Mergers and acquisitions expected in the UK insurance sector
Over the last few days the ongoing dispute between Aviva and the RSA has dominated the headlines and many people believe that the insurance industry is very much primed for a number of mergers and acquisitions in the short to medium term. Royal Bank of Scotland is already under pressure from the European Union to dispose of its Direct Line and Churchill insurance operations in the short to medium term. These operations are certain to attract the attention of insurers in the UK and while we are unlikely to see any aggressive bidding due to the economic environment there is no doubt there will be a number of parties interested.
This is just the tip of the iceberg with regards to the UK insurance sector where the Resolution Group is planning to create a business worth in excess of £10 billion. We could also see some of the major insurance companies in the UK looking to merge their operations as a means of streamlining the cost for the future and enabling them to focus on new markets and new opportunities in the medium to longer term. The markets are currently awash with rumours and counter rumours with some very interesting suggestions in the pipeline!
Young drivers lack basic car know-how
Young drivers fork out £140 million every year in car maintenance due to their lack of basic mechanical know-how, new research suggests.According to the study carried out by Direct Line, half of all drivers under 25 do not know how to jumpstart their car or replace a tyre, compared to 25 per cent of drivers aged 45 or over.Nearly one in three admitted to paying to have their oil changed, while 25...Read More
Are Insurers Pricing New Drivers Off The Road?
For those who have been driving for 20 years or more, the car insurance market of today bears very little resemblance to the one of two decades ago. Prices are much higher, cover seems to be less comprehensive and the cost of cover seems to rise substantially each year. However, cast your mind back to the days when you were learning to drive - did your parents add you onto their insurance to lea...Read More
Don't soup up your sierra, kids
Younger drivers are always going to pay higher car insurance costs than older, more experienced drivers, but the British Insurers Brokers' Association (BIBA) says that souping up your car will just pump up your premium further.BIBA says it is advisable to buy a smaller, cheaper car, which is less likely to do major damage to other vehicles on the road should an accident occur, but although the tem...Read More
Budget Headlines : Trade credit insurance to be matched by authorities
Trade credit insurance to be matched by authorities...Read More
3.8m families 'a single pay check from losing their home'
15/04/2014 Almost 4 million families only have enough savings to pay a single month of mortgage repayments or rent, meaning they would be likely to lose their home if they found themselves out of work. Homeless charity Shelter surveyed 7,500 people and found that many people were living with the prospect of losing their home if they found themselves out of work.