AIG

Global insurance giant American International Group (AIG) efforts to raise new capital were put in jeopardy after a series of damaging credit downgrades as the drama on Wall Street intensified, The Telegraph reports.

The Axa Framlington Equity Income and JPM Japan funds have been relegated from AIG Life Wealth Management's 100-strong Active Access Platform.

AIG Life Wealth Management, the pensions and investment specialist, has launched a range of fixed period Quarterly Guaranteed Funds.

Aegon has teamed up with UBS Global Asset Management to offer a joint proposition which will extend its presence in the bulk annuity market.

Only one in ten companies over the next three years are expected to remove their pension scheme liabilities, suggesting an increase in providers has not boosted business within the bulk annuity market.

Zurich has announced it is exploring the possibility of selling its closed book of annuity business.

The bulk annuity market looks set to expand from a market dominated by just two companies, to a more competitive sector with at least four new entrants announced in as many months.

The bulk annuities market is to gain two new entrants as AIG has announced it will be joining the UK arena, following closely on the heels of Aegon's confirmation yesterday.

PENSIONS MINISTER Stephen Timms yesterday confirmed there was no regret in the Government's decision to tax company pension schemes to the tune of £5bn a year, reports The Scotsman .

IT SEEMS THERE will be a running commentary in the national press over the Equitable Life court case for the rest of this year, as this morning's Daily Telegraph says the society has been accused of constantly changing its mind about the direction of...