Profits slip for Friends Provident
Life assurance firm Friends Provident has announced a three per cent drop in pre-tax profits which could impact upon its 2008 target.The firm saw profits slump from £524 million in 2005 to last year's £509 million, despite new business profit growth in the UK reaching close to 70 per cent.However due to the "challenging protection market" the London-based insurer operates in, the firm warned that it may struggle to meet the targets it set in October last year.Six months ago, the company announced a "demanding" 2008 target of £180-£200 million in new business profits, a goal it may not meet."Although we remain committed to achieving this target, the product mix and, in particular, the level of protection sales, which has been subdued in recent months, will be critical," said Philip Moore, the group chief executive."It is early days, and we are making progress towards our goal, but the prospects for a more challenging protection market, and the impact on our 2008 target, will not be fully understood until later in 2007."The announcement of last year's profit slide caused the firm's shares to dip by seven per cent on Tuesday morning.
Simple ways to cut your car insurance
There is no doubt that all drivers in the UK dread their renewal date for car insurance as premiums continue to move higher and higher. However, there are a number of simple ways to reduce your car insurance premiums to a level which reflects your risk and your annual mileage. One of the best ways to reduce your car insurance premiums is to limit the mileage which you clock up each and every ye...Read More
Have you been tempted by the doorstep lenders?
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Are we seeing a recovery on the UK high street?
A number of UK retail companies have, over the last few days, published suggestions that life on the high street could be improving with sales set to rise in the short term. While we await official retail figures from the various retail agencies and more detailed guidance from retail companies, it does appear as though the last couple of weeks have seen an increase in activity on the high street.<...Read More
House-building figures highest for nearly two decades
Homes in the UK are being constructed at the fastest rate for nearly 20 years, according to newly released figures.Statistics released by the National House-building Council (NHBC), whose warranty covers 80 per cent of all new houses in the UK, showed that 185,000 new properties were finished last year - the highest figure on record since 1989.After that year's high of 191,800 house construction d...Read More
Payday lenders lack competition
11/06/2014 The Payday loans market lacks competition and is resulting in many customers paying more than they need to, according to the Competition and Markets Authority (CMA). The CMA found that this lack of competition could be resulting in a typical customer’s annual bill increasing by around £30 to £60. The regulators will need to look at the possibility of implementing various so...Read More