Santander announces agreement with Aviva
Spanish financial giant Santander, the owner of UK assets such as Abbey, Alliance and Leicester and parts of Bradford and Bingley, has today announced an exclusive five-year deal with UK insurance giant Aviva. The agreement sees Santander enter into an exclusive deal which will see the company sell Aviva life insurance through its 1300 UK branches.
This is not the first deal between Santander and Aviva as the Spanish giants already sells a range of Aviva general insurance products throughout the UK. There is no doubt that Santander is "bulking up" the UK operation ahead of a potential sale later this year or early next year. Quite what value investors will place upon the company's UK operations remains to be seen but there has been significant growth over the last decade.
Santander is one of the few financial companies around the world which has managed to exit the worldwide economic downturn very much stronger. The company continues to look for acquisitions both in the UK and overseas and many believe that Santander, already a formidable name in the worldwide financial arena, is one to watch for the future. It has taken some time to expand the UK operations but the company now has a very strong presence in the country.
Insurer urges home owners to check alarms
Spring cleaning is an ideal opportunity to carry out checks on home security devices, according to a leading home insurance provider. A study conducted by Legal & General found that 30 per cent of households now have a burglar alarm. However, half of alarm owners admitted that they never checked whether the device was in good working order. Elaine Parkes, head of technical services for Legal & Gen...Read More
What is happening at AIG?
While AIG has a number of businesses which are still trading profitably and will no doubt be sold off if the group does go under, its venture into the loan package market and sub-prime sector has been the downfall of this great giant (even if it survives it will be a different animal from the one only a few weeks ago). So what exactly happened?
Not only did AIG get involved in buyi...
Weather Insurance Comes To The Holiday Trade
While there is very little that you can do about bad weather, even if you choose some of the sunniest areas in the world, there may be light at the end of the tunnel for UK holiday makers. Ex-Google employee David Friedberg has created a new company by the name of WeatherBill which works with travel agents to offer weather insurance cover for their customers.
The company has just s...
Why has Equitable Life taken so long to sort out?
The embers of the former financial giant in the UK, Equitable Life, have been well and truly doused but there is still much anger with regards to the 1.5 million people who were impacted by the company's inability to cover its future liabilities. The company nearly collapsed after losing a court case during which it attempted to reduce liabilities but failed. However, it is estimated that a large...Read More
Don't be "hoodwinked" when it comes to mobile phone insurance, says Biba
People who upgrade their mobile phones often don't realise that their existing mobile phone insurance will not cover their new phone, according to Peter Staddon of the British Insurance Brokers' Association (Biba). Mr Staddon urged people to be better educated when it came to their insurance policies, giving the example of mobile phone insurance, where often when people take out a policy at the po...Read More