RSA INS share price up despite ‘Beast from the East’ effect May 10, 2018 Insurer RSA said it suffered greater-than-expected weather losses in the first quarter due to harsh conditions in key markets such as the UK and Canada, but the market was undaunted with shares up by nearly three per cent this afternoon. The figures In its first quarter results announcement this morning RSA said that gross written [...]
Alpha insurance bankruptcy: London cabbies scrambling for alternative insurance after provider goes bust May 9, 2018 London cab drivers are scrambling to reinsure their cars after Danish insurance company Alpha went bust yesterday, invalidating their policies. Alpha, which insured numerous taxi drivers through brands such as Cover My Cab and Protector, filed for bankruptcy yesterday, immediately terminating all existing policies. Cab drivers reported receiving text messages today telling them that their [...]
Lloyd’s underwriter Hiscox bounces back from catastrophe-hit 2017 with strong first quarter results May 8, 2018 Insurance firm Hiscox announced a solid set of first quarter results this morning following a tough 2017 which was marked by a series of natural disasters. The Lloyd’s underwriter increased its gross written premiums by 24 per cent on a constant currency basis to $1.155bn (£855m), up from $929m in the same period last year. [...]
Sam Torrance: Jason Day is back to his unbeatable best in time for golf’s unofficial fifth Major May 7, 2018 When he is at his best, Jason Day is almost unbeatable. Following his victory at the Wells Fargo Championships on Sunday, his second win already this year on the PGA Tour, the Australian former world No1 looks back to that level. Day endured a difficult spell last year, with injury problems and the illness of [...]
Oreo and Cadbury owner Mondelez International acquires Tate’s Bake Shop May 7, 2018 International junk food giant Mondelez International announced an approximately $500m (£369.48m) deal to acquire Tate’s Bake Shop yesterday. Tate’s, an American cookie company famed for its thin cookies, will join the ranks of Oreo, Cadbury Dairy Milk and Trident under Mondelez’s umbrella. But the crispy cookie makers will continue as a standalone business and keep [...]
Form alliance with Switzerland, Hong Kong and Singapore to boost City after Brexit, Shanker Singham argues in new report May 4, 2018 The City should forge alliances with other major financial hubs to strengthen and boost its position in the post-Brexit world, a new report by influential trade wonk Shanker Singham argues. According to Singham and co-author Catherine McBride, both of whom left Legatum to join the Institute of Economic Affairs in March, the UK should use [...]
Esure motor policies motor as its home arm is battered by Emma and the Beast May 3, 2018 Esure today delivered a frosty blast to shareholders as the insurer took a multi-million pound hit from Britain’s prolonged winter. Home insurance gross written premiums fell six per cent to £19.8m. In-force home policies fell 13.4 per cent in the first three months of 2018, the Sheila’s Wheels owner said. “During the first quarter, the [...]
Direct Line share price falls after Beast from the East costs insurer its entire annual weather budget May 2, 2018 Direct Line today counted the cost of Britain’s icy winter and warned its top line had shrunk by five per cent in the first three months of 2018. Quarterly gross written premiums slumped from £810.3m to £769.9m. Direct Line operates its own and a host of other well-known brands, including Churchill, Privilege and Green Flag. [...]
Markets brace for the latest Bank of England interest rate decision May 1, 2018 Following a decade without so much as a hint of a rate rise, expectations are high for the UK’s second increase in just seven months. Most economists expect the Bank of England to raise the base rate to 0.75 per cent this month, up from the current 0.5 per cent. The UK’s economic picture is [...]
From good broadband to multiple bathrooms: 20 features that could sell your home in the UK May 1, 2018 Spring seems to have finally arrived in London, and with the weather warming up, so too is selling season. As Londoners consider the best way to sell their homes, insurance comparison website Gocompare Home Insurance has compiled a list that shows the top 20 features for UK home-buyers, including things like good broadband and more [...]