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GE Life says new identity will help it succeed in equity release sector

GE Life is set to reveal its new name on Wednesday April 11 following its sale to Swiss Re last October.

The former insurance arm of General Electric was acquired by Swiss Re on October 13 for 465m.

The acquisition saw Swiss Re acquire about 400,000 policies with total assets of approximately 8bn.

The portfolio is composed primarily of savings and income retirement planning products.

At the time it was stated that GE Life would continue to write new business through financial advisers under a new brand name to be announced this year.

Although the new name has yet to be made public, GE Life has confirmed to Mortgage Strat-egy that it will reveal the brand at an evening event for the industry next month.

In February, GE Life announced that it was pulling out of the home reversions market, blaming low profits from the sector since regulation.

Simon Little, equity release product and marketing manager at GE Life, says: “We are particularly excited about the new name and branding.

“We believe it will help us move forward in the markets in which we are operating, particularly in the field of equity release.”


FSA plays down MPPI fears

The Financial Services Authority has reassured brokers that their mortgage payment protection insurance fears are unwarranted as long as their product advice is in line with its rules.

How brokers can cover their backs

The inability of some borrowers to understand a single thing about their loans used to be a taboo subject. Cynical people might suggest that it was only taboo because borrower weakness was something brokers were happy to exploit and therefore wanted to keep quiet. Or that lenders were keen to avoid the authorities’ beady eyes and avoid mis-selling scandals while continuing to shift unsuitable products.

Accord still awaits B2L OK

Accord Mortgages has reveal-ed that it is holding off from entering the buy-to-let market until the Office of Fair Trading comes to a decision on the Consumer Credit Act’s effect on the sector.


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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