Should Aviva have mentioned the RSA approach?
The management of Aviva is this weekend under immense pressure from leading shareholders over the non-disclosure of an approach by RSA and a potential £5 billion offer for the company's general insurance business. Many believe that this highly sensitive piece of information should have been released into the public domain instead of being brought to the attention of the market by the financial press.
Even though many believe that the £5 billion offer for the general insurance business was very much on the "light side" it may well have offered a starting point for serious negotiations. Whether or not RSA comes back into the reckoning with an official offer or the two parties agree to further discussions remains to be seen but there is today immense pressure on the Aviva management. On the flipside of the coin you could also argue why RSA management did not disclose the approach (to Aviva) to its shareholders?
There is no doubt that many offers are made which can be ignored or immediately binned but an offer of around £5 billion must surely warrant some form of further discussion?
In defence, the Aviva management has reiterated its own stance with confirmation that the company intends to retain the general insurance business and grow it in the future.
Alastair Darling defends his national insurance increase
Chancellor of the Exchequer Alastair Darling has today again defended his move to increase national insurance in 2011. This comes after the Conservative party announced a partial U-turn on the proposed increase by the Labour Party with those earning less than £45,400 a year to be protected from an increase in national insurance tax. The Labour Party has hit back with suggestions that the Conserva...Read More
Insurance comparison websites are failing customers
16/07/2014 Insurance comparison websites are not giving consumers the “appropriate information to make informed decisions”, according to the Financial Conduct Authority (FCA). The FCA reviewed 14 comparison sites and said that some of them were failing to meet regulatory standards. They said that comparison sites focused too much on price, rather than the different features each insur...Read More
Check your insurance, Brits driving to Ireland are advised
Despite the travellers from the UK are able to drive freely in the Republic of Ireland using a British driving license, those heading across the Irish Sea with their cars should check the content of their motor insurance policies before travelling, one provider has advised.AA Ireland spokesman Thomas Brosnan has reminded motorists to check the extent of their cover before heading to the country.Wh...Read More
Country residents 'not saving or taking out life insurance'
Many rural residents are not putting money aside in savings, insurer NFU Mutual has claimed.Research from the firm found that just 25 per cent of country dwellers are saving - while, by contrast, 20 per cent are spending more than they earn each month.This could lock the residents into a debt spiral, with the big spenders finding themselves unable to meet credit repayments.Moreover, 44 per cent sa...Read More
When should you realign your assets?
Over the last few months the UK stock market has performed admirably even though the UK economy has not matched this particular feat. However, a number of investors in the UK have seen their investments rise significantly over the short to medium term and many are now starting to look into potentially realign their assets and possibly taking profits where possible. This prompts the question, when...Read More