After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Pet insurance claims hit record numbers, according to figures from the Association of British Insurers, with just short of one million claims being made in 2015 March 29, 2016 Pet insurance claims hit a record high in 2015, according to figures released today by the Association of British Insurers (ABI). The number of insurance claims made reached 911,000, up nine per cent compared with 2014, while their value clocked in at £657m, which is the equivalent of £1.8m a day. The average pet insurance premium came in [...]
What Storm Katie? FTSE 100 opens higher as insurers Prudential, RSA and Standard Life rise March 29, 2016 The FTSE 100 was 0.5 per cent higher in mid-morning, at 6,136.6 points, as insurers led the index higher – despite the UK taking a battering from Storm Katie over the weekend. Prudential led the risers, up 2.3 per cent at 1,305p – while RSA Insurance rose 1.9 per cent to 476p, and Standard Life was up [...]
Negative interest rates spark 2016 gold rush – but can German buyers push prices even higher? March 29, 2016 Almost a quarter of world GDP lies in economies whose central banks now have negative interest rates of some form. This experimental policy – used variously to weaken strengthening currencies and attempt to stimulate growth – has its fans, but investors have not been among them. “There’s a sense that central banks are running out [...]
Many UK businesses face a perfect storm, as uncertainty over a potential Brexit, a slowdown in China and the introduction of National Living Wage looms March 29, 2016 It's not just the bank holiday's miserable weather that looked bleak, with many of the country's key employers predicting grey skies ahead as a perfect storm of economic uncertainty brews. According to a report out today by the Confederation of British Industry (CBI) and PwC, optimism among financial services firms is falling at its fastest pace [...]
Insurers predict they will need to cut costs over the next few months as competitors with a technology focus creep into their market place March 29, 2016 General insurers expect to see their profitability sink over the next three months, despite also predicting a rise in premiums, a study out today has found. The survey by the Confederation of British Industry (CBI) and PwC discovered that insurers, particularly those dealing with general insurance, are increasingly worried about competition from startup InsurTech companies and are [...]
Battle for Starwood Hotels & Resorts heats up after China’s Anbang outbids Marriott with $14bn offer March 28, 2016 Starwood Hotels & Resorts Worldwide said it has received a higher $14bn offer from a consortium led by China's Anbang Insurance, in a move that could scupper Marriott International's proposed merger with the hotel group. The US-listed company behind brands including W Hotels, Le Meridien and Sheraton, said that the Anbang group, which includes private equity firms JC Flowers and Primavera Capita, [...]
UK pensions: Nearly one year on from the introduction of the pension freedoms rules, annuities remain popular March 28, 2016 Nearly one year on from the introduction of rules designed to revamp the pensions system, annuity sales have bounced back, research out today has found. The study by the Association of British Insurers (ABI) discovered that 21,200 annuity plans, worth £1.1bn, were purchased during the fourth quarter of 2015, while 61,700 annuities, worth £3.3bn, have been bought [...]
RSA Insurance Group chief executive Stephen Hester takes home £2.5m as key management bonuses grow 66 per cent March 24, 2016 The chief executive of RSA Group raked in £2.5m in 2015, up from £2.2m he brought in the previous year after joining the insurance heavyweight in February 2014. Stephen Hester took home a bonus of £1.2m, 76.5 per cent of the maximum, after the group reported a pre-tax profit up 17 per cent at £323m in 2015. Operating profits [...]
London house prices: Solving the capital’s housing crisis needs more than just cynical promises from mayoral hopefuls March 24, 2016 Tottenham’s resurgence near the top of the Premier League seems to have dovetailed with its housing market, which has shot up 10 per cent in a year. Massive investment across north east London from long term investors such as Grainger, Argent and Legal & General is transforming the area, with a high focus on build to rent. Crucially, many [...]