UK: VANNI TREVES WILL LEAVE IF CONFIDENCE LOST
Article Abstract:
The new chairman of Equitable Life, Vanni Treves, has stated in an open letter to policyholders that if he does not retain their confidence he will give up his post. The company has been acquired by Halifax for GBu 500mn. Treves has reduced his basic salary to GBu 60,000 from GBu 300,000 and reduced his guaranteed annuity rate (GAR) entitlements by 50%. There have been a number of management changes and the company is making a big effort to recruit non-executive directors.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: RESTRUCTURING FOR FAMILY ASSURANCE
Article Abstract:
Friendly society, Family Assurance of Brighton, UK, is restructuring into three divisions forming the Family Assurance Group and including a new company, Family Enterprises, to explore opportunities for growth. The group is looking to continued growth, diversification and opportunities to foster new ideas, according to John Reeve, chief executive of Family Assurance.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: Standard Life blocks way for carpetbaggers
Article Abstract:
Standard Life, the UK-based mutual insurer, intends to make it more difficult for special meetings to be called by members, in the fight against carpetbaggers, by raising the number of members' signatures required to call a meeting to 1,000 from 50. The company also plans to change its voting system.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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