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.
Irish authorities place Quinn Insurance into administration
The Irish financial regulatory authorities have today placed Quinn Insurance Ltd, one of Ireland's largest insurance companies, into administration amid unclear matters which have come to light after an investigation of the company. However, the company, founded by one of Ireland's richest investors Sean Quinn, believes it could have corrected the mystery issues without being placed into administr...Read More
KPMG Slated Over Fall of Independent Insurance
Led by the enigmatic Michael Bright, Independent Insurance was one of the darlings of the City for many years, producing figures which not only seemed to go against market trends, but seemed just too good to be true. Ultimately this proved to be the case with the company suddenly collapsing in 2000 with the loss of hundreds of jobs.
As well as the job losses, the Financial Services...
Sickness benefit for the self-employed
As more and more people in the UK look to work online and potentially work for themselves from home we have seen an increase in the number of sole traders and small business operations. However, while there are many benefits to working for yourself and working from home there are also a number of potential pitfalls that you need to be aware. Sickness benefit is an area which is often left unexplor...Read More
Is it time to review your car insurance?
If there is one area of the insurance market which continues to attract the wrath of UK consumers it has to be the car insurance sector. This is an area of the insurance market where premiums constantly seem to go higher and higher with legally insured drivers also paying the price, and the cost, of those who drive on the UK roads without insurance. So is it time to review your car insurance? M...Read More
'Variety' of ways to cut car insurance costs
Norwich Union has insisted that many people do not realise that there is a wide range of options available to them to help cut their car insurance premiums.The car insurance company has stated that one of the best ways to cut car insurance costs is to buy online.Erik Nelsen, a spokesperson for Norwich Union, explained: "There's a whole variety of things you can do to get your motor premiums down....Read More