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.
Do you really understand how your car insurance works?
One element of car insurance which many consumers cannot get their head around is the fact that you buy a car, you insure the car for the value at the time (with the premiums calculated on the situation then) but if you are involved in some kind of crash of accident and your car is written off you do not always receive the full value on the insurance documentation. So how does this work?
Disabled holidaymakers advised to check travel insurance
Disabled holidaymakers have been advised to check their travel insurance to make sure it covers key areas. Brian Seaman, head of consultancy at Tourism for All, said individuals with a disability should ensure they have enough medication with them to last the trip and to check any accommodation they plan to stay in has sufficient facilities to cover their needs. He noted: "You may need to ask a fe...Read More
Don't automatically renew your travel insurance
Many people across the UK automatically renew their home insurance, car insurance and travel insurance for example without ever considering the consequences. Aside from the fact that many do not even consider looking around for better rate, what is the point of renewing your travel insurance if you do not have a holiday booked this year or next?
While it may sound crazy to the vast...
UK insurance rates are set to soar in coming years
While the banking industry is under serious pressure from the government, the insurance sector is sure to come under close scrutiny over the next couple of years. It is no surprise that insurance companies have seen a major reduction in their incomes in light of the economic slowdown and stock market turmoil, and this reduced income will need to be covered by increased premiums.
Standard Life and the £100 million investment mistake
Under severe pressure from financial watchdogs and the government, Standard Life has today announced plans to compensate nearly 100,000 savers who had their investments in the company's "safe" cash fund. You would expect such a fund to invest in cash and near cash deposits although it appears that between 2004 and 2007 the fund's exposure to mortgage-backed securities was increased from 3% to a ma...Read More