ABI NAMES OTTO THORESEN NEW DIRECTOR-GENERAL March 8, 2011 OTTO Thoresen, the chief executive of Aegon’s UK arm, has been named as the new director-general of the Association of British Insurers (ABI). The trade association for insurance, investment and savings has been overseen by Maggie Craig, ABI’s director for life and savings, since Kerrie Kelly left last summer after just six months in the [...]
ABI NAMES OTTO THORESEN NEW DIRECTOR-GENERAL March 8, 2011 OTTO Thoresen, the chief executive of Aegon’s UK arm, has been named as the new director-general of the Association of British Insurers (ABI). The trade association for insurance, investment and savings has been overseen by Maggie Craig, ABI’s director for life and savings, since Kerrie Kelly left last summer after just six months in the [...]
ABI warns on bonus payouts February 6, 2011 THE Association of British Insurers (ABI) has warned the UK’s top 350 public firms against offering executive pay deals with unlimited bonuses. An ABI letter sent to all FTSE 350 firms warns that its institutional voting information service (IVIS) would issue a “red top” alert on uncapped pay deals where there was no proof of [...]
ABI warns on bonus payouts February 6, 2011 THE Association of British Insurers (ABI) has warned the UK’s top 350 public firms against offering executive pay deals with unlimited bonuses. An ABI letter sent to all FTSE 350 firms warns that its institutional voting information service (IVIS) would issue a “red top” alert on uncapped pay deals where there was no proof of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 25, 2011 FINANCIAL TIMES US TAX AUTHORITIES TARGET BANK DEALS US tax authorities are targeting cross-border finance deals worth billions of dollars between leading US and UK banks as they step up efforts to clamp down on abusive tax avoidance, a joint investigation by the Financial Times and ProPublica has found. Four US banks – BB&T, Bank [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 25, 2011 FINANCIAL TIMES US TAX AUTHORITIES TARGET BANK DEALS US tax authorities are targeting cross-border finance deals worth billions of dollars between leading US and UK banks as they step up efforts to clamp down on abusive tax avoidance, a joint investigation by the Financial Times and ProPublica has found. Four US banks – BB&T, Bank [...]
OFT to probe soaring car insurance costs September 8, 2011 Steep increases in the cost of car insurance have prompted the competition watchdog to launch a call for evidence to understand the pressures on the market. The Office of Fair Trading is reacting to about 40 per cent increases in the cost of premiums for the compulsory insurance for all motorists, and has asked insurance [...]
ABI warns on bail-in capital January 11, 2011 FORCING bank bondholders to absorb losses from a bank crisis is risky and will impose heavy losses on Europe’s pensioners, the Association of British Insurers warned yesterday. Turning bank debt into contingent capital would prevent investors matching it against long-term products such as annuities, while failing to respect existing debt contracts may destabilise secondary markets, [...]
It’s a No Show for Davis, the ABI’s new non-recruit February 8, 2011 THE ABI, the voice of the UK’s insurance and investment industry, is once again looking for a director of Investment Affairs following the shock decision of Jonathan Davis not to take up the role as agreed in November. Davis said that his other commitments made it difficult for him to commit sufficiently to the job. [...]
Insurers say London riot losses “well over £100m” August 9, 2011 Damage from riots in London has cost the capital “well over £100m” in insured losses, an insurance industry group has said. The Association of British Insurers has raised its estimate of the damage from three nights of violence and looting across swathes of London from “at least tens of millions” to more than£100m after it [...]