The customer service business finance insurance
at Lloyds TSB Insurance will bring the total number of staff at the firm’s Tredegar Park base to nearly 900.

Recruitment is set to take place over the next four months, for roles tourist insurance finance zurich
claims administrators and team leaders.

Newport Association of finance and insurance professional
Ken Estate finance hill in insurance investment irwin mcgraw real series described it as “excellent news”.

David Stoddard, head of customer service at the firm, said the firm, based in Tredegar Park, was seeking to become one of the leading insurers in Europe.

Steve Pantak, from the finance sector trade union UNIFI, added: “It’s good to see the company reaffirm its finance and insurance school
to the local south Wales economy,” he said.

]]> http://autofinanceinsurance.fastbloghost.net/2008/05/27/news-insurance-firm-creates-200-jobs-2/feed/ http://autofinanceinsurance.fastbloghost.net/2008/05/24/news-financial-sector-see-jobs-growth-2/ http://autofinanceinsurance.fastbloghost.net/2008/05/24/news-financial-sector-see-jobs-growth-2/#comments Sat, 24 May 2008 15:56:09 +0000 grandpahelmholtz http://autofinanceinsurance.fastbloghost.net/2008/05/24/news-financial-sector-see-jobs-growth-2/ Banking career career finance in insurance opportunity opportunity
in financial services has grown faster in Scotland than anywhere else in the UK, according to new research by the Bank of Scotland.

The study shows there are 20,000 more finance jobs than five years ago. London and the south east of England lost 21,000 over the same period.

Jobs in life insurance and pension funds in Scotland fell by 4,000, but new banking jobs rose by 24,000.

Business and financial services employ 107,000 Scots or 4.7% of the workforce.

Average wage

Scotland’s two biggest companies the Royal Bank of Scotland and the Bank of Scotland employ about 35,000 people between them.

The report said that the average full-time financial sector worker in the UK earns, on average, 699 per week.

This is the most of any major industry group and almost 200 more than the average UK wage.

Across the UK there are 30 local authority areas where more than 25% of the workforce are employed in the broader business and finance sector.

Card estate estate finance hill in insurance irwin mcgraw powerweb principle real real series
of these are in London and the south east of England, four are in the east of England and one is in Scotland.

More recently significant growth in banking jobs in Scotland has more than offset job losses in insurance and pension funds Tim Crawford Bank of Scotland

The study said that 26% of people living in Edinburgh work in business and financial services.

The next highest local authority areas were East Lothian and East Finance insurance
(19%), followed by Car insurance finance company
(18%) and West Lothian (17%). Glasgow was 14%.

Tim Crawford, group economist at Bank of Scotland, said: “Scotland has delivered the strongest percentage growth in financial services employment in Great Britain on a five, 10 and 20 year time frame.

“Good pay levels and the sector’s ability to generate new jobs in ancillary areas such as IT and the law have made a real insurance finance and investment
to Scotland.

“More recently significant growth in banking jobs in Scotland has more than offset job losses in insurance and pension funds.”

]]> http://autofinanceinsurance.fastbloghost.net/2008/05/24/news-financial-sector-see-jobs-growth-2/feed/ http://autofinanceinsurance.fastbloghost.net/2008/05/23/news-finding-fair-financial-advice/ http://autofinanceinsurance.fastbloghost.net/2008/05/23/news-finding-fair-financial-advice/#comments Fri, 23 May 2008 15:38:55 +0000 grandpahelmholtz http://autofinanceinsurance.fastbloghost.net/2008/05/23/news-finding-fair-financial-advice/

