Private medical insurance popularity grows
According to figures from the Association of British Insurers (ABI), the number of people taking out Private Medical Insurance (PMI) has risen year-on-year for the first time in recent years.In 2006, 1,030,000 individuals took out personal PMI policies, up 1.8 per cent from the 1,012,000 personal PMI policies in 2005.The number of businesses taking out corporate PMI has increased even more than this, with 2,345,000 corporate PMI subscribers in 2006 an increase of 4.1 per cent on 2005's total of 2,254,000 corporate subscribers.Collectively, personal and corporate PMI plans now cover 5.9 million people in the UK. Commenting on the statistics, Nick Starling, the ABI's director of general insurance and health, said: "Private Medical Insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries. It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service. "It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury."
Post Office beefs up mortgage operation
The Post Office has introduced a total revamp of its mortgage operation which has seen the introduction of a base rate tracker, two and three-year fixed-rate deals and a five-year mortgage agreement which has topped the best buy league. The five-year deal is fixed at 5.09% although it only offers 60% loan to value and comes with a rather hefty £599 arrangement fee.
At a time when t...
FTSE 100 closes under 4000 level as concerns mount
The FTSE 100 index today closed down just over 100 points at 3990.86 amid concerns of a possible stalling of the UK recovery and depressing news from America. As we touched on in one of our earlier post, the Bank of America released figures which on the surface seemed fairly upbeat only for one-off gains and a substantial increase in debt provisions to take the gloss off the announcement. The rath...Read More
Barclays Set For £4 Billon Cash Call
In a move which many saw coming some time ago it seems that Barclays is set to lodge a call for £4 billion from shareholders to repair the company’s balance sheet. If press reports over the weekend are correct, the management of Barclays is in talks with China Development Bank and Singapore based fund Temasek about additional cash injections, with both showing substantial losses against ea...Read More
Property growth lurches forward in spring
UK house price growth shot forwards in March as the seasonal spring boost in activity got underway, according to property website Rightmove.Its latest house price index shows that the average UK asking price accelerated to 12.2 per cent on figures 12 months previously, while the monthly change rose from 0.9 per cent in February to 1.5 per cent in March.The average asking price in the UK is now £2...Read More
Is Ferrero out of the Cadbury picture?
Italian confectionery giant Ferrero is said to have ruled out a potential offer for UK competitor Cadbury. There were hopes that the company would team up with US outfit Hershey and present a "white knight" offer to the Cadbury board to head off the onslaught from Kraft Foods. While the rumours regarding Ferrero dropping out of the bidding have yet to be officially confirmed, those close to the co...Read More