Clerical to close its doors on GPPs for good

CM says the company has decided to focus its business strategy more on individual pensions and individual investments, including onshore and offshore bonds, as these are the markets where they already have a strong footprint, with bonds and investment business expected to grow by 10% a year. However, Keith Gilmour, head of Clerical Medical, says in the group pensions sector “chasing and administering new schemes is proving costly” with the market constituting of a “significant number of schemes simply moving from provider to provider” rather than any really new business. He says Clerical ...