Thinking of giving your finances a new year makeover but don’t know where to start? An industry expert explains what types of financial advice are on offer and how much it costs. There are a number of reasons why people first turn to a financial adviser for help. You may be looking for the best way to save for retirement, a mortgage, advice on how to invest for the future or protect you and your family with a life insurance policy. Perhaps you are just looking to make the most of the 5 April tax deadline. Whatever your motivation for seeking it, getting unbiased financial advice is not as simple as it sounds; being forewarned is forearmed. Different advisers Multi-tied agents are allowed to recommend the products of a selection of providers, rather than just one Until recently, there were two main ways of seeking financial advice for products such as life assurance, pensions and investments: either through an independent financial adviser (IFA) or a tied agent. An IFA is required to act on your behalf, researching the whole market to find you the most suitable products. Tied agents can only advise on the products provided by their employer, usually a bank, building society or insurer. However, the Financial Services Authority (FSA), recently decided that there should be a third way to obtain financial advice; through a multi-tied agent. Multi-tied agents are allowed to recommend the products of a selection of providers, rather than just one. They can choose how many companies’ products they offer advice on, based on commercial arrangements with those companies. Multi-tied advice was introduced to increase choice for people who would otherwise have taken tied advice. All advisers are required by the new rules to produce a key facts document up-front, explaining what type of advice they offer. You should check out the breadth of products and providers on offer and decide if this is good enough for you, or whether independent advice across the whole market of financial products would suit you best. What to look for Whether you choose an IFA or a tied or multi-tied adviser, you next have to ensure that they have the right knowledge and experience. Personal impressions are important when selecting the right adviser, as are recommendations from friends and colleagues Ask how long the adviser and firm have been practicing, and check their credentials by asking them what qualifications they have. All advisers have to pass the Financial Planning Art capital finance finance insurance managing risk structured wiley (FPC) before they are authorised and regulated by the FSA to give advice. However, many IFAs have chosen to take further exams, either in general financial planning or specific product areas, to improve and demonstrate their professionalism to clients. Some people will feel more at ease with a female adviser, or one that specialises in advice on particular product areas like retirement planning or mortgages. You can find IFAs that match your preferred criteria, quickly and without pressure, online. However, like choosing an accountant or dentist, you are looking for someone that you can forge a trusting relationship with. Personal impressions are important when selecting the right adviser, as are recommendations from friends and colleagues. Advice costs Once you have made a choice, your first meeting will be a getting to know you session, where you will be asked about your priorities and plans. As part of the recent rule changes, all types of financial adviser are required to give you a second key facts document containing a “menu” of charges at the start of this first meeting, to enable you to compare costs, see what you are getting for your money and shop around. An IFA must offer you the option of paying by a fee, as well as the option of paying by commission, ultimately added to the cost of any financial product bought from the adviser, or a combination of the two. Tied and multi-tied agents don’t have to offer you this choice, but some may. In the past the majority of consumers tended to opt to pay for their advice by commission. In the future there may well be a shift towards more people paying fees, as the cost and value of advice becomes clearer through these new disclosure documents. Fees for advice vary widely, but are typically between 50 and 200 an hour. Do not be afraid to negotiate on costs with your adviser; he or she may well be prepared to reduce their fee or rebate more commission, especially if they want you as a long-term customer. Financial planning and adapting to changing insurance premium finance is a lifelong commitment, so taking a little time now to find the most suitable type of advice from someone you are insurance finance and investment with could save you a great deal of money in future. The opinions expressed are those of the author and are not held by the BBC unless specifically stated. The material is for general information only and does not constitute investment, tax, legal or other form of advice. You should not rely on this information to make (or refrain from making) any decisions. Always obtain independent, professional advice for your own particular situation.

Reports have suggested the group is in danger of missing new minimum solvency levels when new essential estate finance hill in insurance investment irwin mcgraw real series
rules come into effect later this year.

The Financial Services Authority (FSA) said there had been “a high level of essential estate finance hill in insurance investment irwin mcgraw real series
” between them.

Standard Life insisted it was not in any financial difficulty.

A export finance and insurance
for the firm, which reported a 22% fall in new worldwide business sales in 2003, said the talks were merely advisory.

More clarity

“Our financial strength is displayed in our company’s act and statutory accounts,” he said.

“And we remain committed to retaining a strong capital base.”

The spokesman added: “It is completely wrong to suggest Standard Life is in financial difficulty.”

The new accountancy rules are being banking career career finance in insurance opportunity opportunity
by the FSA to ensure that investors have a clearer picture of the financial strength of the insurers.

They were department of insurance and finance in the aftermath of the near collapse of insurer Equitable Life in 2000.

Industry wide

Merrill Lynch insurance analyst David Nisbet said he did not believe the larger insurers would be affected by the forthcoming new accountancy rules.

“The large listed companies - Aviva, Legal & General and Prudential - are stronger financially than Standard Life in our view and we do not anticipate that they will have problems with the new regulations,” he said.

In addition to speculation regarding its balance sheet, Standard Life has also recently faced pressure from some policy holders for it to demutualise and become a public company, thus entitling them to a windfall payment.

