Brit insurance has accepted £888m offer October 26, 2010 BRIT Insurance yesterday accepted a formal offer from private equity firms Apollo Management and CVC Capital Partners, which values Brit at up to £888m. The offer from Apollo and CVC, which have formed a new company called Achilles to make the offer, values the Lloyds of London insurer at £10.75 per share but includes a [...]
Amlin remains bullish despite catastrophes as rates increase May 12, 2011 JAPANESE earthquake and tsunami losses are likely to be at the high end of Amlin’s estimates, the catastrophe insurer said yesterday. The Lloyd’s insurer has reserved £260m against losses from the New Zealand and Japanese earthquakes alone and said Japan losses “will be towards the top end of our previously published range”. Gross premium income [...]
WOULD YOU SUPPORT SCOTLAND’S SEPARATION FROM THE UK? May 9, 2011 JACQUELINE CANSELLA | LLOYD’S OF LONDON “Yes, providing they don’t come back to us if it fails. They also need to stop Scottish MPs coming here. It’s not right they get the benefits of the UK but we don’t get the benefits they have.” JASON WARD | MARKETRESEARCH.COM “Yes. They’ve wanted to stand on their [...]
Southern Cross to consider selling up May 15, 2011 STRUGGLING care home provider Southern Cross will consider putting the business up for sale once its battle to cut costs with landlords is over, City A.M. can confirm. Southern Cross last week appointed Greenhill as joint adviser to run discussions with landlords alongside KPMG and turnaround specialist Bolt Partners, but the investment bank is also [...]
Southern Cross to consider selling up May 15, 2011 STRUGGLING care home provider Southern Cross will consider putting the business up for sale once its battle to cut costs with landlords is over, City A.M. can confirm. Southern Cross last week appointed Greenhill as joint adviser to run discussions with landlords alongside KPMG and turnaround specialist Bolt Partners, but the investment bank is also [...]
CITY VIEWS: ARE YOU LOOKING AT DIFFERENT WAYS TO SAVE MONEY? May 12, 2011 CHARLOTTE PEMBER | STANFORD RESOURCING “Yes, I invest in shares instead of with high street banks. With the rates you get with the banks there is hardly any return on the money you’re looking at. There are other ways to get a better return, such as with a fund manager.” BARRY LUBBERDINK | WILDNET “Yes. [...]
FTSE hit by China growth fears and eurozone crisis May 23, 2011 Commodity stocks took a hammering in early trading today as miners and energy related groups suffered from uncertainty in the global economy. The eurozone debt crisis continued to cast a shadow after Italy’s credit rating was downgraded by Standard & Poor’s from stable to negative. Chinese manufacturing data from HSBC showing a ten-month low also [...]
UK’s million pound home sales surge May 2, 2011 SALES of properties worth over £1m have shot up at the fastest rate in four years, research by Lloyds TSB showed yesterday. Million pound house sales numbered 7,185 last year, up 54 per cent from 2009. “This is the largest annual increase since 2006 and suggests a real resurgence at the very top end of [...]
UK’s million pound home sales surge May 2, 2011 SALES of properties worth over £1m have shot up at the fastest rate in four years, research by Lloyds TSB showed yesterday. Million pound house sales numbered 7,185 last year, up 54 per cent from 2009. “This is the largest annual increase since 2006 and suggests a real resurgence at the very top end of [...]
Banks drop but FTSE treads water ahead of Fed decision June 22, 2011 BRITAIN’S top share index closed marginally lower yesterday, as weakness in banks offset gains in defensive stocks with investors jostling positions ahead of a US interest rate decision. London’s blue chip index bobbed around but closed down 2.32 points at 5,772.99, as cautious investors awaited the Federal Reserve’s assessment of the economy and any plans [...]