Prudential

Prudential has today reached agreement on the purchase for the transfer of the pension annuity portfolio written in the with-profits fund of Resolution Life's subsidiary, Phoenix Life & Pensions (PLP).

A panel of product providers, IFA portals and back office software firms has announced plans to set aside commercial pressures and collaborate on the development of IFA technology and support service tools.

As many as six out of ten young Brits, aged between 16 and 34, are not saving a single penny towards their retirement, new research indicates.

FINANCIAL TRADE BODIES have backed Tony Blair's claim the Financial Services Authority was "hugely inhibiting of efficient business", says the Daily Telegraph.

Prudential has reduced its guaranteed critical illness cover and protection rates by an average 8-13%, in a bid to put its back towards the top of the pricing table.

Prudential has confirmed it will enter the equity release market with its own lifetime mortgage product in the autumn.

Prudential is encouraging advisers to use its "Experience Centres" in Stirling and Reading in an effort to better IFA business efficiencies and improve its own ability to develop products and raise business standards.

THE BIG NEWS in the national press this morning is of course the results of yesterday's general election, which so far reduces the Labour Party's majority in the House of Commons to just 66 seats.

Yesterday's AGM of Standard Life was hailed by chairman Brian Stewart as a victory after the company's resolutions were all voted through by the membership, and candidates proposed by the board all elected or re-elected as directors.

Prudential has announced it will stop paying customer compensation claims directly to third-party firms.