Aviva

Enhanced annuity sales exceeded a billion pounds in the second quarter of the year, according to research by Towers Watson.

Aviva has said up to 800 jobs at its UK business are under threat as it continues to drive through cost-cutting measures.

Three ex-Honister providers will continue to accept bulk transfers despite MacRobin's assertion that there are legal and practical issues that should prevent them from doing so.

RACE FOR SECOND

Insurer Aviva recorded a loss after tax of more than £680m in the first half of the year, after writing down some £870m of goodwill at its US business.

Aviva Investors has sold its sustainable and responsible investments (SRI) funds business to Alliance Trust Investments in a £1m deal.

Standard Life and Aviva have said that a letter from the Honister administrator to advisers stating it would not approve the bulk transfer of ex-Honister client agencies will not affect their decision on the issue.

Aviva is set to expand its equity release pilot scheme, following a successful trial period earlier this year.

EQUITY RELEASE

Equity release advances have increased to the highest level in two and a half years according to the Equity Release Council (ERC).