FTSE rises after Glaxo sets out recovery plan – London Report October 22, 2014 BRITAIN’S top share index yesterday ended higher, with motor insurers advancing on news of an increase in car premiums and drugmaker GlaxoSmithKline rising after its results. The FTSE 100 finished 0.4 per cent higher at 6,399.73 points. It had fallen more than 10 per cent in four weeks before making a marginal recovery since late [...]
Quindell sees shares soar on contract news October 21, 2014 INSURANCE outsourcer Quindell yesterday saw its share price soar 8.4 per cent, on the back of the news that it had secured a five-year contract with an unnamed “major insurer”. The deal will see Quindell provide telematics technology, devices and associated services to the Canadian top-three business, which has more than three million customers, 1,700 [...]
Car insurance price decline is over, says AA October 21, 2014 CAR INSURANCE premiums rose in the third quarter of 2014 for the first time since 2012, according to the latest AA British Insurance Premium Index. The index revealed that the Shoparound average quote for a comprehensive car insurance, which is an average of the five cheapest premiums found for a nationwide basket of “customers”, increased by [...]
Quindell share price soars after securing major contract October 21, 2014 Insurance outsourcer Quindell's share price has soared 8.4 per cent today, on the back of the news that it has secured a five-year contract with an unnamed “major insurer”. The deal will see Quindell provide telematics technology, devices and associated services to the Canadian top-three business, which has more than three million customers, 1,700 [...]
MoneySuperMarket invites customers to crush a car in latest stunt October 7, 2014 As far as publicity stunts go, MoneySuperMarket is getting a raft of attention at the moment with its Epic Car Insurance Car Crusher. The price comparison site is offering customers a chance to crush a real car with a giant metallic claw. The gigantic 6,000kg robotic hand crusher is available for 48 hours, until 9pm [...]
£430m sale by Direct Line to boost investors September 25, 2014 INSURANCE group Direct Line announced yesterday it had agreed to sell its international division to major Spanish insurance firm Mapfre for €550m (£430.5m) FTSE 100-listed Direct Line said the sale of its international division, comprising its German and Italian businesses, would lead to a pre-tax gain of around £160m from the sale. Direct Line said [...]
Motor insurance shake-up drives mixed reviews September 24, 2014 THE UK motor insurance sector is in for a major shake up after the Competition and Markets Authority (CMA) yesterday revealed a range of measures to promote competition. The CMA proposals included a ban on exclusivity deals between car insurance firms and price comparison websites, preventing the firms from offering lower prices elsewhere. However, while this [...]
Insurers and price comparison sites face shake up after car insurance market investigation September 24, 2014 Insurers are facing sweeping changes to the way car insurance is sold after a two-year investigation by the competition watchdog. Measures such as banning agreements between insurers and price comparison websites, and increased scrutiny of how add-ons to car insurance policies are sold to customers have been recommended by the Competition and Markets Authority. The [...]
AA executive chairman Bob Mackenzie: From fly rods to flywheels September 23, 2014 When father-of-five Bob Mackenzie isn’t using his spare time to watch his children’s various sporting fixtures, he likes to relax with a fly-fishing rod. “We had a quiet period in August last year when we were looking at buying the business so I spent a month fishing,” he says. “I fish on the River Test [...]
First AA results set the scene for autumn listings September 21, 2014 LEADING British car insurance and roadside recovery firm AA is set to release the first set of results this week since its float, as a range of other firms are believed to be gearing up for IPOs in the months ahead. AA floated on 23 June at a value of £1.4bn and has since seen [...]