernsey operations of Generali Worldwide and Generali International will focus on only eight licenced markets from 1 January next year.
Four executive directors of Guernsey financial services and former QROPS provider Confiance Limited have been fined, and in three cases also banned from performing key functions for five years.
Guernsey’s Government has passed legislation allowing flexi-drawdown for its international pension plans, including delisted QROPS funds.
Guernsey States looks set to introduce legislation allowing flexi-drawdown to come into force on 2 October, with implications for the £2bn worth of delisted QROPS on the island.
