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LIA appoints new director-general

The Life Insurance Association has appointed Mark Ommanney as its new director-general after a six-month selection process.

Ommanney has worked chief executive officer of an AIM listed technology company, and previously acquired 25 years of financial services experience with Sun Life of Canada.

His roles there ranged from individual sales to sales management and ultimately area sales director.

Gavin Tisshaw, president of the LIA, says: “I am delighted that Mark Ommanney has agreed to respond to the challenge and opportunity of helping the LIA further develop our offering to the marketplace and our success.

“We have the goal of significantly increasing membership within five years and developing member services to the point where the LIA is an automatic choice for anyone entering our profession. I am sure that Mark will be a great asset to the LIA in this endeavour.”


Abbey and British Gas plan equity release debut

Abbey National and British Gas plan to enter the equity release market in 2003. The companies will attempt to realise some of the potential £7bn value of the equity release market, which is currently worth less than £1bn. Abbey National will pilot a roll-up scheme in Eastbourne and Tunbridge Wells early this year, followed by […]

CEBR sees bad year ahead for housing market

The Centre for Economics and Business Research predicts a bad year for the UK housing market in 2003 as the consumer boom fades away. The gloomy forecast is among 10 predictions the CEBR makes for the economy next year &#45 although it admits that some punts are longer shots than others. It is not all […]

BoE figures show lending slowdown

The growth rate of mortgage lending slowed down in November 2002 after a strong October, reveal the latest figures from the Bank of England. Secured lending outstanding grew by £7.4bn or 1.1% in November, some £0.6bn lower than October&#39s rise. However, the value of loans approved was £22.4bn, £1bn higher than the average in the […]

CML sees buoyant lending ahead

The CML predicts buoyant mortgage lending in 2003 in its latest market briefing. A slowdown in the rate of house price inflation is widely expected. The CML says: “Most commentators agree that house price growth should moderate going into 2003, with forecasts ranging from 4% to 10%.” It adds: “With continuing strength in approvals we […]

A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery


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