Private medical insurance popularity grows
According to figures from the Association of British Insurers (ABI), the number of people taking out Private Medical Insurance (PMI) has risen year-on-year for the first time in recent years.In 2006, 1,030,000 individuals took out personal PMI policies, up 1.8 per cent from the 1,012,000 personal PMI policies in 2005.The number of businesses taking out corporate PMI has increased even more than this, with 2,345,000 corporate PMI subscribers in 2006 an increase of 4.1 per cent on 2005's total of 2,254,000 corporate subscribers.Collectively, personal and corporate PMI plans now cover 5.9 million people in the UK. Commenting on the statistics, Nick Starling, the ABI's director of general insurance and health, said: "Private Medical Insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries. It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service. "It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury."
Cadbury investor could bail out at 820p a share
Unofficially it is believed that at least one of Cadbury's top-10 institutional shareholders would consider an offer in the region of £8.20 a share for the UK chocolate maker. This comes just hours after Cadbury issued a relatively upbeat trading statement although on reflection some analysts are concerned that the upbeat statement may just be a little shy of what is required to beat off the pote...Read More
Are we looking at the worst UK recession since 1947?
Figures have shed an unfortunate light on the UK economy with a sharp fall in economic output forcing many experts to run for the history books. We now appear to be heading for the worst UK recession since 1947 with unemployment set to soar in the short to medium term. Despite literally billions and billions of pounds being pumped into the economy output continues to fall and confidence has not pi...Read More
Why did the US authorities change their mind about the rescue plan?
It has been revealed over the last few days that the US authorities have changed the breakdown of their $700 million rescue package. They appear to have taken a page out of Gordon Brown's book and are now suggesting direct equity stakes in the various US banks in order to increase their financial strength.
So what about the toxic assets?
This change in strategy is set...
Have UK mortgage rates bottomed out?
The Bank of England has today confirmed that 51,100 mortgages were approved in June compared to 45,000 in May, which indicates there is growing demand for mortgage funding and ultimately UK property. However, the jump in demand between May and June appears to have caught many UK mortgage lenders off-guard and threatens to push up mortgage rates in the short to medium term as long-term finance rate...Read More
UK government to share JP Morgan bonus pot
The UK government is set to share in the £5.7 billion bonus pot announced by financial giant JP Morgan today. The authorities will take around £300 million from JP Morgan alone due to the introduction of the UK banking bonus tax. When you consider this could be replicated across the larger UK financial institutions when they also announce their bonus packages, the UK government could end up gene...Read More