News

The Government has announced a competition offering £4m funding for businesses to address the nation's biggest health problems.

Legal & General paid a total of £441 million combined death and critical illness claims in 2011, up from £373 million in 2010 and a new record for the firm.

AXA PPP healthcare is supporting the UK's largest women only fundraising event, Cancer Research UK's Race for Life 2012.

Most UK life insurers are sheltered from the sovereign debt crisis in the Eurozone and have consequently reported strong 2011 results, Fitch Ratings has said.

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

Legal & General (L&G) and The Mansfield Building Society have announced a new protection business partnership.

Friends Life has announced sales of individual protection on an Annual Premium Equivalent (APE) basis for 2011 are up 55% on last year to £80m, while group protection sales on an APE basis rose to 286% to £22m.

While Friends Life is on track for Resolution hive off in 2014, this is by no means a certainty, Friends Life has said.

The Financial Ombudsman Service (FOS) has set its budget for 2012/3 at £191.1m, meaning both the case fee and total levy will be frozen for the third year running.

Proposed changes to the Financial Services Compensation Scheme (FSCS), opening up eligibility to more parties, are likely to lead to increased compensation costs and higher levies.