Royal Bank of Scotland on the verge of Direct Line sale
Despite the fact that Royal Bank of Scotland had initially wanted to sell its Direct Line insurance division in 2012 via an IPO it is believed the company is on the verge of announcing a trade sale very soon. There is speculation that figures such as Warren Buffett, the investment guru, have already stepped forward to show their interest in what is a quality operation.
It seems rather strange that Royal Bank of Scotland is effectively being forced to sell the family silver because of the way it was rescued by the UK government. However, these are the rules of the EU and the bank and the UK government have been forced to abide by them. There is no doubt that many interested parties will step forward in the knowledge that the company is a "forced seller" and cannot therefore in theory hold on for the best price.
When you also consider the company is also being forced to sell its Churchill Insurance operation it is highly likely that Royal Bank of Scotland will exit this particular area of business in the future. This is a company which is slowly but surely being stripped of its former jewels as a consequence of the deeply damaging credit crunch.
So Who Will Pay For The Equitable Life Mistakes?
As the Equitable Life debacle continues to gather pace it seems as though Alistair Darling is doing his best to kick the issue into the political long grass for another time. Not one single member of the government has formally commented on the recent report which called on the government to compensate victims to the tune of £4 billion.
The thorough investigation into the incident...
Banks still “paying the price” for PPI scandal
11/09/2015 Banks are still “paying the price” for the PPI scandal 10 years after the problem erupted, according to Citizens Advice. Since the problem was first discovered, the UKs banks have paid over £20 billion in compensation. This figure is only set to grow as people continue to seek guidance from Citizens Advice about being mis-sold PPI. People who had been sold PPI policies we...Read More
Diabetes and Life Insurance
Life insurance policies for diabetics can be hard to obtain but they are still available. A major factor in the cost of obtaining a life insurance policy is how well an individual's condition is managed. With good blood glucose control, a healthy and active lifestyle and few complications, finding a good deal is achievable.
Diabetes falls into two major categories: Type 1 an...
PPI removed from financial sector as of today
Payment Protection Insurance (PPI), the controversial insurance which has proved very lucrative for many financial institutions throughout the UK is today banned from sale in the country. The Financial Services Authority (FSA) recently acted upon the advice of a prominent report into PPI and the problems related to this particular investment vehicle.
In essence, the vast majority of...