Catastrophe bond issues set for high August 23, 2010 NEW issues of insurance catastrophe bonds should rapidly rebound to pre-financial crisis highs as securities markets stabilise, insurance broker Aon Benfield said yesterday. Investors are showing sustained interest in so-called cat bonds, which enable insurance companies to transfer big risks such as for hurricane or earthquake damage to financial market investors, while their prices have [...]
Strict Strauss lays down law to troops August 17, 2010 CAPTAIN Andrew Strauss has warned his England troops of their off-the-field responsibilities after coming close to losing Graeme Swann for today’s third Test with Pakistan at The Oval. Spinner Swann missed Monday’s practice session after appearing in a Nottingham court to answer a drink-driving charge. Swann told the court he had returned from birthday celebrations [...]
Reflections on the Philip Green saga August 16, 2010 MY first contact with Sir Philip Green came around two decades ago when he was running a small public company called Amber Day. I had written a two paragraph story for the Independent newspaper which provoked the retailing tycoon to scream down the phone at me the following day. “I cut out your article out [...]
Aviva told to deliver or see itself split up August 16, 2010 INVESTORS piled pressure on Aviva to come up with a credible alternative to being broken up yesterday as the insurer formally knocked back rival RSA’s “unacceptable” £5bn approach for its general insurance business. Shareholders are disgruntled at Aviva’s decision not to consult them before rejecting the offer for the group’s property and casualty operations in [...]
New EU rules set to boost reinsurance and securities issues August 12, 2010 New EU rules to boost insurers’ financial strength will spur more issues of securities tied to natural disasters and peak mortality risks as the sector moves onto even safer footing, Swiss Re said yesterday. The world’s second-biggest reinsurer and other industry experts expect the Solvency II capital regulations – set to take effect in 2013 [...]
Bruce eyes up loan bid for frustrated keeper Hart August 4, 2010 SUNDERLAND are leading the race to sign goalkeeper Joe Hart on loan from Manchester City. Black Cats boss Steve Bruce is on the lookout for a temporary replacement for the injured Craig Gordon and has confirmed he has made an approach for the highly-rated England keeper. “We’ve asked the question of City and we now [...]
CITY SAILORS ARE BUSY BOBBING AROUND DOWN AT COWES WEEK August 2, 2010 ALL aboard, folks – Cowes Week is here again, which means days of sailing and schmoozing in the Isle of Wight for the water babies of the City. And with a few days already elapsed, I hear there’s only one subject on people’s lips: the smart array of boats in the “super zero” class and [...]
NEW METRO BANK LURES IN CANDY BROTHERS July 29, 2010 OFF to the preview party for Metro Bank’s new Holborn store on Wednesday evening, where anyone who was anyone gathered to drink champagne under the gaudy red-and-blue rafters and gush about the wonders of sugar-coated customer service. Attendees included Meredith Whitney, the glamorous US banking analyst; Jamie Reuben, son of property magnate David; US investor [...]
Cecil’s Lord Shanakill is up for the Cup in Glorious Goodwood opener July 27, 2010 LORD SHANAKILL shocked well-backed favourite Dalghar to win the Betfair Cup – the big race on the opening day of Glorious Goodwood. Ridden by Tom Queally, the 13-2 shot reeled in the French raider inside the final two furlongs to add to his morale-boosting victory in Listed company at Chester earlier this month. “He’s a [...]
It pays to get your hands on the title deeds July 22, 2010 MORE London leaseholders than ever are taking advantage of their right to freehold enfranchisement – that is, the right to buy the freehold of their property – before the lease length drops below 80 years. “80 years is a magic number and not many people realise that,” says Katie Cohen of Jaffe Porter Crossick, a [...]