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!
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Gordon Brown forced to reconsider national insurance rise in 2011
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Millions risk insurance by using their car for work
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'DIY' holidaymakers risk travel cover
Around eight million UK tourists risk being stranded during the summer because they are not covered by Air Travel Organisers' Licensing (Atol) travel protection.Most traditional travel agents automatically cover holidaymakers with Atol protection, which should ensure that tourists are escorted home and reimbursed should their agent cease trading.'DIY' tailored holidays from independent agents do n...Read More