FTSE falls despite rally after Bank’s dovish rate update – London Report August 7, 2015 BRITAIN’S top share index slipped yesterday, weighed down by weakness in miners and insurer RSA, though it briefly rallied off lows after a broadly dovish update from the Bank of England. The FTSE 100 index ended down 5.32 points, or 0.1 per cent lower at 6,747.09 points, turning slightly lower after a negative open on [...]
Amlin goes racing green with Formula E August 7, 2015 Global insurers Amlin announce their sponsorship of Formula E team Andretti for the next season today. Head of communications Adrian Britten, who was so proud of “the best looking cars on the road”, also hinted that the firm may start using electric company cars. “We’ve had a very positive response from our senior teams.”
Aviva’s UK life business leads positive results August 7, 2015 AVIVA boss Mark Wilson said yesterday that he is confident that the restructure he has been leading at the insurer since 2013 is progressing well, with the integration of Friends Life already ahead of schedule. Reporting on the six months to 30 June, Wilson said the period marked “10 consecutive quarters of growth”, adding: “All [...]
Hester plays hard to get over Zurich bid for RSA August 7, 2015 RSA BOSS Stephen Hester wants prospective buyer Zurich to put up or shut up, as the insurance giants edge towards a potential merger. The Swiss insurer last week revealed that it is considering making a bid for RSA, and now has until 25 August to make a formal offer, or announce that it has decided [...]
Quindell share price plummets by a third on its first day of trading since June August 6, 2015 The share price of troubled insurance claims processor Quindell fell almost 40 per cent to 79p this morning as trading in the company's shares resumed for the first time since it suspended them in June. The news came the day after the the Serious Fraud Office (SFO) launched an investigation into the company, following a [...]
Zurich could “walk away” from RSA as profit rises August 6, 2015 Swiss insurer Zurich's chief exec Martin Senn has told the Financial Times that it could "walk away" from its potential acquisition of UK rival RSA if the deal fails to meet its financial hurdles. The comments were made after RSA surprised the market with a better-than-expected set of results for the first half of this [...]
Good results from Legal and General help to boost FTSE – London Report August 6, 2015 BRITAIN’S top share index rose yesterday, boosted by better- than-expected results from Legal & General and London Stock Exchange Group, and by a rebound in the mining sector. The FTSE 100 closed up one per cent at 6,752.41 points, about five per cent below a record high of 7,122.74 points reached in April. Insurer Legal [...]
Legal & General sees benefits of restructure plan August 6, 2015 INSURANCE and investment group Legal & General (L&G) increased profit by six per cent in the first half of 2015, despite being hit by a 62 per cent decline in annuity sales. The company’s pre-tax profit increased to £672m, up from £636m, and L&G Investment Management grew its assets under management by 12 per cent [...]
City Moves for 06 August 2015 | Who’s switching jobs August 5, 2015 Savills The property adviser has appointed Julian Lyon as director in its worldwide occupier services team. He joins from General Motors UK, where he spent 17 years consolidating its UK property portfolio. Lyon has 30 years’ experience in the commercial property market. Standard Chartered Mark Smith has been appointed group chief risk officer at the [...]
Investment management firm Standard Life Wealth acquires Newton Private Clients August 5, 2015 Pensions, insurance and savings firm Standard Life has announced that Standard Life Wealth, their wealth management division, has successfully completed the acquisition of Newton Private Clients from Newton Management Limited. Standard Life Wealth will be the brand under which the combined business will operate, with £5.5bn assets under management. The acquisition will increase profitability and [...]