Insurer Hardy takes a hit after disaster losses March 3, 2011 LLOYD’S insurer Hardy Underwriting yesterday became the latest company to report results hit by catastrophe losses as its profit halved to £10m in 2010. Net tangible assets rose 1.5 per cent to 270p per share, from 266p in 2009, and it raised its dividend ten per cent to 14.6p. Gross written premiums increased to £279.4m [...]
Business has won already March 8, 2011 That much of the debate over the Olympics has focused on what happens to its venues after 2012 speaks volumes for the efficiency with which the games have so far been organised. Instead of the endless speculation of whether venue X or Y will be ready on time that is normal territory in the months [...]
London counts the cost of protest against cuts March 28, 2011 HSBC has slammed the attacks on its branches during Saturday’s protests as “entirely unjustified,” pointing out that it is one of the UK’s top taxpayers. Branches of Santander and HSBC were boarded up yesterday after black-clad, masked youths smashed their way into branches, where they destroyed fittings and scrawled graffiti. Lloyds TSB was also targeted. [...]
Lloyd’s insurer Jubilee reviews growth options February 15, 2011 Lloyd’s of London insurer Jubilee Group became the focus of M&A speculation yesterday after admitting it had appointed Jardine Lloyd Thompson Advisory to review its business. A Jubilee spokesman said JLT was “looking at a number of options to facilitate future growth.” He would not comment on speculation that a number of firms, including independent [...]
City heavyweights poised to swoop for government assets July 8, 2010 A PAIR of prominent City figures are drawing up secret plans to launch a bid for one of the banks owned by British taxpayers, according to Sky News. It has been reported that Lord Levene, chairman of Lloyd’s of London, and Sir David Walker are backing a new acquisition vehicle that will list on the [...]
City heavyweights poised to swoop for government assets July 8, 2010 A PAIR of prominent City figures are drawing up secret plans to launch a bid for one of the banks owned by British taxpayers, according to Sky News. It has been reported that Lord Levene, chairman of Lloyd’s of London, and Sir David Walker are backing a new acquisition vehicle that will list on the [...]
FTSE slips as earnings news dominates April 21, 2011 The FTSE pushed downwards at the close for the Easter break despite a strong start boosted by a positive round of US results last night. The FTSE 100 closed down 3.96 points or 0.1 per cent at 6,018.30, having jumped 2.1 per cent over the day to close back above the 6,000 level for the [...]
CAPITAL RADIO HOSTS PHONE IN THE PROFITS March 16, 2011 CAPITAL Radio presenters Lisa Snowdon and Johnny Vaughan showed they may have missed their real calling when they dropped in to Phoenix Partners Group yesterday to execute a few trades in a “whirlwind” 30-minute visit. The pair’s stint on the trading floor, directly after their breakfast show, was part of the broker’s annual charity day [...]
New Zealand quake payout may top $6bn February 22, 2011 LONDON insurers were facing the prospect of further large losses yesterday after a 6.3 magnitude earthquake devastated New Zealand’s largest south island city Christchurch. The quake, the country’s worst natural disaster in 80 years, struck the busy business district at lunchtime leaving hundreds trapped by fallen buildings and at least 75 dead. Sources close to [...]
CITY VIEWS: SHOULD LARGE COMPANIES BE LED BY ONE PERSON OR A BOARD OF DIRECTORS? February 23, 2011 KEN SDEAN | LLOYDS “A face will represent a brand if the market perceives strong leadership, but there are many contributors behind every successful business.” PETER WILLIAMS | XCHANGING “The success of a company should not rely on a single person entirely. A directorial board brings more in terms of ideas and options.” TYRAN FALLAN [...]