Asian consumers, boomerang businesses and M&A likely to shape 2021 January 6, 2021 It was some year. Anyone who took on the challenge of forecasting what would happen in 2020 more than likely saw it all swiftly swept aside – but, as they say, prediction is very difficult, especially when it’s about the future. Still, investing is a forward-looking profession and so we inevitably find ourselves thinking about [...]
Zurich and Farmers to buy Metlife property and casualty for $3.9bn December 11, 2020 Zurich Insurance’s subsidiary Farmers Group has agreed to team up with Farmers Exchanges to buy Metlife’s US property and casualty business for $3.94bn (£2.96bn). Zurich will contribute $2.43bn through FGI, while Farmers Exchanges will chip in $1.51bn, Zurich said. “The acquisition significantly increases the potential for growth at the Farmers Exchanges and will further boost [...]
Aviva hands out dividends as inflows rocket to £1.2bn during pandemic November 26, 2020 Aviva has maintained its interim dividend during the pandemic, after the company saw strong new business wins in the UK and North America that boosted third-party net fund inflows to £1.2bn. The figure marks a huge jump from the £500m of inflows in the same period during 2019, despite tough market conditions during the coronavirus [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 25, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
Aviva to sell stake in Italian life insurance venture for €400m November 23, 2020 Aviva has agreed to sell its entire 80% shareholding in Aviva Vita, an Italian life insurance joint venture, to partner UBI Blanca for €400m. The life insurance provider noted the transaction will increase Aviva’s net asset value by £0.1bn. It said the move would also strengthen Aviva’s Solvency II capital surplus by £0.2bn and increase [...]
Could ditching the office make us all poorer? November 12, 2020 While we have in many ways adjusted to life in a pandemic, the profoundly disorientating changes we’ve seen since the initial nationwide lockdown are stark. The “death of the office” narrative has persisted through the easing and then reimposing of lockdown restrictions, and while no one can predict exactly how this will play out, it [...]
Got an HSBC account? It’s time to show your support for the people of Hong Kong November 3, 2020 British consumers have faced a tough few months — but for those banking with HSBC, times may be about to get tougher still. Following a reported 35 per cent fall in its quarterly profits, HSBC has announced that it might have to start charging its customers for basic services such as current accounts British customers [...]
Boardrooms and ethnic diversity: finally, momentum? October 16, 2020 Britain’s largest companies’ progress towards having more ethnically diverse management has been sluggish. But are things about to speed up? The Confederation of British Industry (CBI) began the month by revealing plans for a campaign aimed at boosting racial and ethnic participation in senior leadership. Alongside companies including Aviva and Microsoft, the CBI is preparing [...]
Working from home takes toll on younger generations, survey finds October 14, 2020 Working from home is disproportionately affecting young people, according to new research, as fears of fresh local lockdowns around the country continue to hamper a return to the office. More than 85 per cent of 1,500 office workers surveyed by design firm Oktra said they struggled with the switch to homeworking during the pandemic. Younger [...]
Record rise in redundancies as firms battle coronavirus crisis October 13, 2020 Redundancies soared to the highest level in more than a decade, rising by a record 114,000 between June and August, due to the impact of the coronavirus crisis. The latest figures from the Office for National Statistics showed that redundancies increased by 113,000 on the year, and a record 114,000 on the quarter, to 227,000. [...]