Comparison sites probed over claims of poor insurance coverage November 24, 2013 PRICE comparison websites could be failing to sell customers insurance that meets their needs, the Financial Conduct Authority (FCA) warned yesterday, launching a probe into the way the sites operate. The City watchdog is concerned that rankings of products by price on the sites may fail to explain to customers the details of the products [...]
What the other papers say this morning – 22 November 2013 November 21, 2013 FINANCIAL TIMES Independence could lose sterling Scotland will be forced to quit the sterling currency union if it votes for independence next year, a cabinet minister has said, in the starkest warning yet for Scottish voters to remain in the UK. Speaking to the Financial Times days before the Scottish government releases its vision for [...]
Esure adds policies as price war rumbles on November 13, 2013 INSURANCE group Esure yesterday said it has gained customers amid a car insurance price war and that is on track to hit full-year forecasts. The firm behind the Sheilas’ Wheels and Esure brands said gross written premiums were up 4.8 per cent in the year to date to £427m, though the pace slowed to 1.7 [...]
Admiral turnover reduced by weaker UK market November 11, 2013 Car insurance specialist Admiral Group has announce a seven per cent decline in turnover this morning to £528m in the third quarter to September. The firm remains on track to meet its expectations this year, with international car insurance turnover up 26 per cent on the same period last year. (Release) UK Car insurance turnover [...]
LV= expects motor insurance prices to rise in the new year October 28, 2013 INSURER LV= yesterday said it expects the cost of motor insurance to rise next year because new laws designed to reduce spurious claims have not had the desired effect. Mike Rogers, chief executive of the mutual, said some rivals had “over anticipated” the impact of the rules and cut car insurance premiums too much. “Looking towards [...]
US steps back from the brink October 16, 2013 Last-minute Senate deal allows America’s debt to keep growing REPUBLICAN politicians last night closed in on a last minute deal with their Democratic counterparts to extend the US debt limit and end the ongoing government shutdown in the world’s largest economy. The agreement was reached just hours before the country was due to hit the maximum $16.7 [...]
What the other papers say this morning – 09 October 2013 October 8, 2013 FINANCIAL TIMES Prosecutors give SAC ultimatum US prosecutors have given SAC Capital until November to resolve criminal charges against the hedge fund founded by Steven Cohen or risk paying more than the $1.8bn offer on the table, people familiar with the matter said. Lawyers for SAC Capital met representatives from the US attorney’s office in [...]
Goldman Sachs buys half of car insurer Hastings in £150m deal October 8, 2013 GOLDMAN Sachs’ merchant banking division yesterday bought half of British motor insurer Hastings in a deal that values the company at £700m. The Sussex-based insurer has previously made a point of handing shares to its staff, meaning thousands of employees are now set to enjoy a bumper payday. Goldman’s merchant banking arm will finance the [...]
Direct Line to sell closed life fund in £62m deal October 8, 2013 (Yahoo Finance) Britain's biggest car insurance company Direct Line has announced that it has agreed to sell the group's UK closed life insurance business, Direct Line Life Insurance (DLL), to Chesnara, an insurance-focused takeover specialist. (Release) Direct Line, whose brands include Churchill, Green Flag and Privilege, said today that total proceeds of the sale tally [...]
You can probably be replaced by a robot – and that’s really good news October 1, 2013 A new paper suggests that more jobs could eventually be done by robots that we previously thought. Not just simple tasks either. As many as 47 per cent of positions currently filled by humans could be done by a computerised workforce "over some unspecified number of years, perhaps a decade or two." Most likely to [...]