Finance bill clause challenged by AILO

Article Abstract:

AILO (Association of International Life Offices) is bringing legal action against a clause in the Finance Bill. It believes that Clause 85 is an infringement of the Treaty of Rome because it calls for foreign insurance companies with UK clients to appoint a fiscal representative, who will then report policy gains to the Inland Revenue. There is concern too that other countries may respond in a similar way if foreign companies have to establish UK systems. Establishing a fiscal representative will involve setting up new and expensive systems. An understanding of how to calculate tax gains will also become necessary. The UK tax department will be able to monitor whether UK individuals have given all the information relevant to their tax return through this clause, a factor not attractive to the AILO.

Comment:

UK: International Life Offices Assn brings legal action against Clause 85 in Finance Bill believing it violates Treaty of Rome

Government regulation (cont), Public affairs

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Axa keeps Sun Life name for branding

Article Abstract:

French insurance company Axa is to wait until it has developed a more recognisable name among UK households before it withdraws the Sun Life brand. The Sun Life pensions and life business was acquired by Axa in 1996, but only 30% of people recognise the Axa name, compared to 70% for Sun Life. Axa is building its brand recognition mainly through sponsorship, such as football's FA Cup.

Comment:

Is to wait until it has developed a more recognisable name among UK households before it withdraws the Sun Life brand

Marketing procedures, AXA G.I.E.

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