Beazley profits dive on currency July 27, 2009 Lloyd’s of London insurer Beazley reported a 55 per cent drop in its half-year profit, blaming currency fluctuations, and said it expected to benefit from rising insurance prices in the months ahead. Beazley had a pre-tax profit of £20.1m in the six months to 30 June, down from £45m in 2008.
Chaucer moves into profit and looks to relocate thanks to “high” UK taxes March 8, 2010 Chaucer, the Lloyd’s of London insurer, has reaffirmed plans to move offshore by 2011 due to high UK corporate taxes. The announcement by chief executive Bob Stucherry came on the same day that the Group reported a pre-tax profit of £42m in 2009, compared with a loss of £26.2m the year before. Analysts said the [...]
Disappointed Eley eyeing Sochi medal February 28, 2010 SHORT-TRACK speed skater Jon Eley admits he is running out of chances to deliver on his Olympic promise, after another Winter Games passed without success. Eley said nothing less than a medal would do in Vancouver after reaching the final in Torino in 2006, but has now revised his four-year plan to an eight-year mission, [...]
London developer steps up his bid to buy Rangers March 8, 2010 SCOTTISH league leaders Rangers last night confirmed that majority shareholder Sir David Murray has opened discussions with London-based property developer Andrew Ellis about a possible takeover of the club. The Glasgow club are £31m in debt and under pressure from Lloyds Banking Group to control costs. Rangers say the talks with Ellis are at an [...]
CITY MOVES | WHO’S SWITCHING JOBS March 28, 2010 Principal Global Investors The asset management firm has appointed Andrea Muller as chief executive of its east Asian operations and managing director for the Asia ex-Japan region, effective from tomorrow. Muller has over 23 years of experience with large multinational firms and was most recently the head of the Fitch ratings agency in the Asia [...]
CITY MOVES | WHO’S SWITCHING JOBS March 3, 2010 LaSalle Investment Management The investment manager has appointed Susan Lloyd-Hurwitz as managing director for Europe and a member of its nine-strong global management committee. Lloyd-Hurwitz will also be a director of LaSalle’s parent company, Jones Lang LaSalle. She has over 20 years of experience in the real estate and asset management industry, most recently as [...]
JLT: We have outperformed our US rivals March 2, 2010 JARDINE Lloyd Thompson (JLT) has seen double-digit growth in 2009 revenue and profits as the Lloyd’s of London listed insurer said it will avoid making any large acquisitions. Revenue for the group climbed to £612.9m, marking a 14 per cent increase on 2008 when income came in at £536.1m. Likewise, profits before tax reached £102m [...]
Bankers must look hard at pay if they want to win back the public’s support April 14, 2010 JUDGING by public and media sentiment over the past couple of years, the fairground arcade staple of whack-a-mole will at some point be replaced by the sport of whack-a-banker. The credit crunch blame-game does not appear to be dissipating. A particular bone of contention between the banks, politicians and the public is the issue of [...]
PANTHER BOSS ON A TRIP INTO NOSTALGIA April 26, 2010 ANDREW Perloff, the eccentric chairman of property firm Panther Securities, has something of a cult following among City investors due to his penchant for using company results statements as an excuse to reminisce at length about life’s little quirks. But yesterday’s final results announcement was a corker even by Perloff’s own standards, ranging from fervent [...]
Ailing share price could cost Lloyds’ Eric Daniels millions February 15, 2010 LLOYDS chief executive Eric Daniels is line to forego a long-term incentive bonus worth millions of pounds as the bank’s share price continues to linger in the doldrums, City A.M. can reveal. Daniels, whose pay is under scrutiny this week ahead of Lloyds’ annual results on 26 February, is now likely to see his combined [...]