Resolution Ltd’s acquisition of AXA’s UK traditional life and pensions businesses, confirmed today, has raised fears of significant job cuts. According to reports, Resolution expects to achieve cost savings of £75 million over four years by merging the businesses with Friends Provident, which it acquired last year. So far, AXA has announced that 2,200 employees will be transferred to Resolution on completion of the transaction, which... 

Aviva saw a 21% rise in worldwide life and pensions sales in the fourth quarter of 2009, to £8 billion, compared with the previous three month period. The group said it had put in a strong regional performance, with life and pension sales up 17% in the UK, 39% in Aviva Europe and 45% in the US. Sales were higher in all regions compared to the previous quarter, with a particularly strong performance in both bancassurance and retail channels in... 

The Financial Services Authority (FSA) has confirmed that it will require insurance companies and other financial institutions to publish information on how they handle complaints, by 31st August 2010. The move is aimed at keeping consumers informed on how firms are performing in this area and driving up standards across the industry. Companies that receive 500 or more complaints in a six month period must now publish the following information...