AKG has published a revised edition of its With Profits report, designed to help advisers and paraplanners more easily locate with profits holdings for their clients.
AKG has been publishing its annual series of UK Life Office With Profits Reports for over two decades.
“During this time we have seen the with profits market go through many changes, not least the raft of mergers and acquisitions (M&A) which have occurred. Many clients will have simply lost touch with who is managing their with profits policies over the passage of time and in some circumstances their policies will have been caught up in not just one but multiple M&A activities,” says Matt Ward, communications director at AKG.
The reference document provides listings, designed to show ‘Original Brand’, ‘Current Group’ and ‘Current Company Name’.
“Despite a vastly altered with profits market landscape we know that the amount of with profits business in-force remains considerable (with profits technical provisions totalling nearly £248bn at the end of 2021 [2020: £250bn]),” Ward continues.
“As such fielding with profits related queries is unlikely to be an isolated exercise.”
