ALL CHANGE AT LLOYD’S AS IT RINGS 25 YEARS May 26, 2011 IT MAY seem like only yesterday for many City veterans, but today marks 25 years since the first managing agents moved into the landmark Lloyd’s building on Lime Street. So happy anniversary to the insurance giant, which still shows traces of more than 300 years of Lloyd’s history, such as the famous Lutine Bell, which [...]
FTSE lifted by commodities and Man Group May 26, 2011 The FTSE rose today as commodity stocks received a lift while a series of positive corporate results helped to boost investor sentiment. As G8 leaders gathered in France with the future leadership of the IMF and the eurozone debt crisis at the heart of the talks, global markets regained some lost confidence. Investors once again [...]
CITY VIEWS: IS THERE IS A NEW DOT.COM BUBBLE? May 25, 2011 DEEPAK MALIK | AVIVA “I think possibly, yes. Companies such as LinkedIn are valued very highly and it’s not justifiable. It will be interesting to see what other websites such as Facebook and Twitter are valued at.” WARREN CAMPBELL | JUBILEE “I think there is but it’s not going to be as devastating as it [...]
Lloyds poaches Aviva life boss May 23, 2011 Lloyds Banking Group has poached Aviva’s head of UK life insurance to run its own insurance business. Toby Strauss had worked for Aviva since 2008, and will join the firm as group director of insurance and a member of the group executive committee, subject to FSA approval. Lloyds chief executive António Horta-Osório has made a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 22, 2011 FINANCIAL TIMES BAIN PULLS OUT OF RAC AUCTION Bain Capital has pulled out of the bidding for RAC, the roadside rescue business of UK insurer Aviva. The US private equity group last week dropped out of the auction after bidding less than its rivals, people close to the situation said. That leaves Carlyle, Clayton Dubilier [...]
O’Driscoll is still a doubt May 19, 2011 LEINSTER vs NORTHAMPTON IRELAND captain Brian O’Driscoll remains a doubt for Leinster’s Heineken Cup final against Northampton tomorrow. O’Driscoll sustained a knee injury against Ulster last weekend and was unable to take a full part in yesterday’s training session. Leinster coach Joe Schmidt said that O’Driscoll had only been able to run at “three-quarters pace” [...]
CITY VIEWS: DO YOU HAVE A SMARTPHONE? May 17, 2011 NIPON RAVEL | XCHANGING “Yes, my head’s always in it! I use it for both work and social purposes, and I also have a separate smartphone just for work.” PAM TREVETT | AVIVA “I’ve had one for a while now and I definitely wouldn’t survive without it. It’s great being able to combine work and [...]
Aviva enjoys UK sales jump May 17, 2011 GROWTH in UK home and motor insurance boosted Aviva in the first three months of the year, offsetting a sluggish performance in its life division, the company said yesterday. Aviva, the UK’s second-biggest insurer, saw global non-life insurance premiums rise nine per cent to £2.7bn in the quarter, compared with the same period in 2010, [...]
ANALYST VIEWS: WHAT STOOD OUT IN AVIVA’S RESULTS? May 17, 2011 KEVIN RYAN | INVESTEC The big attraction in a UK context is its composite business model. Cash from the non-life business essentially covers shareholders’ dividend and this places it in a very good position. The only note of caution is that it is winning significant new business in UK motor where premiums rose 60 per [...]
Aviva hit by drop in life insurance sales May 17, 2011 Insurer Aviva reported a 14 per cent drop in life insurance sales during the first quarter as it withdrew from less profitable segments of the market. Aviva had long term savings sales of £8.8bn in the first three months of the year, down from £10.2 billion a year earlier, it said. The decrease came as [...]