Aviva confirms strategic review of Asia units as UK life insurance profits fall August 8, 2019 Aviva confirmed it is reviewing its Asian insurance arms with the potential for a sale as it revealed what its chief executive called a “mixed” bag of half-year results today. The figures The insurer saw operating profit climb one per cent year on year to £1.45bn in the first six months of 2019, beating forecasts [...]
Deliveroo stumbles to London float with pricing at bottom end March 30, 2021 Deliveroo will price its initial public offering at 390p per share, the bottom end of previously touted valuations for the food delivery firm. The price would indicate a lower-than-expected valuation of £7.6bn, after a string of UK fund managers said they would not take part in the deal. The fund managers cited concerns about Deliveroo’s [...]
Aviva CFO to leave in latest leadership shake-up June 5, 2019 Aviva’s CFO is set to depart in the latest of a series of sweeping changes under new boss Maurice Tulloch. Tom Stoddard will quit his role as chief financial officer at the end of June, the UK insurer’s board of directors said. Read more: Aviva share price falls as it warns of ‘muted’ 2019 He [...]
Leading investors call on banks to set tougher net zero targets April 19, 2021 A group of investors managing $11 trillion in assets is calling on banks to set radically enhanced emissions targets ahead of a key meeting aimed at tackling climate change. The group, which includes Aviva Investors and Legal & General Investment Management, said banks have a “critical role” in aligning the economy with net zero targets. [...]
Rathbones ends ‘challenging’ year with a dividend hike March 4, 2021 Investment management giant Rathbones finished a ‘challenging’ 2020 with £54.7bn funds under management, the firm said this morning, after enjoying growth of 8.5 per cent last year. The firm’s underlying profit before tax increased by 4.3 per cent to £92.5m, meanwhile its funds business soared 32.4 per cent to £9.8bn. Chief executive Paul Stockton said: [...]
Hiscox tops list of insurers facing business interruption claims May 12, 2021 Hiscox faces paying the out on the largest number of business interruption claims, according to data compiled by the Financial Conduct Authority (FCA). Hiscox has accepted 6,692 business interruption claims for Covid-19 losses and faces making a decision on whether another 3,122 pending claims are valid, data published by the FCA today shows. The insurance [...]
Aviva pushes out female senior exec while on maternity leave June 10, 2019 Insurer Aviva has pushed out one of its most senior female executives while she was on maternity leave. Chief people officer Sarah Morris went on maternity leave last July and was put on gardening leave at the end of May, the Sunday Times reported. Aviva refused to comment on the circumstances of Morris’s departure. In [...]
Daily Mail group revenue plunges £95m but investments offset the loss May 27, 2021 The group behind the Daily Mail has seen revenues tumble 12 per cent over the past six months, the newspaper group said this morning, but its investments may have offset the loss. The newspaper group raked in nearly £100m less in the six months to 31 March, earning revenue of £547m, down from £642m in [...]
Wagamama owner The Restaurant Group burns through £5.5m a month during lockdown March 1, 2021 Wagamama owner The Restaurant Group has said it expects to burn through £5.5m a month until lockdown restrictions are lifted. The group announced details of the cash burn rate at Christmas but today said it expected to stay at this level until the end of restrictions, which are due to be lifted no earlier than [...]
Progress Together Hub June 21, 2024 Shaping Our Future Progress Together is a not-for-profit membership organisation working to improve socio-economic diversity at senior levels in UK financial services. People from working-class families are not being given opportunities for promotion within financial services. Progress Together’s 2023 report, ‘Shaping our Economy’, revealed that socio-economic background has a severe impact on career progression in [...]