Life services out-earned the rest of the group in the first half, with insurance profit up 20%, while the bill for last year's uninsured hack still hangs over the mutual
The failures are not spread evenly across time - more than 65% occur in clusters, often after sustained periods of calm, and most of the policyholders affected outside North America had no compensation scheme to fall back on
The FCA's early intervention model - stopping regulated activity before insolvency - puts client money segregation and wind-down planning back on compliance agendas
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