Insurance News

UK: Norwich Union increases cash release terms on home reversion plan
Norwich Union is improving the cash release terms on its Home Reversion Plan with immediate effect.
This review of the terms will benefit the majority of people taking out the Home Reversion Plan and could mean up to £2,000 more compared against old rates.
Examples:
A 75 year […]

UK: ‘Wossy’s home is where the happiness is’
The ‘Quote Me Happy’ insurance people Norwich Union have come up with some amazing facts regarding the way we feel about the home lives of the rich and famous. Asked which celebrities we thought had the happiest homes, two TV presenters were clear winners: Jamie Oliver with over […]

Morley boosts European property team with two new fund managers
27 July 2005
Morley Fund Management, Europe’s largest property fund manager*, has made two appointments to its continental European property team. Gilles Chow and Gil Bar both join as fund managers, reporting to Ben Stirling.
Gilles Chow joins from Macquarie Global Property Advisers. He has been focused on […]

UK: Norwich Union reduces interest rates and increases commission on Lifetime mortgages
Norwich Union is reducing the interest rates on its Fixed Rate Lifetime Mortgage from 25 July 2005.
The fixed interest rate for lifetime mortgages introduced by intermediaries will be 6.30% (The overall cost for comparison is 6.8% APR).*
Norwich Union will also be increasing commission […]

UK: FSA - brokers urged to verify compliance
Norwich Union, working with PWC, has provided an online checklist to enable brokers to assess whether they are fully compliant with the FSA, helping to prevent them falling foul of visits from the FSA.
Site visits and contact with brokers by Norwich Union have revealed there are still […]

UK: Norwich Union extends contract with Asda
Norwich Union Insurance has signed a new five-year contract with ASDA for motor, travel and household insurance, extending their working relationship for an additional three years through to December 2009.
The new contract will see a renewed marketing push promoting ASDA’s range of insurance products with Norwich Union Insurance […]

CITIC Prudential becomes the leading foreign insurance company in China in terms of city licences
Prudential’s life insurance joint venture in China, CITIC Prudential Life, has been awarded a further two city licences, taking its total to ten and making it the largest foreign life insurer in the country in terms of licences.
These new licences will […]

UK: New commission rates on individual pensions
Following the introduction of modified stakeholder pensions in April, Norwich Union has carried out a review of its pricing and commission rates on individual pensions. As a result commission rates are to be increased from 18 July 2005. An increase in the price cap on the modified stakeholder pension […]