Tax wheeze prompts life insurers' buy back plan
Article Abstract:
Legal and General plans to buy back convertible bonds in a move that is similar to a stock buy back, but which is treated differently by the tax authorities. The company is able to save 40 million pounds sterling worth of tax charges by stating that it has suffered a loss of 132 million pounds through buying bonds worth 88 million pounds for 220 million pounds. Bond holders should benefit too. The company retains the right to take a decision on the amount of the bond issue that it will buy.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Not-so-little orphan assets
Article Abstract:
The orphan assets of AXA Sun Life could go to policyholders or stockholders, and the decision on this could affect the life assurance industry as a whole.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2000
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Finding an Equitable solution
Article Abstract:
Problems facing Equitable Life policyholders are examined in detail. The company has reduced bonuses for policyholders with with-profits policies.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2001
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