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Pure protection sales to be supported by increased accreditation

Wednesday, June 30, 2010

The FSA has just published a feedback statement in response to calls for pure protection sales to be subject to enhanced accreditation schemes. The statement forms part of the FSA’s overall paper focusing upon professionalism and the Retail Distribution Review. The FSA published a consultation paper on RDR last year, requesting people’s views on whether there was a need for more professional standards when advisers undertook the sale of pure protection.

The FSA’s request resulted in 53 ... Read full article

Category: Life Insurance

Taikang Life in final stages of negotiation with Goldman Sachs

Tuesday, June 29, 2010

Chen Dongshen, CEO of Chinese insurance firm Taikang Life, has issued a statement to say that his organisation is in the final stages of negotiation with Goldman Sachs, with a view to selling Axa’s stake in the business.

Axa, who are based in France, has been forced to make the sale as a result of a conflict of interest with another Chinese company. The insurance giants inherited Taikang Life in 2006, as a result of their acquisition of Winterthur Life. However, as Axa has a 51% stake i ... Read full article

Category: Life Insurance
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