Hastings boss eyeing a float as premiums up in first quarter May 21, 2015 HASTINGS Insurance Group increased gross written premium by 23 per cent in the first three months of 2015, up to £132.3m from £107.4m. Combined operating ratio was also improved to 89.6 per cent from 93.7 per cent in the first quarter of last year. Meanwhile, the firm’s customer numbers increased by 19 per cent to [...]
Amlin hit by weaker euro May 21, 2015 INSURANCE group Amlin saw a one per cent reduction in gross written premium in the three months to 31 March, down to £1.26bn from £1.28bn in the first quarter of2014. The company said income growth from a strengthening of the dollar was “largely offset by weakening in the euro”. Amlin boss Charles Philipps said: “We [...]
BT boss Gavin Patterson wins £1.3m bonus May 21, 2015 BT chief executive Gavin Patterson received a £1.3m bonus on top of his £950,000 base salary for the last financial year, it was revealed yesterday. Patterson took home a total package worth more than £4.4m, up 5.7 per cent on last year. His bonus was 58 per cent of the maximum he would have been [...]
Young’s toasting a stellar year May 21, 2015 UK PUB chain Young and Co Brewery recorded bumper growth in the year ending 30 March, with pre-tax profits up by a third annual results revealed yesterday. The pub operator, more commonly referred to as Young’s, owns or manages several well known City pubs including the Lamb Tavern in Leadenhall and Dirty Dicks on Bishopsgate. [...]
Investec sell-off helps company focus on future May 21, 2015 ANGLO-South African finance group Investec yesterday said it was in the best shape for a decade, after clearing the decks of old businesses and boosting performance at its money management arms. The company, listed in London and Johannesburg, said the reduction of its UK and Irish mortgage business and banking venture in Australia was helping [...]
Waste firm has some rubbish results for 2015 hproblems May 21, 2015 WASTE company Shanks swung to a loss in the 2015 financial year, after a challenging first half could not be offset by improvements in the second. The firm reported a post-tax loss of £18.2m, down from £1.8m profit in 2014, as revenue dropped to £601.4m from £633.4m. Shanks was hit by pressure in the Benelux [...]
Qinetiq shares leap after solid annual results May 21, 2015 WEAPONS tech firm Qinetiq enjoyed a double digit surge in its share price yesterday after falling revenues failed to affect rising profits. The defence tech firm recorded a seven per cent increase in annual pre-tax profits for the year ending 31 March at £107.8m, boosted by a strong order book from the Middle East and [...]
Electra makes first divi payment May 21, 2015 ELECTRA Private Equity yesterday revealed a bulwark to a US raider’s bid to wrest control of the firm by paying its first dividend and boosting equity returns by double-digits. The listed vehicle, which owns companies such as the Original Bowling Company, said diluted net asset values rose 12 per cent in the six months ending [...]
City finds itself double booked May 21, 2015 CITY swillers may find themselves double-booked next month, as the British Bankers’ Association (BBA) and TheCityUK host their annual summer drinks parties on the same night. Both groups are holding their summer soirees on 16 June, thrusting City types into a sorry case of diary clash, with the two parties taking place at the same [...]
City Moves for 22 May 2015 | Who’s switching jobs May 21, 2015 Pension Insurance Corporation Rob Groves has been appointed chief investment officer of the specialist insurer. He joins from Friends life, where he held the same role and oversaw assets totalling £100bn. Groves has previously worked for UBS, Commerzbank and Towers. Maples Teesdale The commercial property solicitors has appointed Dellah Gilbert as a partner. She has [...]
