What do the IoM disclosure exemptions mean for the industry?
The Isle of Man Financial Services Authority responds to key questions
The Isle of Man Financial Services Authority responds to key questions
With the Budget only a few days away, industry experts share their views on what to expect
The recent trend of closed book market consolidators buying up international life company books of business has distracted its competitors and can be an issue for adviser firms, the managing director of Canada Life International, Sean Christian, has warned.
The portfolio bonds from Canada Life International (CLI) have halved the minimum single and additional investment amounts and increased the maximum age of the youngest life assured by 10 years.
Sales of offshore bonds rose by 60% in the first half of 2017, with new business through Canada Life International’s Isle of Man and Dublin-based offshore businesses hitting £566m ($736m, €626m).
In the latest in a series of viewpoints from prominent life industry figures, Sean Christian, executive director – offshore of Canada Life International, sets out what it takes to thrive as an international life office.
New business sales of UK-distributed offshore bonds fell by 10.7% last year but were contracting at a slower pace than in recent years, while the onshore version saw sales pick up in 2014 for the first time since the financial crisis.
Sean Christian, managing director of Canada Life International, explains how the company launched its Dublin-based solution to maintain a clear strategic focus on the core UK market.