Insurance

Advisers and agents selling clients investments in Caribbean villas run by Harlequin Property received commissions of up to 15%, according to a lawyer close to the situation.

New business at insurance giant Aviva was up 18% in the three months to 31 March, reaching £191m, according to its latest results.

Tributes are continuing to flood in for Len Warwick CBE, a former president of the Life Insurance Association (LIA), who died on Sunday.

Len Warwick, who has been described by colleagues as a "pioneer" of professionalism and treating customers fairly (TCF) in financial services, has died aged 68.

Banking giant HSBC has proposed reducing staff numbers by 1,149 as part of a restructure of its wealth business.

Harlequin Management Services (South East), which trades as Harlequin Property, has filed a notice of intention to appoint administrators at the High Court of Justice.

Skandia has launched a critical illness (CI) product as many advisers "re-prioritise" protection following changes to retail investment advice made following the Retail Distribution Review (RDR).

Aviva is to reduce its staff numbers by 2,000 over the next six months - a 6% reduction of its global workforce.

A private client adviser at wealth firm HFM Columbus Asset Management has been charged with the murder of a wealthy socialite, according to reports.

M&G broke its own records in 2012 to post soaring inflows and AUM at an all-time high, according to its full-year results, but expects sales in the UK to slow this year.