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.
Under-25s' 'car insurance gender gap' grows
Young men continue to pay much more for their car insurance than young women.According to figures from the AA, released today, this "gender gap" has increased markedly over recent years - swelling by 60 per cent since 2003.The car insurance provider also said that premiums for young women have been falling over the past five years.Government figures show that under-25s cause 29 per cent of deaths...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
Don't be too open on Facebook!
As the insurance sector, always looking to cut costs and reduce liabilities, tackles the issue of Facebook and other social networking sites it appears that many customers could see their premiums increase and their payouts decrease. It seems that too many people are being far too open on their social networking pages, discussing holidays, posting pictures of their homes and releasing other confid...Read More
Travel insurance warning for medical tourists
Tens of thousands of the UK's so-called medical tourists are risking severe financial losses by failing to ensure they are covered for surgical treatment abroad. Government figures show that the health tourism industry has burgeoned over the last decade, with 70,000 people travelling overseas for cosmetic or elective medical surgery last year. However, in a poll conducted by Post Office Travel Ser...Read More
Warning on insurance fraud
People who may be tempted to inflate their insurance claims have been warned that the industry is getting better at catching insurance fraudsters.The Association of British Insurers (ABI) has revealed that the insurance industry is uncovering £1.3 million worth of fraudulent claims every day, which is three times as much as in 2003.And the ABI believes that much of this is down to improved detect...Read More