FTSE closes higher, fuelled by energy stocks and BP Gulf oil spill response May 27, 2010 BRITAIN’S top shares rose 3.1 per cent yesterday to hit a one-week high, with oil stocks the standout gainers led by BP as it was making progress in plugging a well which has been leaking in the Gulf of Mexico for five weeks. The FTSE 100 index closed up 157.09 points at 5,195.17, its highest [...]
CITY MOVES | WHO’S SWITCHING JOBS May 24, 2010 Matrix Group Matrix Group has expanded its investment banking business after appointing Paul James as chief operating officer (COO) of the investment banking arm. James moves into the role with immediate effect and joins after 20 years experience in investment banking. He was most recently COO of global banking and markets HSBC and has previously [...]
CITY VIEWS: DO YOU THINK THE RISK OF DEBT CONTAGION IS A REALITY? May 13, 2010 SIAN THOMAS | AVIVA “The contagion is likely to spread because most of Europe is dominated by one currency. Naturally this can be offset by addressing the problem with the necessary measures, but you hope the situation isn’t severe enough that it will affect other countries.” BILL COX | CAPAX GLOBAL “The situation in Greece [...]
Life products boost insurers May 12, 2010 EUROPEAN insurers were yesterday buoyed by strong sales of life insurance and asset management products on the back of a reviving economy in the first quarter, offsetting big disaster damage claims. Germany’s Allianz, Italy’s Assicurazioni Generali, the Netherlands’ Aegon and Belgium’s Ageas, formerly known as Fortis, all reported strong first quarters as consumers’ fears began [...]
Aviva triumphs in first quarter May 11, 2010 INSURER Aviva underlined its commitment to the UK and Europe as its first quarter life and pensions sales numbers beat City forecasts yesterday, slipping just five per cent. Investors’ returning appetite for risk, which in recent weeks has also buoyed rivals Standard Life and Legal & General, helped Aviva bring in £9.1bn in new life [...]
Aviva sales drop as US market falls away May 11, 2010 AVIVA suffered a five per cent drop in life and pensions sales in the first quarter – but the results were above analysts’ forecasts The figures showed that a recovery in the domestic insurance market was offset by a sales of 18 per cent in the struggling US market. Llfe and pensions sales in the [...]
CITY MOVES | WHO’S SWITCHING JOBS May 10, 2010 Conduit Capital Markets The derivatives and securities dealer has hired ex-3i managing partner Bruce Carnegie-Brown as its new non-executive chairman. Carnegie-Brown has been working for 3i since 2007, latterly as managing partner and chairman of the financial services practice. Prior to that, he was chief executive of Marsh, and spent 18 years at JP Morgan, [...]
Banks boost FTSE after Euro bailout May 10, 2010 BRITAIN’S leading share index scored its biggest one-day per cent rise in nearly 18 months yesterday as the $1 trillion (£645bn) Eurozone rescue package doused concerns of EU debt defaults and further economic dislocation. Bank stocks, which plunged last week on their exposure to debts of Greece and other EU states, led the advance as [...]
Aviva sees sales drop by 11pc May 9, 2010 AVIVA will tomorrow reveal an 11 per cent drop in first quarter life and pensions sales, according to analysts, against the flow of gradual improvement reported by other insurers. The City’s consensus forecast is £8.5bn for the first three months of 2010, down from £9.6bn at the start of 2009. The fall contrasts with new [...]
Cowdery may tap investors May 6, 2010 INSURANCE consolidation vehicle Resolution said its shareholders were ready to stump up £3bn to fund another acquisition as it released its first quarter numbers yesterday. Founder Clive Cowdery’s team held a round of meetings with major investors including Aviva and Legal & General in March, at which they reaffirmed their willingness to put up three [...]