Simply Business’ Jason Stockwood tells City A.M.: The future of insurance is in technology January 5, 2016 Insurance, Simply Business’ chief executive Jason Stockwood says, has lost its place in society. “When you really start to think about it, it’s such a valuable underpinning of a functioning society and yet customers don’t just see it that way,” he remarks. However, Stockwood is determined that insurance will be restored to its former glory, [...]
Business is in denial about the true likelihood of Brexit January 5, 2016 What are the economic implications of Brexit? Pro and anti-EU camps have been trading statistics for years about the number of jobs or level of exports linked to EU membership. It is a theoretical debate but, if Britain does vote to leave the EU, it will become very real. Most recent opinion polls have showed [...]
LV= steps into legal market with law firm Lyons Davidson partnership to provide a selection of legal services January 4, 2016 Insurance company LV= today announced it is entering the legal market, working with a law firm to provide a range of legal advice services. By partnering with solicitors firm Lyons Davidson, LV= Legal Services will be able to provide advice on matters including wills, conveyancing and employment law. “Most of us need expert legal help [...]
RSA Insurance Group share price drops as it completes on sale of Italy business January 4, 2016 RSA Insurance Group revealed today that it had completed the sale of its business in Italy. RSA sold its Italian business to ITAS Mutua, which is headquartered in Italy and provides 1.2m policies, after receiving regulatory approval. The firm's share price tumbled after the news was announced, dropping 3.4 per cent to 412p shortly after the [...]
City A.M.’s journalists take a look at what 2016 has in store for the world of finance and business January 4, 2016 BANKING Strengthening outlook despite more regulatory bumps ahead Bank of England governor Mark Carney may have declared the banking crisis officially over at the end of last year, but 2016 looks to be far from a challenge-free year for Britain’s biggest banks. To be sure, all seven of the UK’s leading lenders passed the Bank’s [...]
KPMG: Commercial banks and high net worth individuals face bigger threat from hackers targeting specific victims in 2016 January 3, 2016 With high-profile corporate attacks and tightened legislation, cybersecurity soared higher on boardroom agendas last year, but experts are predicting the threat will continue to grow worse in 2016, as hackers increasingly target specific victims. High net worth individuals, commercial banks and corporate treasuries will be especially exposed to threat from organised crime groups this year, [...]
Legal & General sale of Dutch retail unit possible in 2016, as company sheds non-core businesses after last year’s disposals of Egypt and Ireland ventures January 3, 2016 Legal & General is mulling over the decision to sell its Dutch retail business. The financial services giant is considering a sale in 2016 as part of a wider plan to leave non-core businesses. In November last year, Legal & General, which is headquartered in London and had 10m customers worldwide at the end of [...]
£40m promised for flood defences by David Cameron after storm Eva and Frank January 3, 2016 A package of £40m has been promised by the government to fix Britain's flood defences in areas devastated by storm Eva over Christmas. “I have seen at first-hand the devastation caused by flooding. And that’s why this work to repair and improve flood defences is so vital," said Prime Minister David Cameron. “We are already spending [...]
Flood defences will put people first, says the Environment Agency chief executive Sir James Bevan January 2, 2016 After hundreds of people were forced to leave their homes in Yorkshire and Lancashire, the Environment Agency's chief executive has said "people will always come first" in the fight to defend the UK against flooding. Speaking to BBC Radio 4's Today programme, Sir James Bevan said: "If we have to choose between people and wildlife, we [...]
The FCA has dropped two more banking probes after shelving a major review into industry culture January 1, 2016 Britain's financial watchdog has reportedly dropped two more probes into the banking industry, in the wake of its u-turn on a major review into the culture, pay and behaviour of those who work in the industry. The Financial Conduct Authority (FCA) has scrapped a study into the way lenders incentivise their staff to sell financial products, and will [...]