New chairman for Manx Insurance Association (MIA) and latest acquisition for Vistra in Luxembourg.
David Kneeshaw appointed Chariman of MIA
David Kneeshaw, Chief Executive of Royal London 360°, has been appointed Chairman of the Manx Insurance Association (MIA). Kneeshaw takes over from outgoing chairman, Dean Waddingham who was previously Managing Director of CMI, prior to its closure in February 2012. Waddingham is now with NFU Mutual based in the UK.
Commenting on his appointment, Kneeshaw said: “In a time of great change and global upheaval it is more important than ever that the benefits of doing business on the Isle of Man, and the strength of Manx insurance companies, are communicated as widely as possible. The Isle of Man has AA status and White Label status from the OECD. It also has a robust infrastructure and high standards of governance.
Kneeshaw says his role will be to make sure these strengths are understood, to represent the Isle of Man insurers, and to work with Government to make sure the Isle of Man stays the best place to do business and a secure environment for policyholders’ funds.
The MIA exists to promote the benefits of Isle of Man based insurers, works closely with the Isle of Man Government on policy and industry matters and acts as a discussion forum for all those involved on the island.
At the same time, Gill Marples of HPB Assurance Limited has been appointed Deputy Chairman.
Luxembourg acquisition adds to Vistra expertise
Trust and fund administration provider, Vistra, has acquired Luxembourg-based HT Group. HT Group specialises in delivering personal solutions to owner-managers and high net worth individuals from around the world, especially in the English speaking community and offers a range of services including tax compliance, salary, company accounting and verification services.
Commenting on the acquisition, Ivo Hemelraad, Managing Director of Vistra Luxembourg who will head up the combined group said, “HT Group’s experience, focus and skill set matches closely Vistra’s own activity in Luxembourg and Europe. In particular, their auditor skills and status as Réviseur d’Entreprises Agrée will add greatly to the Group. By combining our resources and expertise, we are now well positioned to build new business relationships across Europe. We are anticipating demand for our enlarged portfolio of services both from within our own European intermediary networks and from HT Group’s existing contacts and clients.”
Vistra is part of the OV Group.
Reacting to higher US rates
‘Charity lump sum death benefit’
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
Follows string of appointments
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