Esure share price drops as insurance firm ups stake in GoCompare to 100pc December 8, 2014 Insurance firm Esure Group has bought the remaining 50 per cent of GoCompare.com, having purchased the other half of the price comparison website in 2007, one year after its launch. Esure paid £95m to bring its holding up to 100 per cent and Jon Morrell, currently the firm’s deputy chief operating officer, is to [...]
GoCompare founder Hayley Parsons will take home £44m from sale December 8, 2014 Businesswoman Hayley Parsons, founder and chief executive of Go Compare, will pocket £44m when she cashes in her 23 per cent stake in the company she created. Parsons, who worked at Admiral Group for 14 years before launching the price comparison website in 2006, will step away from the firm when the Esure Group acquisition [...]
City regulator sweats ahead of Davis probe December 8, 2014 The FCA will be opened up to scrutiny this week as a review of its insurance work is published Roman poet Juvenal, one of the world’s first great satirists, left an important legacy in the form of the phrase “quis custodiet ipsos custodes?”. It translates as “who will guard the guards themselves?” The quotation is [...]
Aviva in danger of losing major Asian contract as rivals close in December 7, 2014 INSURER Aviva is facing a sale of one of its biggest contracts in Asia, according to market sources. If the company does not want to lose its bancassurance deal with Singapore’s DBS, which is due to end in 2015 after 14 years, it may be forced by a competitive auction process to pay in excess [...]
Worldview calls for Petroceltic chief exec Brian O’Cathain to go December 7, 2014 Capital management firm Worldview has announced it is suing Petroceltic International for breach of corporate governance. Worldview, which is the biggest shareholder in Petroceltic, said yesterday that it had issued legal proceedings against the company in the High Court in London last week. However, a spokesman for Petroceltic said the company had not received [...]
Tanzania deal win for Atlas December 7, 2014 OIL SERVICES company Atlas Development & Support Services has won its first contract in Tanzania, and now operates in five countries in East Africa. As part of the new deal the firm will provide turn-key support services, including workforce accommodation, facilities management, medical infrastructure, and logistical support to an international drilling company.
Anglo gears up for assets sale December 7, 2014 DETAILS of Anglo American’s plans to sell off assets will be revealed at its investor day for 2014, which will take place in London tomorrow. The London-based mining firm has previously announced that it is looking to sell off assets at a number of sites, including some of its oldest platinum mines in South Africa. [...]
Wikipedia founder Jimmy Wales to debut The People’s Operator on market December 3, 2014 Commercial mobile network The People’s Operator (TPO) has raised £20m ahead of its listing on Aim tomorrow, which has attracted strong interest from institutional investors such as Aviva, JP Morgan and Allianz. The company, led by Wikipedia founder Jimmy Wales, plans to use the funds raised to expand internationally. TPO recently signed a contract [...]
Esure board will see duo depart in May next year December 3, 2014 INSURANCE firm Esure group revealed the departures of Dame Helen Alexander and Anthony Hobson yesterday, both of whom will step down from the company’s board after its general meeting in May 2015. Alexander – the first female president of the Confederation of British Industry – will stand down after three years as deputy chairman and [...]
Chesnara boss to step down after striking Dutch deal December 3, 2014 LIFE insurance consolidator Chesnara is chasing growth in the Dutch market with the purchase of Waard Group for €67.8m (£53.4m). The company described the Waard Group businesses as strongly capitalised, noting that “the potential for phased, orderly capital extraction is a key attraction of the acquisition”. Graham Kettleborough, Chesnara’s boss, said he was “very excited” [...]
