“Alexa, what’s an annuity?” Insurance company Aviva is using Amazon Echo January 4, 2017 "Alexa, what's an annuity?" Now your Amazon Echo can tell you the answer to burning questions about insurance and guide you through the unfamiliar jargon of the industry. The Insurance giant Aviva has developed a so-called skill (like an app for smartphones) for the voice activated speaker which proved a big hit for Amazon over Christmas. Read more: [...]
Natural disaster insurance payouts double after highest losses for four years January 4, 2017 Devastating earthquakes and powerful storms meant insurance firms forked out $50bn (£41bn) to settle disaster claims in 2016. The settlements were almost double the $27bn paid by insurers in 2015, according to an annual review by reinsurance behemoth Munich Re. Globally, an average of just 30 per cent of losses were covered by insurers meaning total losses for [...]
Resolutions for your money: Experts give their personal finance tips for 2017 January 4, 2017 After the gift giving, sales shopping and other excesses of the festive season, many of us aspire to start the New Year with tighter belts. According to research by Masthaven, 78 per cent of Brits intend to save over the next 12 months, with 34 per cent of them planning to squirrel away more than they [...]
Trump adviser: Special relationship will be stronger after Brexit January 4, 2017 One of the leading candidates to serve as the US' new ambassador to the EU has claimed that ties between the Us and the UK will be boosted in the aftermath of Brexit. Dr Ted Malloch is meeting with President-elect Donald Trump to discuss the role this week, having supported the Republican throughout his election [...]
Wealth manager drafts in TSB chairman to drive future business growth January 3, 2017 One of the key players who oversaw the TSB split from Lloyds Bank will take over as chairman of a City wealth manager with over 150 years of history. Will Samuel will add the role at Tilney Bestinvest to the same position he holds at TSB. Outgoing chair Mike Covell hailed the appointment after six years in the [...]
L&G completes the sale of Cofunds’ investment platform to Aegon January 3, 2017 Life insurer Aegon has completed the acquisition of investment platform Cofunds from Legal and General. L&G and Aegon first announced a £140m deal in August last year, and have today confirmed completion of the transaction. It means Aegon becomes the UK's largest platform provider, with more than three million customers. L&G only bought the business in [...]
Household bills jumped almost £200 in 2016 as fall in sterling and added taxes took their toll January 2, 2017 Household bills leapt around 10 per cent last year, costing Britons almost £200 more than in 2015, according to price comparison site Compare the Market. The combined cost of energy, motor and home insurance rose to £2,223 in 2016, compared to £2,032 the year before. Sharp hikes were registered in motor and household energy premiums, [...]
Axa reveals the cost of Bluefin’s sale to Marsh & McLennan January 2, 2017 Axa will take a €82m (£70m) hit from its £295m sale of UK small business insurance broker Bluefin to US giant Marsh & McLennan. The sale, previously announced in November and referred to by Marsh's boss as "very much a post-Brexit deal", completed today. The move by the French insurer followed the £395m sale of its SunLife [...]
Arise, Dame Inga: Lloyd’s of London boss Inga Beale has been awarded a damehood in the Queen’s New Year’s Honours list December 30, 2016 Lloyd's of London boss Inga Beale has been awarded a damehood as part of the Queen's New Year's Honours list. Beale, who was appointed chief executive of Lloyd's of London in January 2014 and is a vocal LGBT rights campaigner, was awarded her damehood for services to the economy. She was included in City A.M.'s Power [...]
An ageing population, robots taking jobs and increasing inequality: The 10 biggest dilemmas facing the UK in 2030 December 29, 2016 It's not even 2017 yet, but think tank the IPPR has turned its attentions to the year 2030, to work out what challenges the UK will be facing by then. The resulting report, Future Proof, suggests we'll be grappling with an ageing population, increased automation of jobs – and increasing inequality. But what will be the [...]