Moneysupermarket.com share price rises as price comparison company reveals boost in profits and revenues for year ended December 2015 March 1, 2016 Share price in Moneysupermarket.com closed up today after the company revealed a boost to both its profits and revenues in its preliminary results. The price comparison website announced adjusted operating profits for its year ended December 2015 of £100.1m, up 15 per cent from £87.3m the year before. Meanwhile, group revenue grew to £281.7m, up 14 per cent [...]
Jardine Lloyd Thompson Group (JLT) share price rises as company reveals a fall in profits but a rise in revenues for its year ended December 2015 March 1, 2016 Share price in Jardine Lloyd Thompson Group (JLT) closed up today despite the company revealing a fall in profits in its preliminary results. The company, which provides insurance, employee benefits and brokerage services, reported profits before tax of £155m for its year ended December 2015, a decrease of three per cent from £159.7m the year before, as planned [...]
Share price in RSA Insurance Group rises as company completes disposal of Brazil operation to Suramericana in its bid to leave Latin America March 1, 2016 Share price in RSA Insurance Group rose today as the company waved goodbye to its Brazil operations, after completing on its disposal to Suramericana. RSA first announced that it would be selling its Latin American operations to Suramericana for roughly £403m last September. At the time of the September announcement, Stephen Hester, group chief executive of RSA, said: With RSA’s [...]
Share price in Direct Line powers ahead as insurance company reveals boost to profits for its year ended December 2015, despite costs of over £100m from winter storms March 1, 2016 Share price in Direct Line rose today as the insurance company revealed a boost to profits before tax in its preliminary results despite costs of over £100m from winter flooding. The insurer, which owns the Churchill and Green Flag brands, reported profits before tax of £507.5m for its year ended December 2015, up 11.1 per cent [...]
Is the ECB out of control? March 1, 2016 In the German constitutional court ECB member of the board Yves Mersch qualifies European Monetary Union as a fully fledged community of liability. The president of the German constitutional court Andreas Voßkuhle had summoned the different attorneys in the early morning of 16 February to plan the audience of the day. He suggested that in early afternoon [...]
Leading private bank: Don’t panic about Brexit despite warnings over the economy, the pound, and a leap into uncertainty March 1, 2016 A top private bank has told investors not to panic over the possibility of Britain leaving the European Union, despite warnings from UBS that sterling could fall to parity with the euro if UK voters decide to quit the EU. In a special report, Kleinwort Benson said while a so-called Brexit “presents a lot of uncertainty”, [...]
Barclays’ share price drops as profits and revenues fall on non-core losses – but CET1 ratio improves March 1, 2016 Barclays' share price fell this morning after revealing a slump in profits and revenues for the full year, and a major new strategy ahead of future ring-fencing. The figures Barclays' share price fell six per cent in early trading as investors digested the bank's full year results – Jes Staley's first as chief executive – which showed further declines [...]
Insurance industry underprepared for the disruption of the internet of things, and it’s disappointing tech-savvy and highly connected generation Y March 1, 2016 Consumers' increasing love of technology could revamp the insurance industry, but many in the profession are underprepared for the change ahead, a report out today has found. According to the Capgemini and Efma's most recent annual World Insurance Report, most modern day consumers, particularly those from generation Y, have vastly different needs and demands that traditional insurers [...]
City Moves for 1 March 2016 | Who’s switching jobs March 1, 2016 Marketform Specialist Lloyd’s underwriter Marketform has announced that Darren Lednor, formerly the active underwriter of Ariel Syndicate 1910 and 6117, has joined as chief underwriting officer. Darren has been working in the insurance industry for 20 years across both the London and Bermuda markets and his experience encompasses underwriting, broking, risk and actuarial.Darren began his [...]
Stealth taxes on insurance are driving up costs for businesses and motorists: Don’t make it any worse, chancellor March 1, 2016 The rise in the rate of Insurance Premium Tax (IPT) from 6 to 9.5 per cent, announced in last year’s Budget, did not grab the headlines. But it has had a very real impact. It has led to a further financial squeeze on millions of responsible businesses and households who have done the right thing [...]