UBS unable to cover life insurance clients

Fri, 15 Aug 2008

According to reports, investment bank UBS has been left without a expert analyst to cover life insurance broking clients Standard Life and Prudential . The bank reported a reshuffle of business, and said that it will cease to cover the life insurance sector .

The bank released a statement reportedly commenting: "Following a reallocation of resources within UBS we are ceasing coverage of Aviva, Friends Provident, Legal and General, Prudential, St James's Place and Standard Life, effective immediately."

The move follows the retirement of insurance analyst Roger Hill, who has taken early retirement . Whether the lack of analyst coverage is a cause for concern depends on which sector of the market one listens to, with rivals calling the situation an embarrassment.
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