Life offices miss point about with profits dilemma

With-profits providers are making huge efforts to improve their offerings but it is a misuse of re...

With-profits providers are making huge efforts to improve their offerings but it is a misuse of resource as far as anyone already in the product is concerned. At last week's Investment Week conference on with-profits providers were very keen to talk about their new Sandler-friendly products which have greater transparency and payouts more obviously linked to underlying asset performance. The big problem was that no one wanted to talk about existing business, written by life offices in the past and which is now struggling. Instead the message was that intermediaries should back life...