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Generali cuts commission on ‘loss-making’ Vision product

Rate to be cut by one-third to 2% on plans with terms below 10 years; plans over 10 years remain unchanged

Proposed implementation date of the change is Q3 2017

Dublin-based Generali PanEurope has announced plans to cut the upfront commission by a third on its Vision regular savings plans that have terms of less than 10 years.

In a note sent to its partners, the insurance company said sales of these plans had grown as a proportion of its overall sales mix but were unprofitable.

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Including… The prospect of yet more twists and turns for international financial planners as the UK elects a new government, a South Africa family office’s plans for robo-advice, growth prospects in the US for Bupa, and why Templeton’s veteran fund manager guru Mark Mobius keeps on going
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