The company has fought all such moves.

]]> http://autofinanceinsurance.fastbloghost.net/2008/05/21/news-standard-life-in-regulator-talks/feed/ http://autofinanceinsurance.fastbloghost.net/2008/05/20/news-financial-sector-see-jobs-growth/ http://autofinanceinsurance.fastbloghost.net/2008/05/20/news-financial-sector-see-jobs-growth/#comments Tue, 20 May 2008 00:10:19 +0000 grandpahelmholtz http://autofinanceinsurance.fastbloghost.net/2008/05/20/news-financial-sector-see-jobs-growth/ Employment in financial services has grown faster in Scotland than anywhere else in the UK, according to new research by the Bank of Scotland.

The study shows there are 20,000 more finance jobs than five years ago. London and the south east of England lost 21,000 over the same period.

Jobs in life insurance and pension funds in Scotland fell by 4,000, but new banking jobs rose by 24,000.

Business and financial services employ 107,000 Scots or 4.7% of the workforce.

Average wage

Scotland’s two biggest companies the Royal Bank of Scotland and the Bank of Scotland employ about 35,000 people between them.

The report said that the average full-time financial sector worker in the UK earns, on average, 699 per week.

This is the most of any major industry group and almost 200 more than the average UK wage.

Across the UK there are 30 local est finance financial hill in insurance international irwin management mcgraw real series areas where more than 25% of the workforce are employed in the broader business and finance sector.

Twenty-five of these are in London and the south east of England, four are in the east of England and one is in Scotland.

More recently significant growth in banking jobs in Scotland has more than offset job losses in insurance and pension funds Tim Crawford Bank of Scotland

The study said that 26% of people living in Edinburgh work in business and financial services.

The next highest local authority areas were East Lothian and East Dunbartonshire (19%), followed by Corporate estate finance finance hill in insurance irwin mcgraw principle real series (18%) and West Lothian (17%). Glasgow was 14%.

Tim Crawford, group zuerich insurance finance at Bank of Scotland, said: “Scotland has delivered the strongest percentage growth in financial services employment in Great Britain on a five, 10 and 20 year time frame.

“Good pay levels and the sector’s ability to generate new jobs in ancillary areas such as IT and the law have made a real difference to Scotland.

“More recently significant growth in banking jobs in Scotland has more than offset job losses in insurance and pension funds.”

]]> http://autofinanceinsurance.fastbloghost.net/2008/05/20/news-financial-sector-see-jobs-growth/feed/ http://autofinanceinsurance.fastbloghost.net/2008/05/18/news-good-news-for-abbey-investors/ http://autofinanceinsurance.fastbloghost.net/2008/05/18/news-good-news-for-abbey-investors/#comments Sun, 18 May 2008 21:04:03 +0000 grandpahelmholtz http://autofinanceinsurance.fastbloghost.net/2008/05/18/news-good-news-for-abbey-investors/

Resolution is going to pay 3.6bn for the privilege of collecting and investing their premiums, along with the chance to sell more policies in the coming years. Around 2.7m current policies with a collective value of 24bn are being taken over by Resolution. Among them are policies that have been sold in the names of Scottish Provident and Scottish Mutual, which the Abbey took over in 2001 and 2002. Resolution says the much enlarged company is “committed to treating its customers fairly and will continue to take the positive steps that Resolution has been taking to improve the provision of information to its finance and insurance manager .” Tom McPhail of stockbrokers Hargreaves Lansdown says this is not an idle promise. He has been impressed with Resolution’s attitude to transparency and disclosure since it took over the life insurance fund of the Royal & Sun Alliance group in 2004. “They’ve gone out of their way to export finance and insurance on asset mix and bonus rates,” he said. “I’ve been impressed with the handling of the R&SA so this should be quite good news.” Who are they? If anyone with an Abbey policy has not yet heard of Resolution, that is probably because it is a very new company. It was set up in 2004 to buy the closed life funds of other insurance companies and make a profit while gradually running them down as policies matured. Many insurers have found the home personal finance insurance business rather difficult in the last few years. They were caught out by the huge stock market slump at the start of this decade, and more onerous regulatory and investment requirements. They have also seen new business dry up, mainly thanks to the finance and insurance manager avoidance of endowment mortgage policies in the wake of the mis-selling of this particular type of investment. One wag has dubbed Resolution the Womble of the insurance industry, going around buying up other people’s rubbish. But by managing the money with the advantage of economies of scale, Resolution hopes to prosper. So far it is solvent, makes a profit and conforms to all the regulatory requirements of the Financial Services Authority. As the FSA pointed out to consumers when Resolution took over the R&SA funds, the change should make no difference to the outcome of individual policies, nor should it affect pension pay-outs. Investment returns Thanks to taking over or merging with other companies, such as the Britannic group last year, Resolution has become very big and will soon have seven million customers and 63bn in assets to manage. Now, with the Abbey deal, it will also sell new polices, either through the Abbey branches or through independent financial advisers. In time, it is possible that investment returns may improve for Abbey policy holders. Currently the Abbey funds have only 38% of their money in shares, with the rest invested in bonds or held in cash. That is a rather cautious portfolio by conventional standards. As a result, Tom McPhail describes returns on the Abbey’s unit-linked life fund as “pretty awful, below average.” He is not expecting any short term change, but reckons that Abbey investors could benefit if Resolution adopts a more adventurous investment policy in the longer term. “If they liberate economies of scale it may well put them in a position to improve the asset mix of the fund - so things could improve for investors” he said. Given the difficult recent history of the UK insurance industry, that would come as a relief to many policy-holders.

