Skandia International, also known as Royal Skandia, is one of the biggest names in the offshore insurance and investment markets, is shortly to change its name to Old Mutual International, to fall in line with the parent company, Old Mutual plc. This will have certain consequences and policyholders need to be aware of how these may affect them.
The UK Chancellor of the Exchequer, George Osborne, recently presented his last Autumn Statement before the General Election next year. There are a few announcements that may affect expats, so a brief overview of some of the most relevant issues is given below.
It has just been announced that Aviva, the UK insurance company, is to take over Friends Life. This is to include all companies in the Friends Life Group, including Friends Provident International which operates out of the Isle of Man, but has been predicted by industry insiders for a while.