Rothermere passes final hurdle to taking Daily Mail private November 3, 2021 Daily Mail and General Trust (DMGT) and the Rothermeres have agreed a recommended cash offer worth 255p, along with a special dividend worth 991p a share. The Rothermere family announced in the summer that it was considering an £810m bid to take the group private, giving chairman Lord Rothermere full control of DMGT. This proposal [...]
Insurer LV= offers £100 to every member for £530m Bain Capital takeover November 3, 2021 British insurer LV= is offering its members £100 as a one-off payment, which will cost of a total of £111m, should takeover plans by private equity firm Bain Capital go ahead. Eligible members of LV= are scheduled to cast their vote on the proposed takeover deal, worth £530m, on Dec 10. Three quarters of votes [...]
Investing with impact November 2, 2021 Green catastrophe bonds aim to reinvent the world of impact investment by delivering a return for both the planet and investors. As delegates gather for this week’s Cop26 climate talks in Glasgow, here’s why professional services firm Aon are hoping green cat-bonds signal a new dawn for innovative finance… “Bond will save the world!” is [...]
Promoting ESG to align the insurance industry to new stakeholder demands November 2, 2021 The global re/insurance industry faces both asset and liability exposure to the climate crisis, as well as opportunities to drive meaningful progress towards global resilience. As a result, insurance and reinsurance are crucial elements in a successful and inclusive transition to a green economy, helping clients to implement ESG mandates, as well as focusing on [...]
Letters: Listen to them, not us November 2, 2021 [Re: Cop26, yesterday] Cop26 is considered “the world’s best last chance to get climate change under control.” In Glasgow yesterday, Boris Johnson said we were at “one minute to midnight” to save ourselves. He was one of dozens of world leaders taking the stage at the climate change conference. As an insurer we’ve already seen [...]
London market boosts insurer Hiscox November 2, 2021 Hiscox this morning said its gross premiums written for the first nine months of the year is up 6.1 per cent to to $3.46bn. Its London market did particularly well, with gross written premiums up 7.1 per cent. Huge weather events continue to play a large part in the global insurance and reinsurance market and [...]
BlackRock raises $673m for fund to invest in climate projects November 2, 2021 BlackRock has announced it has raised a target-beating $673m for an infrastructure fund to invest in climate-focused projects like renewable energy in emerging markets. The fund also has backing from the French, German and Japanese governments. The investment manager told Reuters it hoped the Climate Finance Partnership would show how to mobilize private capital in [...]
Q&A: How tech is shaking up the banking sector November 1, 2021 A technological revolution is occurring, which is affecting all business sectors. And the Covid-19 pandemic has been accelerating this process. Banking is one area that has been particularly disrupted by technology for some time, but it was during the pandemic that customers really started to change their banking habits. Banking over the counter in High Street branches is [...]
London markets climb as Staley steps aside after FCA Epstein probe November 1, 2021 London markets climbed during the opening session of November as Barclays chief Jes Staley stepped down after UK regulators showed the bank preliminary findings of its investigation into his ties with disgraced financier Jeffrey Epstein. The capital’s FTSE 100 premier index advanced 0.60 per cent to hit 7,280.97 points, while the mid-cap FTSE 250 climbed [...]
Can UK handle a rate rise as economy rebounds? November 1, 2021 The UK economy grew by 0.4% in the month of August after latest estimates showed GDP contracted in July by 0.1%. July was disrupted by a spike in infections and tougher restrictions on self-isolation and testing for anyone in contact with those testing positive for Covid-19. This was known as the “pingdemic”, referring to the [...]