England rugby exit hurts more than just the fans October 5, 2015 Sportsrisq director THE AUSTRALIANS have a saying: “When the flag drops, the bluff stops”, and despite England’s mid-week protestations, they were found wanting on Saturday night. From Twickenham to Twitter, aggrieved fans nationwide have aired their woes on every platform but the potential cost to business hasn’t gone unnoticed, with even the ITV pundits tentatively [...]
Insurer Prudential dusts off plans to leave the UK over EU regulations Solvency II October 4, 2015 One of the UK's largest insurers is reportedly mulling upping sticks in favour of Hong Kong or Singapore ahead of European Union regulations which are set to be introduced next year. Prudential is dusting off plans drawn up over three years ago to move its corporate base out of Britain and into Asia, according to the [...]
Government launches clampdown on nuisance calls from claims management companies October 2, 2015 The government is launching a review into how claims management companies (CMCs) are regulated, in an attempt to prevent them bombarding people with nuisance calls and text messages. In a statement today, the Ministry of Justice said it was calling for evidence of how the companies are monitored and controlled. Consumers, regulators, banks [...]
Thousands of Lloyds Premier Bank customers using Royal Sun Alliance emergency cover have had their data “stolen” in security breach October 2, 2015 The personal details of thousands of Lloyds Bank Premier account holders have been lost – potentially stolen – in the latest data breach to hit the City. The data breach affects customers who had Royal Sun Alliance emergency home cover attached to their Lloyds Premier bank account between 2006 and 2012. The policy comes as [...]
EU referendum: Stop the complacency or Britain could sleepwalk out of the European Union October 1, 2015 There must have been something in the water at Number 11 Downing Street in the 1970s and 1980s: two of the most famous post-war chancellors have now said they will vote Out in David Cameron’s forthcoming EU referendum. Denis Healey told the New Statesman some time ago that he would vote to quit Europe [...]
Saga profits jump after motor unit drives ahead October 1, 2015 Insurer Saga posted a 140 per cent jump in pre-tax profit for the six months to 31 July, up to £101.3m from £42.2m, and announced its first interim dividend of 2.2p. The company, which specialises in products for the over-50s, highlighted its motor business, which saw a 9.7 per cent increase in policies. Trading Ebitda [...]
City Moves for 1 October 2015 | Who’s switching jobs September 30, 2015 APAM The commercial property asset manager has appointed Simon Hardwick as chairman. Hardwick was formerly at PwC Legal, where he lead its real estate practice. He is also an independent non-executive member of the management board at the Royal Institution of Chartered Surveyors, and has over 35 years’ experience. BARINGS The investment firm has appointed [...]
Glencore share price rises after chairman Tony Hayward buys more shares September 30, 2015 This is either a vote of confidence in the company's prospects, or a baby step towards a surreptitious management buyout – either way, one Glencore exec has decided to increase his stake in the commodities miner and trader today. Glencore chairman Tony Hayward has hoovered up an additional 100,000 shares at 91p per share, according to [...]
PPI-related complaints against UK banks falling September 30, 2015 Customer complaints about payment protection insurance (PPI) are falling, according to new financial regulator figures which hint that the fallout from banks’ mis-selling of PPI is beginning to settle. PPI-related complaints remain the biggest source of grumbling among customers in the aftermath of the scandal, but they’re down 17 per cent in the first six [...]
Quindell share price rises on report of loss and dropping sales after rocky period September 30, 2015 The figures The troubled insurance claims processor has reported a pre-tax loss of £35.4m for the first half of 2015. Revenue has dropped to £35m, down from £43m. These figures come just weeks after the company released full-year accounts restating past earnings. Quindell shares were up after the results, trading 2.15 per cent up in [...]