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 [...]
Rodney Cook interview: Just Retirement rides out annuity storm September 18, 2014 In February this year, crisis management experts visited Just Retirement’s Surrey head office to give senior executives a crash course in coping with the unexpected. Managers didn’t have to wait long to put that advice to use. When George Osborne announced sweeping changes to pension arrangements within the March Budget, allowing retirees to withdraw their [...]
From chips to telecoms innovation is the key September 17, 2014 INNOVATIVE COMPANY of the year City A.M.’s Innovative Company of the Year category salutes businesses that are frontrunners in their industry, from micro-chips to car service apps. With London being one of the leading hubs in Europe – if not the world – of innovative technology, our judges have had a hard time choosing a [...]
Quindell investors hold strong as £30m joint venture breaks up September 2, 2014 QUINDELL, the Aim-listed insurance firm whose stock price was ravaged by a short-seller attack earlier this year, saw its shares rally nearly six per cent yesterday after it announced it was buying out the RAC’s stake in its Connected Car Solutions (CCS) joint venture. Quindell said it would take full control of CCS, which makes [...]
Quindell share price opens down but rallies with RAC black box buy September 2, 2014 Quindell’s shares opened five per cent down this morning but then rallied six per cent on yesterday’s close after the company announced it was buying the RAC’s stake in joint venture CCS. Quindell said it will take full control of Connected Car Solutions, which makes “black boxes” for cars, in a restructure costing £18.5m, but [...]
Quindell buys out RAC partner September 1, 2014 QUINDELL is poised to announce today that it is buying the RAC’s stake in a joint venture for black boxes in cars. The London-listed insurance claims processor, whose shares have slumped this year after criticism about its business model, will inform the stock market today that it is to take full control of Connected Car [...]
RAC drives on with Rake amid flotation boom August 31, 2014 RAC has appointed CBI president Sir Michael Rake as its chairman today, as the major UK roadside breakdown recovery and car insurance firm considers whether to go ahead with a potential float this month, with the possibility of a retail offering. Rake has a wealth of board experience, also currently serving as chairman of major [...]