Resolution Share Discussion Threads

[tsmith2] 31/3/2014 16:43

good sign of confidence..

[cwa1] 31/3/2014 16:03

Nice show of confidence:-

[forwood] 31/3/2014 14:01

Last year it recovered the divi within 2 weeks.

[strutt12] 31/3/2014 11:46

Back to 285p on Wednesday then

[a0148009] 31/3/2014 11:19

I have a joint whole life policy with Allied Dunbar which was part of Zurich Financial Services Ltd, in 2004 Zurich made changes in to bring together Allied Dunbar,Eagle Star Life Assurance and Zurich Assurance plc into one - the combined company is called Zurich Assurance plc and is based in Swindon.

FWIW I think in due course RSL will recover as I do not see any retrospective fines,and FCA will be looking at policies going forward, FCA has already stated that it will not ban exit charges but clearly they will wish to see them fair. FCA bungling on the way it has approached these issues has lost a considerable amount of credibility and feel therefore they will proceed very carefully and consult with Life Insurers.

AO

[tsmith2] 31/3/2014 10:30

Someone at the FCA needs firing

[aleman] 31/3/2014 10:21

FT has commented on it and that's vague, too, so looks like that's all there is.

[aleman] 31/3/2014 10:15

Those releases seem very vague. Is that it? It basically says they will be investigating most stuff over the next year or two. Fees, annuities, cross-subsidising from heritage products. I can't find any meat on the bones, though.

[skinny] 31/3/2014 08:56

I believe its announced @9am

There are a couple from today so far under "Latest News".

[tsmith2] 31/3/2014 08:38

Anyone a link to the FCA release?

[wllmherk] 30/3/2014 09:31

I agree tsmith. Unfortunately I was out at work all day on Friday and missed the carnage. Will try and pick some up early doors if they don;t bounce too much :)

wllm

[tsmith2] 28/3/2014 16:39

This should bounce quite nicely on Monday and a 5% divi to look forward to too

[tsmith2] 28/3/2014 16:39

I meant the recovery earlier today

[a0148009] 28/3/2014 16:12

tsmith2 - agree movements in the market did not feel right and some got the whiff of events before the budget statement and before the FCA review.

AO

[tsmith2] 28/3/2014 16:07

Clearly the city insiders got the leak before the news was released..stinks

[skinny] 28/3/2014 16:06

Duplicate of post 1206.

[inv] 28/3/2014 16:02

no issues here

[cwa1] 28/3/2014 15:58

Response to FCA announcement



28 March 2014





Resolution notes the FCA's announcement regarding a review of the fair treatment of long standing customers in life insurance. We look forward to receiving further details from the FCA.



We put all of our customers at the heart of our business and engage with them on a regular basis. In 2011, Resolution established Heritage, a standalone division with a dedicated management team specifically focused on meeting the ongoing needs of customers with legacy products.



An example of the benefits from this specific focus is the recent investments in the Heritage division, including the migration of our customers from legacy systems to a modern IT platform that will deliver improved customer service. The costs of these investments are borne by Resolution and do not fall to customers.



Life insurance has been and remains a highly regulated industry. It has undergone a series of independent reviews to ensure transparency and fair treatment of customers. We therefore look forward with confidence to working with the FCA once it issues official guidance.





- Ends -

[a0148009] 28/3/2014 15:48

Osborne could have handled this change better but clearly he wanted to shock and awe instead of consulting with the insurers.
This does not necessarily mean that there will be retrospective compensation as so many of these policy providers have changed hands several times - I have policies that have had 3, 4 and 5 insurers.
It will certainly mean in the future that past rich pickings will not be there but sales of life insurance and pensions may increase materially if policy holders get a better deal.
No doubt it is a shock coming out of the blue for the life insurance business but if you keep screwing the customer eventually you will get found out and the day of reckoning will come.

Another case of unintended consequences and destabilising the life insurance market without proper preparation.

AO

[tsmith2] 28/3/2014 15:40

another push coming up..

[inv] 28/3/2014 15:01

This should be around £3.40

[forwood] 28/3/2014 14:52

all the insurers have recovered so must be news generally

[abcd1234] 28/3/2014 14:50

Makes a nice start to weekend shortly :)