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.
Zurich Insurance loses personal data for British customers
It has been revealed that ZÃ¼rich Insurance has lost a data tape which held the personal details of 51,000 of the company's British customers. The revelation comes more than a year after the tape was lost in transit from South Africa and there are concerns that the company, while admitting the error to the regulatory authorities some time ago, has not yet been in touch with customers to warn the...Read More
Life Insurance ‘Too Expensive’ for Brits
Research from Beagle Street has found that Brits are shunning life insurance policies in large numbers, because they believe it is ‘too expensive’ 39pc of people who took part in the research claimed they felt that life insurance policies cost too much, despite the fact that prices start from just £3 per month. This means that more than half of British adults are at risk of leaving their...Read More
Simple ways to save money : Insurance
While we have seen various reports over the last few weeks of people deciding against renewing their home insurance, car insurance and other insurance policies, there are obvious risks with this particular strategy - not to mention possible legal implications. However, there are many ways to reduce your insurance premiums which will only take a few moments of your time.
It is well-k...
Specialist car insurance providers 'not always cheapest'
Female drivers have been warned that motor insurance policies from women-only insurance providers do not always offer the best value for money. Research conducted by price comparison site moneysupermarket.com found that women can often find cheaper deals by choosing a policy from a traditional car insurance provider. The site highlighted the example of a 30-year-old woman who is seeking insurance...Read More
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