Sabre insurance reveals plans for £213m float with boss saying: “It’s not all young drivers in hot hatches” November 13, 2017 Quirky British car insurer Sabre today announced plans to raise £213m from a London stock market listing. The move will enable private equity firm BC Partners to realise part of its investment into the Dorking-based firm. BC, which paid £240m in 2013 for the firm, will retain a “significant stake” in Sabre post-float. Sabre specialises [...]
Aviva readies to float new £200m commercial property real estate investment fund (REIT) November 7, 2017 Aviva has become the latest firm to back London’s post-Brexit property market, announcing it will float a new investment company focusing on UK commercial real estate. The real estate investment trust (Reit) from Aviva Investors, the alternative investment branch of insurance firm Aviva and the largest manager of UK commercial property, with £24bn under management, [...]
HSBC and Barclays throw weight behind green finance projects November 6, 2017 HSBC and Barclays added their weight to the growing area of green finance today, with separate commitments to environmentally friendly schemes. HSBC today said it will provide $100bn in sustainable financing and investment by 2025, with support for “clean energy and lower-carbon technologies”. Unveiling a series of measures on the environment, HSBC announced it will [...]
Sexism in the City: Jayne-Anne Gadhia tells MPs of “pervading sexism” in the Square Mile October 24, 2017 A former environment of “pervading sexism” in the City created an “alpha male” environment in which harassment was common, according to Virgin Money chief executive Jayne-Anne Gadhia. Speaking today to MPs on the Treasury Select Committee, Gadhia said she had come across multiple incidents during her career in the Square Mile when sexism had reared [...]
Prominent investor group the International Corporate Governance Network (ICGN) adds forceful objection to FCA’s Saudi Aramco listing plans October 12, 2017 A prominent investor group has strongly objected to controversial plans to allow sovereign companies such as Saudi Aramco lower transparency requirements to list in London, with a consultation by the City watchdog closing tomorrow. Under the plans put forward in July by the Financial Conduct Authority (FCA), state-owned companies such as Aramco will qualify for [...]
Investment in UK insurtech startups is rocketing, easing Brexit fears September 4, 2017 The amount of cash flowing into innovative UK startups hoping to disrupt the insurance sector is rocketing, new figures reveal, with London attracting more than any other location in Europe. Investment in insurance technology (insurtech) has grown an astonishing near 3,000 per cent in 2017, hitting £218m according to fresh insight from Accenture and CB [...]
Charter Court Financial Services is set to announce plans for £500m float in London | City A.M. September 3, 2017 Buy-to-let mortgage lender Charter Court Financial Services is expected to reveal a £500m initial public offering (IPO) on the London Stock Market, according to reports. The owner of Exact and Precise mortgage brands could announce plans for a float as soon as this week with a market value of about £500m, Mark Kleinman at Sky [...]
Proptech startup Habito lands £18.5m to make mortgages digital in series B led by Atomico September 3, 2017 A fintech startup focused on making mortgage applications easier has bagged millions more in funding from top investors. Atomico, the venture fund set up by Skype founder Niklas Zennstrom, led the £18.5m series B round with existing investors Ribbit Capital, Mosaic Ventures and Revolutionary (ad)Ventures also participating. It brings total funding for the startup – [...]
Digital challenger bank Revolut smashes more crowdfunding records with Seedrs campaign July 31, 2017 The fire continues burning under fintech with huge demand for the latest crowdfunding of digital challenger bank Revolut. More than 40,000 people have pre-registered to back the banking startup ahead of the official campaign which kicks off today. Combined, they have pledged more than £17m, however, their investment will be capped at £1,000 each and [...]
Mark Zuckerberg and Elon Musk are embroiled in a geeky spat over artificial intelligence and robots July 26, 2017 We can officially hand out the award for geekiest fight of the year. Two of the most influential entrepreneurs of the last decade, Facebook founder Mark Zuckerberg and serial entrepreneur Elon Musk, have entered into a war of words over the future of robots and artificial intelligence. The pair have taken opposing sides in the [...]