Aviva-owned Friends Provident International is to withdraw from the UK offshore bond market as part of a restructure that will see the business move within Aviva Asia.
FPI chief executive Adrian Emery says the provider will be focusing new business growth in branches in the UAE, Hong Kong and Singapore.
However, “due to commercial considerations” it will not be open to new business in the UK offshore market, including Jersey, Guernsey and the Isle of Man.
Existing customers will not be affected.
From 1 November 2015, the firm will only accept new business from residents of the UAE, Hong Kong and Singapore; and residents of South Africa and Qatar… Read more at Money Marketing