Royal Bank of Scotland on the verge of Direct Line sale
Despite the fact that Royal Bank of Scotland had initially wanted to sell its Direct Line insurance division in 2012 via an IPO it is believed the company is on the verge of announcing a trade sale very soon. There is speculation that figures such as Warren Buffett, the investment guru, have already stepped forward to show their interest in what is a quality operation.
It seems rather strange that Royal Bank of Scotland is effectively being forced to sell the family silver because of the way it was rescued by the UK government. However, these are the rules of the EU and the bank and the UK government have been forced to abide by them. There is no doubt that many interested parties will step forward in the knowledge that the company is a "forced seller" and cannot therefore in theory hold on for the best price.
When you also consider the company is also being forced to sell its Churchill Insurance operation it is highly likely that Royal Bank of Scotland will exit this particular area of business in the future. This is a company which is slowly but surely being stripped of its former jewels as a consequence of the deeply damaging credit crunch.
Is your life insured?
While the vast majority of people in the UK know fine well that life insurance could be something of a godsend for those left behind in the event of a tragedy it seems that many people still have inadequate life insurance cover in place. Those who have a mortgage in the UK will have some form of insurance attached to this mortgage which will see the outstanding balance paid off in the event that b...Read More
Insurance claims flood in
Up to 8,600 insurance claims are estimated to have flooded in from anxious policyholders following yesterday's wet weather.After torrential rain and flooding plagued a number of areas across the UK, Abbey Home Insurance warned that the damage wrought by the freak conditions had come as a "shock" to many people.The insurer estimates that some 3,200 claims for flood damage were made yesterday alone....Read More
Life insurance costs 'could fall'
Life insurance costs could drop "dramatically" over the years ahead as conditions arise to make policies more affordable.It has been claimed that medical improvements and increased longevity will make life insurance far cheaper for people to purchase.A spokesperson for Libra Financial Planning explained: "The cost of life insurance seems to be coming down dramatically because it would seem that pe...Read More
Royal Bank of Scotland joins UK asset protection scheme
Despite attempting to wriggle off the hook, which is the UK government's asset protection scheme, the Royal Bank of Scotland has been forced to sign up and confirmed that this happened on 26 November. While there's no doubt that the scheme will protect the company's assets in the short to medium term, like Lloyds bank, the company had been attempting to negotiate an exit rather than pay the multib...Read More
Folks with more green go for eco-insurance
While previously environmentally-friendly products have been seen as the preserve of hippies and bohemians, companies have found that people with a few more notes in the bank are now investing in more eco-friendly products. According to the Environmental Transport Association (ETA), the demand for products such as 'green' car insurance has risen recently as environmental matters come under the pol...Read More