The Prudential has named its new chairman as Harvey McGrath, previously the chairman at leading hedge fund company Man Group. Mr McGrath retired from that position late last year but has clearly felt the need to return back into the financial services sector with this new appointment.
The role will be a non-executive one for which he will receive a fee of GBP500,000 annually. Mr McGrath felt that the Prudential combined a very strong history with an exciting future and as such seemed the perfect choice for him. He also meets the requirements of investors who wanted to see a chairman who was based in the UK but also brought experience of the international arena.
Mr McGrath has plenty of experience to draw upon and is looking forward to the challenge, with lots of background and hands on knowledge of many things the Prudential are currently dealing with.
Life Assurance plans are something that everyone should have, as long as they are the most suitable for the customer. The CIS Life Insurance division is offering some handy tips to help customers make sure their loved ones are looked after.
CIS Insurance are, for example, offering customer alerts to advise of premium increases as well as identifying the best life assurance policies for those with children. A key aspect of this type of cover is the provision of income replacement, where a sum is paid on a quarterly basis to the remaining family.
A word of warning is also issued regarding Whole of Life policies, from the CIS or any other insurance company, since they are tied in to the performance of the stock market. This means that the amount payable could actually be less than that paid in.
A new mortgage and lifestyle protection package has been announced by Liverpool Victoria, designed to provide peace of mind for customers who suffer sickness or unemployment.
The package is quite comprehensive in what it offers, with the option of regular mortgage payment coverage or an index linked sum that will replace more living expenses in the event of difficulties. There is a lot of flexibility in the package too, with the facility to have cover running for different periods of time depending on the need.
A Liverpool Victoria spokesman explained that the protection package offered the flexibility customers wanted with simplicity and delivered the peace of mind that was sought.