Competition watchdogs kicks off inquiry into Aviva acquisition of AIG Life February 8, 2024 The Competition and Market Authority (CMA) has launched a merger inquiry into the acquisition of AIG Life by Aviva. It was announced last September that Aviva was acquiring the US giant protection business from its subsidiary Corebridge Financial for a quoted price of £460m. The business Aviva is buying provides has 1.3m individual protection customers [...]
Still “jeopardy” over CBI future, but new prez Rupert Soames says firms are re-engaging February 7, 2024 The new boss of the Confederation of British Industry (CBI) revealed that there is still some doubt as to whether the business lobby group can survive the scandal. Speaking to the BBC, the CBI’s new president Rupert Soames admitted that the organisation has to refinance its bank debt in autumn of this year. He explained [...]
Working group launches code of conduct for insurance market when using AI January 31, 2024 A collaboration between 127 experts, including the former UK COO of Aviva, has resulted in the creation of a code of conduct for the insurance industry for using AI. This initiative aims to establish and uphold “the highest standards of behaviour and ethical responsibility” when planning, designing, or utilising AI in the management and settlement [...]
Banks lead UK firms in dividend payments after HSBC dishes out £8.4bn January 25, 2024 Banks led UK firms in dividend payments last year for the first time since the financial crisis, according to new research, on the back of interest rate hikes.
Aviva, L&G and top Tory MP piles pressure on Chancellor to open up share schemes January 24, 2024 Sir Graham Brady and some of Britain’s biggest firms, including Aviva and BAE Systems, are piling pressure on the chancellor to overhaul so-called share incentive plans and unlock a “new wave of employee share ownership”, City A.M. can reveal.
FTSE 100 more than a century away from CEO gender balance, study says January 22, 2024 The UK is more than a century away from achieving parity between male and female FTSE 100 chiefs, according to new research, as Britain lags behind its international peers. Using current appointment trends across 12 stock indexes, advisory firm Russell Reynolds Associates projected it would take 81 years to reach global gender parity among top [...]
The activists are coming: Why London-listed firms are worrying about more than just takeovers January 22, 2024 Activist investors are gearing up for an offensive in London, and boardrooms across the City are scrambling to shore up their defences.
Financial services still ‘old boys’ club’ where women ‘risk careers’ to report sexual harassment, MPs told January 17, 2024 Dozens of women have told MPs that the City's financial services sector remains an "old boys club" with inadequate systems for reporting sexual harassment, as part of the Treasury watchdog's investigation into sexism in the Square Mile.
City falls behind Europe as female appointments to top jobs slips dramatically January 15, 2024 City firms are facing calls for faster action on gender diversity after new figures showed the UK had slumped well behind European peers in appointing women to senior roles.
Sunak in Ukraine to unveil fresh £2.5bn package for Putin fight January 12, 2024 The prime minister was pictured on a train travelling through the war-torn country, as he went to meet its embattled leader Volodymyr Zelensky.