London AI startup Cytora raises £25m from Swedish backer EQT Ventures April 17, 2019 Cytora, a provider of artificial intelligence (AI) technology to transform commercial underwriting in insurance, has today closed a £25m series B funding round led by EQT Ventures. Existing investors Cambridge Innovation Capital and Parkwalk also participated in the round, as well as a number of angel backers. Read more: Startups eye bigger slices of the [...]
10 most popular funds in February 2019 March 15, 2019 By Kyle Caldwell from interactive investor. UK shares look cheap, but Brexit uncertainty has stopped some fund investors into their home market. From both a growth and an income perspective, the UK stockmarket is as cheap as chips, but retail investors continue to shy away, data from our parent company interactive investor shows. On the [...]
Aon confirms interest in multi-billion tie-up with Willis Towers Watson March 5, 2019 Aon confirmed today it is weighing up a bid for Willis Towers Watson in what could be the insurance sector’s largest-ever merger. Willis Towers Watson’s shares had jumped to an all-time high after Bloomberg reported Aon was mulling a move for the Nasdaq-listed business. Aon later confirmed that it was in the early stages of [...]
Square Mile skyscraper to bring in Shard man Danny Lemon February 26, 2019 The City's tallest skyscraper has drafted in The Shard’s former manager as it prepares to open its doors later this year. Developers at 22 Bishopsgate, the 62-storey building in the Square Mile known as "Twentytwo", have hired Danny Lemon to oversee the set up and management of the trophy building ahead of its opening late this [...]
Swiss Re boosts profit 27 per cent in 2018 despite tough year for natural disasters February 21, 2019 Swiss Re boosted net profit 27.2 per cent in 2018, despite sustaining hits from natural and man-made disasters. The reinsurer reported net profit of $421m (£366m) compared with $331m a year previously, despite 2018 being the fourth-costliest year on record for the insurance industry. However, its profit is 37 per cent behind consensus, according to figures [...]
Profit at insurer Axa plunges 66 per cent on write downs and natural catastrophes February 21, 2019 Net profit at French insurer Axa plunged by two thirds last year which it blamed on charges related to its US arm’s initial public offering and a rash of natural disasters. Net profit plunged 66 per cent from €6.2bn to €2.1bn for the year ended 31 December. This was influenced by a €3bn write-down on [...]
Best and worst performing income funds of 2018 revealed February 5, 2019 Investment firm Sanlam UK has revealed the biggest winners and losers in its annual study ranking income funds. The Troy Trojan Income Fund, run by Francis Brooke jumped 37 positions to take the top position, followed by the Axa Framlington Monthly Income Fund and the Miton UK Multi Cap Income Fund, it was announced today. [...]
Over-50s insurer Saga set to meet profit expectations after sales cruise forward January 16, 2019 Saga, the insurer and package holiday provider for the over-50s, reported overall profitability is in line with expectations today despite a “challenging” market. Forward sales for cruises have been strong, the company reported, with its ship the Spirit of Discovery, which will set sail in June this year, reaching 69 per cent of the sales [...]
Insurer Axa to shift jobs to Dublin in Brexit move January 10, 2019 Insurer Axa is moving staff to Ireland in the light of the UK’s impending exit from the EU. Chief executive of the French insurer Thomas Buberl told reporters today that Axa’s recently acquired XL unit had already made plans to move staff to Ireland from the UK before its takeover by Axa last year. Buberl [...]
Ex-Virgin Money boss among two women replacing men on Bank of England’s financial policy committee January 3, 2019 Former boss of Virgin Money Dame Jayne-Anne Gadhia has been added to the Bank of England’s financial policy committee alongside the chair of the Banking Standards Board Dame Colette Bowe, chancellor Philip Hammond announced today. The pair will replace Richard Sharp and Martin Taylor, who are stepping down at the end of the first quarter [...]