by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Expat Investor : September 2008
ISLE OF MAN Royal London Group takes on SPI through existing distribution partners.” Mr Taylor added that the strategic rationale of this acquisition was clear. “Royal London’s growth in the offshore sector will accelerate and we will substantially increase the scale of our operations. This will provide a sound platform on which we can continue to deliver profitable growth. Royal London Group is a specialist financial service provider. It operates through a number of brands: ? Scottish Life – UK pensions market ? Bright Grey – UK protection market ? Scottish Life International – offshore investment markets ? Scottish Provident International – offshore investment markets ? RLAM – fund management ? RLAS – life and pensions administration ? Fundsdirect / Ascentric – funds supermarket;Wrap Platform Royal London is the largest Scottish Provident International Life Assurance (SPILA) has become part of the Royal London Group, the UK’s largest mutual life and pensions company. Continued from page 7 delighted to launch this latest issue of our fixed rate bond series with a very competitive rate of interest. At this time, when customers are looking more and more at the financial strength of their bank, it is particularly pleasing that we are able to provide both security and excellent savings rates.” “I am sure both these Mike Yardley, Group Chief Executive of Royal London, speaking at the time the two companies merged, said, “We are delighted to welcome Scottish immediate parent, Zurich Bank, which bucks the trend with some other banks. I am sure both these announcements will provide a level of comfort to our customers which, together with the certainty of knowing how much interest they will receive at the end of the 1 year fixed term, will ensure the product is well received by our customers, both existing and new.” Bradford & Bingley announcements will provide a level of comfort to our customers which, together with the certainty of knowing how much interest they will receive at the end of the 1 year fixed term, will ensure the product is well received by our customers, both existing and new. ” Mr Sheward continued, “Our ultimate parent company, Zurich Financial Services, has recently issued strong financial results for the first quarter of 2008 and just as importantly has restated that it has no material exposure to US sub- prime debt. In addition, Standard & Poor’s has recently reaffirmed its credit rating of AA-/Stable to our 8 EXPAT INVESTOR ? International (BBI) is one of the largest offshore savings banks in the Isle of Man. The firm serves many thousands of customers in more than 125 countries around the world and holds deposits exceeding £3 billion sterling. BBI offers a range of sterling, US dollar and euro-denominated accounts. Both the US dollar and the euro accounts are available on a seven day notice term and minimum deposits start at US$10,000 and €10,000. Sterling savers will be interested in BBI’s latest launch – a one year fixed rate bond offering an interest rate of up to 7.00% gross p.a. fixed for 1 year. What’s more for those nervous of locking money away for a year, savers are given the flexibility of emergency withdrawals if required in lieu of 90 days loss of interest on the amount withdrawn. BBI confirms this bond can be opened with a minimum opening balance of only £10,000 and interest is paid on maturity on the 30 June 2009. Also on offer to regular sterling savers are BBI’s range of accounts split over no notice or 90 day notice terms. BBI’s eSaver account has featured in the best buy league tables for some time. “eSaver is available to customers in the Isle of Man, Channel Islands, European Union and around the world, and an September 2008 Provident International to the Royal London Group. Completion of the transfer provides a step change in Royal London’s presence in the offshore market. In SPILA and account may be opened with just one pound. “What’s more, a regular savings option will help you make sure your excess income really works for you… eSaver allows investors to view and manage their account from any internet connection, anywhere – providing 24/7 access and control. “No notice is required for withdrawals and there are no charges or penalties levied (provided no more than three withdrawals are made per annum). “The account is easy to set up, making it the ideal option for busy people. eSaver doesn’t just offer a high rate, but guarantees that the interest rate will remain above the Bank of England base rate until at least the end of 2008. “Finally, being an offshore account, eSaver offers payment of interest gross, without any local taxes applied (although European Union residents may be subject to withholding tax under the EU Savings Tax Directive).” Britannia International is another Isle of Man-based deposit taker with regular sterling savers in mind. The news of the launch of its Regular Saver account, grabbed the attention of British expats. Britannia International says that one of the keys to successful saving is to make it a regular habit but, adds this deposit-taker, noticed surprisingly few expatriate accounts on the market rewarding monthly savings. This new Regular Saver account was designed to fill the gap and is aimed specifically at helping savers build up a lump sum. “The account is very simple to operate,” reassures Britannia International. “Savers commit to making a monthly deposit, which can be from as little as £50 up to £5,000, paid by direct debit. This makes it an expatinvestor.com Scottish Life International, we now have established international operations in key markets, servicing over 40,000 customers with £1.8 billion funds under administration easy way to save as, once the account has been opened, there’s no need to worry about remembering to post cheques or arrange monthly electronic transfers. “Savers commit to making a monthly deposit, which can be from as little as £50 up to £5,000, paid by direct debit. This makes it an easy way to save as, once the account has been opened, there’s no need to worry about remembering to post cheques or arrange monthly electronic transfers.” “As well as an attractive rate of interest, paid on all balances from £50 upwards, an extra 0.50% interest bonus is available each year. “This is paid where monthly payments are maintained throughout the year and no more than one withdrawal is taken, providing the perfect incentive to keep on saving.” Britannia International also offers a range of other offshore accounts including easy access, notice and fixed rate products, as well as its Deferred Interest account which allows savers to choose when interest is paid – and their tax liability due – mutual life and pensions company in the UK with Group funds under management of £32.6 billion. Group businesses serve around three million customers and employ 2,630 people. anytime after a two-year investment period. Alliance & Leicester International (ALIL), shortly to become part of the Santander Group, is also developing its online banking technology with its internet savings account. ALIL claims that the eSaver Offshore was the first offshore savings account to offer an online application process without the need for a ‘wet’ signature, thus cutting weeks off the typical application process. Designed to enable customers to buy and manage their account online, eSaver Offshore allows applicants to access their finances from anywhere in the world. Sales and Marketing Manager, Simon Ripton, claims that, “Not only does the eSaver Offshore reduce the amount of time it takes to set up an account, it makes it easier for expats to manage their money. Account balances, historic transactions and payments instructed can be viewed online by use of the banks secure online message service, at any time from any location around the globe.” ALIL offers a wide range of sterling accounts for savers including those that span no notice, 30, 90, and 180 day notice terms. FAST FACTS Alliance & Leicester International 77140 Anglo Irish Bank (IOM) 77141 Bradford & Bingley International 77142 Britannia International 77143 Fairbairn Private Bank 77144 Irish Permanent International 77145 Kaupthing Singer & Friedlander (IOM) 77146 Zurich Bank International 77147 Irish Nationwide (IOM) 77148 For more information just enter the above numbers on the Reader Reply Service coupon on page 20 or visit www.expatinvestor.com
July August 2008