THE LONDON REPORT November 30, 2009 BRITAIN’S leading share index shed 1.1 per cent yesterday, ending at session lows, dragged back by weakness in oil majors and banks on lingering anxiety over the impact of Dubai’s debt problems. By the close, the FTSE 100 was down 55.05 points at 5,190.68, its lowest closing level for three weeks. The blue chip index [...]
Aviva unveils new UK chief November 26, 2009 INSURER Aviva has announced a shake-up of its business with a new boss and management structure. The move will see its UK Life and Pensions unit come under the leadership of new chief executive Mark Hodges. Under the restructure, which will take effect on 1 January, a series of other executive changes will also be [...]
CITY MOVES WHO’S SWITCHING JOBS November 26, 2009 PZ CussonsThe personal care firm has appointed Richard Harvey, the former chief executive of insurance giant Aviva, as its new chairman-elect. Harvey became group chief executive of Norwich Union in 1998 and took up his role at Aviva after the merger of Norwich Union with CGU, initiating the re-branding of the group under the Aviva [...]
ING insurance tempts buyers November 11, 2009 JAN Hommen, the chief executive of Dutch bancassurer ING, said yesterday that the group’s insurance division has received strong interest from potential buyers, after it was last month forced to carve up its empire to pay the price for its taxpayer bailout at the height of the crisis. Hommen said he would have to use [...]
Insurers call for rethink on capital limits November 11, 2009 INSURERS yesterday called on European regulators to widen their rethink on draconian capital restrictions proposed under the Solvency II reforms. The Association of British Insurers (ABI) welcomed indications that Europe was open to relaxing some rules for annuity providers that could potentially cost UK insurers up to £50bn a year if implemented in their current [...]
City discrimination claims surge as recession bites November 4, 2009 SEX and the City. Why is it that the phrase slips so easily off the tongue? Long before Candace Bushnell wrote her tales of single women in New York, the words were a regular feature in newspapers, frequently entwined like so many bonking bankers. As Aviva boss Andrew Moss tries hard to shift the focus [...]
SHOULD AVIVA BE CONCERNED BY FALLING SALES OR CONTINUE TO FOCUS ON INCREASING PROFIT MARGINS? November 4, 2009 DUNCAN HALL FINNCAP“Pursuing profit margins over growth in volume is the right strategy at this moment when it’s all about good management and tight cost control. In the current environment there probably isn’t that much volume out there, so why try to chase it?” BARRIE CORNES PANMURE GORDON“Although new business sales were shy of expectations, [...]
Adidas looks to 2010 for a sales upturn November 4, 2009 SEX and the City. Why is it that the phrase slips so easily off the tongue? Long before Candace Bushnell wrote her tales of single women in New York, the words were a regular feature in newspapers, frequently entwined like so many bonking bankers. As Aviva boss Andrew Moss tries hard to shift the focus [...]
Aviva talks up outlook as sales slide in third quarter November 4, 2009 AVIVA became the second insurer in as many days to talk up the profit outlook despite revealing a sharp slide in sales in the third quarter, led by a 25 per cent dive in UK life and pensions. The slump in the UK, where sales fell to £6.66bn from £8.84bn in the third quarter, weighed [...]
THE LONDON REPORT November 4, 2009 LONDON’S leading shares ended 1.4 per cent higher yesterday, boosted by a rebound from miners and banks, with retailers Next and Marks & Spencer also higher after posting forecast-beating figures. At the close, the FTSE 100 was up 70.68 points at 5,107.89, recouping all of Tuesday’s losses when the index fell 1.3 per cent to [...]