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.
Homeowners can reduce home insurance premiums, says ABI
There are plenty of proactive steps homeowners can take to cut their home insurance premium, according to Jonathan French, assistant director of media relations at the Association of British Insurers (ABI).ABI figures show that the UK insurance industry paid out £64 million per day in 2006 in general insurance claims, including £9 million to householders for property damage or the loss of posses...Read More
Why paying your car insurance monthly could cost you an extra 40%!
A report by the AA has confirmed that motorists in the UK who pay their car insurance premiums monthly are paying the price in more ways than one. It has been revealed that some car insurance companies are adding up to 40% to the cost of a basic car insurance quote if the motorist decides to pay monthly. As a consequence the average annual car insurance premium of £778 (up 11% over last month) co...Read More
Lloyd's of London unveils profits slump
Lloyd's of London, the largest insurance market in the world, has today reported a slump in first-half profits from £1.3 billion in the same period last year to £628 million. It seems a number of catastrophes have come together to create another nightmare scenario with the Chilean earthquake, BP oil disaster and a number of other issues coming to the fore. These first-half catastrophes are th...Read More
Equitable Life chief executive urges policyholders to accept compensation
Chris Wiscarson, the chief executive of Equitable Life, has today stepped into the mix with regards to the ongoing compensation claim being handled by the UK government. It is believed that customers lost in the region of £4 billion - £4.8 billion when Equitable Life was forced to renege on a number of promises on some of its investments. However, the chief executive of the Equitable Life believ...Read More
Most car insurance companies accepting dashcam footage
07/05/2015 The majority of UK car insurance companies are now accepting dashcam footage as evidence in disputed claims. Dashcams are small cameras that are placed on the driver’s dashboard or windscreen in order to film what is happening on the road ahead of them. Research by Nextbase found that 29 UK car insurance providers would be willing to use dashcam footage as evidence in a disp...Read More