Lloyds bank set to disinvest stake in esure
Lloyds bank has today revealed plans to sell off its 70% stake in esure at a price which is believed to be in excess of the current book value of £185 million. It is believed that Peter Woods, co-founder and chairman of esure, is to acquire the stake via a new holding company. Those who follow the insurance market may be aware that Peter Woods, originally famed because of his Direct Line insurance creation, set up the esure business with HBOS back in 2001.
However, since HBOS became part of the Lloyds bank group there has been friction between Peter Woods and the Lloyds bank management and the sale of the Lloyds bank stake was expected by many. Esure is a well-known insurance brand in the UK and is also the owner of the infamous Sheilas Wheels brand with its array of striking adverts on the TV.
The company specialises in various niche markets and has made an excellent name for itself with profits topping £38 million in 2008. Quite what Peter Woods has in store for the future remains to be seen but he appears relieved to be on the verge of taking total control of his "baby".
Car insurance market set for overhaul
24/09/2014 The car insurance market is set for an overhaul, following an investigation by the Competition and Markets Authority (CMA). One the major changes will be a ban on exclusive pricing deals between insurers and price comparison websites. The CMA said that these exclusive pricing deals meant that insurers could not make their products cheaper through other channels, such as alterna...Read More
Should you employ an accountant for your self-employed tax return?
As we covered in two of our earlier articles, the UK government is currently undergoing a major crackdown on the self-employed in the UK and any taxation which may be due and has possibly not been declared. The growth in the power and the use of the Internet in the UK and around the world has led to a significant increase in those who are self-employed, often working from home, which has led to so...Read More
Chip And Pin Fraud On The Increase
News that police have broken a major crime ring in the Midlands has brought to light a new and frightening trend in the area of fraud. It has been found that fraudsters and criminal gangs are targeting chip and pin machines in a variety of retail outlets - with garages among the more popular. While the police are unsure of the figures involved they believe that significant amounts of money have...Read More
CWU warns of more crippling strikes for UK post
The Communication Workers Union has today reiterated the fact that if talks do not resume after next week's planned strikes there will be further industrial action in the run-up to Christmas. While many people had expected a flurry of strikes as we approach the festive period, this is clarification that the union is starting to play hardball and looking for the UK government and Royal Mail managem...Read More
Is Gordon Brown set to call a summer election?
As the rumours about a possible summer 2009 election continue to circulate throughout Parliament there is speculation that a rogue element within the Labour Party is trying to force the hand of Gordon Brown. Markedly, the comments about the general election date are anonymous and none have been attributed to any of Gordon Brown's inner circle or close friends. This leads many to believe there will...Read More