‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Call to end referral fees July 4, 2011 Credit rating agency Moody’s yesterday urged UK motor insurers to follow AXA UK’s lead and stop taking referral fees from car injury claims. Moody’s said it believes AXA’s stance on referral fees was good for the industry and increased pressure on its peers to follow suit. The fees have led to a surge in personal [...]
Businesses must back our campaign June 28, 2011 BRITAIN faces a huge challenge. Innumeracy and financial illiteracy are rife in this country, in an appalling indictment of years of failed educational policies. Tragically, millions of people are unable to grasp fully even the most basic of financial products, such as mortgages or savings accounts. In an era when self-reliance and financial independence are [...]
AXA bans use of referral fees June 28, 2011 AXA UK yesterday banned the practice of accepting referral fees from personal injury lawyers when its customers contacted them after an accident. AXA UK, the subsidiary of the French insurance giant, said it never sold customer details to claims firms but would stop accepting any fees from accident management firms and called for all UK [...]
INSURANCE COMPANY OF THE YEAR | The Shortlist day eight June 28, 2011 Insurance companies have endured an exceptionally costly year so far thanks to a bitter winter in Europe and devastating earthquakes in New Zealand and Japan. Insured losses in the first quarter alone are at a record level, testing the discipline of firms’ risk management. As the largest insurance hub in Europe, the City’s insurers play [...]
ING puts car leasing business up for sale June 20, 2011 Dutch financial services group ING said it has put its car leasing business up for sale, in a deal Dutch media reported may be worth 4 billion euros (£3.5bn). ING is in the throes of a huge restructuring, forced on it as a condition of its 10-billion-euros state bailout in the 2008 financial crisis. It [...]
Sainsbury’s car insurance tie-up June 5, 2011 SAINSBURY’S Finance is planning to launch a new reward scheme for shoppers, aimed at tapping the car insurance market. The scheme, underwritten by RBS Insurance, will see Sainsbury’s Nectar card users receive a discount of up to 15 per cent on car insurance premiums. Shoppers will also get double loyalty points on purchases in-store for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 22, 2011 FINANCIAL TIMES BAIN PULLS OUT OF RAC AUCTION Bain Capital has pulled out of the bidding for RAC, the roadside rescue business of UK insurer Aviva. The US private equity group last week dropped out of the auction after bidding less than its rivals, people close to the situation said. That leaves Carlyle, Clayton Dubilier [...]
Aviva enjoys UK sales jump May 17, 2011 GROWTH in UK home and motor insurance boosted Aviva in the first three months of the year, offsetting a sluggish performance in its life division, the company said yesterday. Aviva, the UK’s second-biggest insurer, saw global non-life insurance premiums rise nine per cent to £2.7bn in the quarter, compared with the same period in 2010, [...]
AIR predicts US storm losses May 9, 2011 Insured losses from the tornadoes that devastated the US south last month are likely to reach between $3.7bn (£2.3bn) and $5.5bn, risk modelling consultancy AIR Worldwide said yesterday. The windstorms have killed an estimated 354 people to date in seven US states. The loss will be predominantly from destruction of both residential and commercial property, [...]
Admiral revenues up 50pc in first-quarter May 6, 2011 Admiral Group revenues rose by more than 50 per cent in their first quarter. The car insurer, and owner of Confused.com, said year-on-year turnover also grew by 56 per cent to £539m in the first three months of the year. Shares were pushed to 4.4 per cent thanks to higher premiums and more customers, they [...]