Aviva rejects approach from RSA
It has today been revealed by Sky news that UK insurance companies Aviva and RSA have been in communication regarding a potential sale of the Aviva general insurance division. It is believed that RSA made an offer of around £5 billion for the operation which was immediately rebuffed by Aviva. It is not clear why the approach was not publicised at the time, reported to have been last month, but the news has most certainly shaken up the UK insurance sector.
While there has been no further communication between the two parties since the initial approach it is believed that RSA may well come back with a higher offer which Aviva may well have to consider "in public". There have been many rumours and counter rumours within the UK insurance sector for some time now and many believe it is inevitable there will be an exchange of assets between various UK operations. Indeed the Prudential was itself recently the subject of takeover rumours after the company's failed bid for AIG's Far East operation.
At a time when takeovers and mergers in the UK are few and far between, all eyes will be on the insurance sector awaiting further news and further developments.
Is pet insurance a luxury or a necessity?
The UK has long been renowned as a lover of animals with dogs and cats the more popular family pets. As a consequence the last decade has seen a substantial increase in the pet insurance market at a time when veterinary costs continue to rise at a faster rate than many people's income. However there is some confusion as to whether pet insurance is actually a luxury or a necessity for pet owners of...Read More
Over 50s Life Insurance
HM Revenue and Customs announces national insurance holiday
HM Revenue and Customs have today announced a surprise national insurance holiday for new companies in the UK in areas of the country likely to be hardest hit by the reduction in public-sector investment. Those who are eligible for the national insurance holiday will be able to claim relief for the first 10 employees they hire in their first year of operation. HM Revenue and Customs believes that...Read More
New ash tax announced for UK travellers
There is anger today amongst UK travellers with news that British insurer Aviva will be adding £10 to the cost of travel insurance from 1 July in order to cover any costs associated with disruption caused by the ash cloud. The £10 additional cost relates to annual insurance cover for any individual although those booking single trip insurance will only be charged an additional £5. There has...Read More
Why shopping around for your car insurance is vital!
As we covered in one of our recent articles on motor insurance, the AA reported a 7.2% increase in average car insurance premiums in the final quarter of 2009. However, the annual increase in car insurance premiums is well into double digits and there is serious concern that motorists will be hit with higher and higher premiums in the short to medium term. Many of us will have been with the sam...Read More
Financial Advice Tools