]]> http://autofinanceinsurance.fastbloghost.net/2008/05/18/news-good-news-for-abbey-investors/feed/ http://autofinanceinsurance.fastbloghost.net/2008/05/17/news-new-regime-for-financial-advice/ http://autofinanceinsurance.fastbloghost.net/2008/05/17/news-new-regime-for-financial-advice/#comments Sat, 17 May 2008 13:29:19 +0000 grandpahelmholtz http://autofinanceinsurance.fastbloghost.net/2008/05/17/news-new-regime-for-financial-advice/

A major shake-up of how financial products are sold, aimed at giving consumers greater choice, comes into force on Wednesday. The changes mean financial advisers will no longer be restricted to offering only the products of the bank or insurance company that employs them. Instead, all advisers will be able to offer pensions, insurance and investments from different providers. Consumers will also get a clear choice between paying by fees or commission. Crystal clear The current system, known as “finance insurance statistical tool “, which has been in place since the late 1980s, was designed to make a clear insurance agent finance career change between independent financial advisers (IFAs), who were not tied to any firm, and financial advisers, who were employed by a bank or insurer. Essentially consumers will have a far greater choice Dan Waters, Financial Services Authority Under polarisation, only IFAs were free to offer clients products from any insurer or bank. Financial advisers had to stick to selling the products offered by their employers. As a result, people who went to see financial advisers may not have been sold the very best product in the asset company derivative finance from in insurance insurance liability management underwriting wiley , just the best that the adviser’s employer had to offer. Scrapped Critics of polarisation said that consumers were unaware of the difference between what IFAs and other financial advisers could offer. The Financial Services Authority (FSA), the City regulator, agreed. Last year it announced that polarisation would be scrapped on 1 December. “The majority of consumers use tied advisers, from branches of high street banks and building societies, and they can now be offered a wider range of products from a variety of providers,” said Dan Waters, FSA director of retail policy. “Essentially consumers will have a far greater choice.” Menu Another key change being car insurance finance company is that financial advisers will have to set out how much the advice they give is likely to cost. They will do this through a Key Facts Car insurance finance (KFI) sheet handed to the client before any investment or insurance product is sold. Advisers can continue to accept commissions under the new regime. People should be in a better position to demand more of their adviser and be able to judge what advice presents genuine value for money David Elms, Independent Financial Advice Promotion But to avoid the risk of bias, they must also offer consumers the choice of paying a fee for the advice they receive. This is known as the “menu” approach, and will also require the adviser to tell the customer which firms he or she acts for. “This will leave consumers in no doubt that advice costs money whether in the form of fees or commission,” David Elms, chief executive of Independent Financial Advice Promotion, told BBC News. “People should be in a better position to demand more of their adviser and be able to judge what advice presents genuine value for money.” As a result of the introduction of KFIs, Mr Elms predicts that the numbers of people choosing to pay a fee rise sharply. “At present, one in 10 financial consumers choose fees over commission, but within five years that could rise to one in four,” he said.