Aviva CEO Maurice Tulloch steps down with immediate effect for ‘family health reasons’ July 6, 2020 Aviva chief executive Maurice Tulloch has stepped down from the role with immediate effect for “family health reasons”, the insurance giant said today. Non-executive director Amanda Blanc will take on the CEO role from today, Aviva said, after joining the board at the start of the year. She was previously CEO, EMEA & Global Banking [...]
Lloyd’s of London: ‘Much more’ insurers can do to help Covid-struck SMEs July 1, 2020 The insurance industry must do more to help SMEs recover from the impact of the coronavirus pandemic and better prepare for catastrophic events in the future, according to a new report by Lloyd’s. The report outlines three possible new open-source solutions and frameworks designed to cover risks businesses could encounter in the so-called “new normal” [...]
How global markets will cope with a second wave June 13, 2020 Fears of a second wave of coronavirus have stubbed out hopes of swift economic recovery around the world, as the possibility of further lockdowns hangs heavy on global markets. While many countries seem to have a grip on the coronavirus crisis, the prospect of new infections in the US hinted in Wednesday’s Federal Reserve meeting [...]
Coronavirus: Top insurance firms could lose $100bn in brand value May 11, 2020 The world’s top 100 most valuable insurance brands could lose as much as $100bn (£81bn) in brand value as a result of the Covid-19 crisis, a new report has revealed. The insurance sector is set to be one of the most severely affected industries and faces a potential 20 per cent loss in brand value, [...]
Gresham House acquires Trade Risks amid strong 2019 performance March 5, 2020 Gresham House announced the acquisition of Trade Risks as it reported a double digit rise in its assets under management. The figures Gresham House reported a 23 per cent increase in assets under management from £2.3bn to £2.8bn. Total income rose 124 per cent from £14.7m to £32.9m, while adjusted operating profit rose 237 per [...]
WPP shares crash as fourth quarter revenue stalls February 27, 2020 Shares in WPP crashed 15 per cent in early trading after the advertising giant failed to deliver growth in the fourth quarter. The figures Like-for-like revenue less pass through costs fell 1.6 per cent to £10.8bn for the full year. Profit before tax dropped 21.9 per cent to £982m. Net debt was slimmed down from [...]
European stocks hit record high as Iran tensions subside January 9, 2020 European stocks nudged up to a record high this afternoon as investors reacted to a waning in Middle East tensions and renewed hopes of a US-China trade deal. The pan-European Stoxx 600 index rose as much as 0.7 per cent to hit 421.43, before easing back to just under 420. Read more: Donald Trump says [...]
Longboat Energy IPO raises £10m in London debut November 26, 2019 Longboat Energy, a new North Sea oil company, today announced it had raised £10m in its initial public offering on London’s AIM. The company, which is led by the former leadership of Faroe Petroleum, priced the offering at 100p per share. Read more: China’s Sdic power to list in London for up to £640m Blue-chips [...]
City Moves for 17 October – Who’s switching jobs at Lasalle, Infracapital and Natixis? October 17, 2019 Today’s City Moves includes Lasalle, Infracapital and Natixis Lasalle Lasalle Investment Management has appointed Richard Craddock as managing director of its whole loans division, which launched earlier this year with €600m (£517m) of initial commitments and invests in whole loans across western Europe, with an initial focus on France, Benelux, Iberia, and Ireland. Richard has [...]
Asset Management Exchange announces new $1bn credit fund September 17, 2019 The Asset Management Exchange (AMX) investment platform has announced a new $1bn fund designed to deliver predictable cash flows with lower transaction costs. The Long Term Credit Fund will be run by AXA Investment Managers using a ‘buy and maintain’ credit strategy to build “a well-diversified, benchmark-agnostic, long-dated credit portfolio”, AMX said. Read more: Gresham [...]