Royal London sales hit by DB transfer drop despite rise in profits August 12, 2019 Royal London, the UK’s largest mutual life insurer, has reported a drop in new business sales during the first half of the year. The pensions provider blamed an industry-wide reduction in defined benefit (DB) transfers today for a four per cent year-on-year fall in new business sales to £5.8bn for the first six months of [...]
City Moves for 9 August – Who’s switching jobs at Assurant, OSTC and Media Chain? August 9, 2019 Today’s City Moves includes Assurant, OSTC and Media Chain. Assurant Global provider of housing and lifestyle solutions Assurant has announced the appointment of Christian Formby as its new president, Europe, subject to receipt of regulatory approval. Formby will have responsibility for developing and executing strategic priorities for Assurant’s European operations to drive profitable growth in [...]
Insurer Zurich expects to beat targets as profits jump August 8, 2019 Zurich Insurance Group hailed its best performance in a decade this morning after reporting a double-digit rise in profits and predicting that it would beat previous financial goals it had set. Read more: Aviva confirms strategic review of Asia Europe’s fifth largest insurer reported business operating profits of $2.8bn (£2.3bn) in the first six months [...]
I’d love to see Rory McIlroy win The Open at Royal Portrush but Jon Rahm is my top pick for the year’s last golf Major July 16, 2019 It’s a slightly strange scenario to be playing the last Major of the year in mid-July, owing to golf’s new, reshuffled calendar, but there is enormous anticipation surrounding the 148th Open Championship, which starts on Thursday. Royal Portrush is an extremely good golf course which is in mint condition and certainly deserves to be hosting [...]
Insurers voice disappointment as UK changes personal injury discount rate July 15, 2019 The insurance sector blasted the government today as it revealed plans to change the discount rate used to determine insurance payments for serious injuries in accidents from minus 0.75 per cent to minus 0.25 per cent. Read more: More price hikes to come as car insurance premiums climb The Ministry of Justice revealed the change [...]
Swiss stocks buoyant despite Berne-Brussels bust-up July 9, 2019 For a market locked in a bitter battle with the European Union, Switzerland’s top-flight share index is looking remarkably chipper. But then, this may have something to do with the fact that since the breakdown of relations between Berne and Brussels, anyone wanting to deal in Swiss company stocks has to do so inside Switzerland’s [...]
The CBI had a chance to look beyond the Brexit debate, and they blew it May 31, 2019 The Tory leadership election resembles a family dinner that starts off friendly enough but which will, inevitably, descend into a wine-soaked argument. And that’s before we’ve even got into policy details. The front-runners are currently gung-ho about a no-deal Brexit but those that aren’t, notably Matt Hancock and Rory Stewart, are keen to talk up their [...]
British Steel falls into insolvency after government bailout talks fail, in ‘devastating’ blow for 5,000 workers May 22, 2019 British Steel has collapsed into insolvency after the last week of attempts to lobby the government for a £75m cash injection failed. Read more: Troubled British Steel braces for insolvency in last-ditch loan talks The industrial giant – which employs 5,000 people – has been asking the government for an emergency loan designed to save [...]
Cybersecurity: why you’re right to be cautious May 13, 2019 By Ian Hall (City AM, for the CFA Institute) The threat of cybersecurity and data-privacy attacks is under-estimated and growing, and organisations and individuals should proceed with extreme care in respect of digital information security, according to a Switzerland-based expert. David Basin, Professor of Computer Science at ETH Zurich, used a seminar at the 72nd [...]
Sacked Gam fund manager Tim Haywood blocked from annual meeting May 8, 2019 Tim Haywood, the star fund manager fired from Gam Investments over allegations of misconduct earlier this year, was barred from entering the company’s annual meeting this morning. The Swiss asset management firm also failed to secure the backing of at least 50 per cent of shareholders at the meeting to discharge the board from legal [...]