Insurance megadeals driving surge in M&A deal value November 14, 2017 An increase in the number of insurance megadeals drove a surge in the total value of mergers and acquisitions (M&A) activity, according to data to be published today. Total deal value rose by 170 per cent between the first half of 2016 and the first half of 2017, a survey by Willis Towers Watson and [...]
DEBATE: Was the tribunal right to rule that Uber drivers are workers, not self-employed? November 14, 2017 DEBATE: Was the tribunal right to rule that Uber drivers are workers, not self-employed? YES – Frank Field, Labour MP for Birkenhead. The appeal tribunal must have been trying hard not to laugh Uber out of the room last week. The idea that the company engages on level terms with tens of thousands of independent [...]
Sabre insurance reveals plans for £213m float with boss saying: “It’s not all young drivers in hot hatches” November 13, 2017 Quirky British car insurer Sabre today announced plans to raise £213m from a London stock market listing. The move will enable private equity firm BC Partners to realise part of its investment into the Dorking-based firm. BC, which paid £240m in 2013 for the firm, will retain a “significant stake” in Sabre post-float. Sabre specialises [...]
One year of President Trump: the impact on markets November 10, 2017 President Trump has credited himself for the rise in the stockmarket since he won the US election 12 months ago. It is not fake news. Demand for equities has been strong because it is hoped the Trump administration will pass legislation reducing tax for companies, which should boost their profitability. Since the election on 8 [...]
The jobs, they are a changin’: What’s happening to the finance industry? November 10, 2017 No matter where your career stands, you can always count on one thing—the investment industry is constantly changing. Worldwide trends are converging to transform the prospects for investment professionals. Consolidation among firms is leading to cuts. Fintech is disrupting the industry. The global talent market is evolving in different ways from region to region. Experts [...]
Lords demand the chancellor agrees a “post-Brexit standstill” for financial services November 9, 2017 A Lords committee has written to Philip Hammond demanding he seek a post-Brexit “standstill transition period” for the financial services sector. In the letter the chair of the EU financial affairs sub committee chair Baroness Falkner said it was clear the sector required a period in which the status quo was maintained after numerous hearings [...]
Lloyd’s of London firm Beazley ups catastrophe profit hit to $175m November 9, 2017 Lloyd’s of London insurer Beazley today took a fresh $25m (£19m) catastrophe hit after upping its losses to $175m following a freak year of natural disasters. The insurer said it needed to increase provisions for additional claims following the recent California wildfires. Insured losses would be between $200-300m, net of reinsurance, from natural catastrophes in [...]
The number of smaller businesses in the UK has shot up: Here are the top-growing sectors November 9, 2017 The number of small and medium-sized enterprises (SMEs) in the UK has grown by almost a quarter over the past five years, new research from Hampshire Trust Bank and the Centre for Economics and Business Research (CEBR) has revealed. The office administration and business sector led the way, as the number of SMEs operating in [...]
Financial Conduct Authority launches review into competitiveness of London’s £68bn insurance broker market November 8, 2017 Financial regulators are to probe whether the City’s prized insurance broker network is delivering value for money amid concerns it is skewed towards larger players, allowing them to squirrel away bigger profits. The Financial Conduct Authority (FCA) wants to know whether London’s £68bn insurance market is fostering sufficient innovation and competition and today launched a [...]
Esure share price rises after posting “record quarter” and netting Sir Peter Wood a multi-million pound paper profit November 8, 2017 Esure today posted “record quarter” results driving shares up and netting the firm’s founder a multi-million pound payday. The insurer also upped its full-year guidance as analysts pointed to the success of key strategic changes. Shares in the FTSE 250 firm rose almost four per cent in trading, meaning insurance tycoon Sir Peter Wood – [...]