Hurricane Florence weakens but insurance firms still braced for billion dollar losses September 13, 2018 Hurricane Florence has been downgraded but the “life-threatening” storm set to hit the US east coast later today could cost the insurance industry up to $20bn . More than a million people, as well as businesses have begun evacuation from the coastline as the storm prepares to devastate North and South Carolina. At least 800 [...]
Hurricane Florence weakens but insurance firms still braced for billion dollar losses September 13, 2018 Hurricane Florence has been downgraded but the “life-threatening” storm set to hit the US east coast later today could cost the insurance industry up to $20bn . More than a million people, as well as businesses have begun evacuation from the coastline as the storm prepares to devastate North and South Carolina. At least 800 [...]
British Airways pension scheme strikes landmark £4.4bn deal with L&G September 13, 2018 British Airways (BA) has this morning struck a bumper deal to insure £4.4bn worth of pension liabilities in its Airways Pension Scheme (APS). Insurer Legal & General will cover the enormous pension buy-in, which represents the largest ever so called bulk annuity transfer with a UK pension scheme. The contract will see L&G agree to [...]
British Airways pension scheme strikes landmark £4.4bn deal with L&G September 13, 2018 British Airways (BA) has this morning struck a bumper deal to insure £4.4bn worth of pension liabilities in its Airways Pension Scheme (APS). Insurer Legal & General will cover the enormous pension buy-in, which represents the largest ever so called bulk annuity transfer with a UK pension scheme. The contract will see L&G agree to [...]
US insurance sector could take $20bn in losses from Hurricane Florence September 13, 2018 Hurricane Florence could cost the insurance industry more than $20bn (£15.33bn) as millions of people and businesses begin evacuating from the east coast of the US. The storm could hit North and South Carolina later today and cause devastation along the coastline. Catastrophe risk modelling company, Risk Management Solutions, said the category 4 storm could cause [...]
US insurance sector could take $20bn in losses from Hurricane Florence September 13, 2018 Hurricane Florence could cost the insurance industry more than $20bn (£15.33bn) as millions of people and businesses begin evacuating from the east coast of the US. The storm could hit North and South Carolina later today and cause devastation along the coastline. Catastrophe risk modelling company, Risk Management Solutions, said the category 4 storm could cause [...]
Carlyle Group to buy insurance service Sedgwick for £5.1bn September 12, 2018 Private equity firm The Carlyle Group has acquired US insurance claims service provider Sedgwick for $6.7bn (£5.1bn). Current majority shareholder KKR will exit the group and Stone Point Capital, CDPQ and Sedgwick management will remain minority shareholders when the deal coses later this year. Read more: Plastic packaging giant RPC confirms buyout talks with Apollo and Bain [...]
Carlyle Group to buy insurance service Sedgwick for £5.1bn September 12, 2018 Private equity firm The Carlyle Group has acquired US insurance claims service provider Sedgwick for $6.7bn (£5.1bn). Current majority shareholder KKR will exit the group and Stone Point Capital, CDPQ and Sedgwick management will remain minority shareholders when the deal coses later this year. Read more: Plastic packaging giant RPC confirms buyout talks with Apollo and Bain [...]
DEBATE: Should gig economy workers be given more rights and protections, as John McDonnell suggests? September 12, 2018 Should gig economy workers be given more rights and protections, as John McDonnell suggests? Brhmie Balaram, senior researcher in the RSA’s Economy, Enterprise and Manufacturing team, says YES. I imagine most people would agree with John McDonnell that it would be desirable to grant gig economy workers more rights. At the same time, they might [...]
The rise of Chinese finance puts pressure on London and New York as top financial centres September 12, 2018 London and New York remain the top two financial centres in the world but Asian cities are hot on their heels, according to an authoritative ranking to be published today. A major report from London-based think tank and consultancy Z/Yen will show the average ranking of financial centres in Asia and the Pacific region rose [...]