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.
Short-term reduction in car insurance premiums
In a surprising development the AA has revealed a fall of 3.2% in car insurance premiums in the first three months of 2010. This compares to an increase of 18.7% during the whole of 2009 with the average cost of comprehensive car insurance cover now standing at £968. So what does the rest of 2010 hold for the UK car insurance industry? Unfortunately, UK motorists are likely to be hit with an i...Read More
Reduce your insurance costs in a second
While the cost of insurance appears to increase year on year and has for many people reached a level where they are now struggling to finance their insurance, there are simple ways you can reduce your insurance costs. One of the easiest ways to reduce your annual insurance costs is to pay a one-off premium rather than 12 monthly staged payments. It is common knowledge that the difference betwee...Read More
UK government to challenge EU over insurance rules
The UK government is set to challenge the EU commission head-on with regards to solvency II rules which are set to be introduced to the European marketplace in the short term. The UK government believes that these "over conservative" solvency rules will see UK insurance companies having to shore up their reserves by up to £50 billion. There will obviously be a cost to this additional reserve requ...Read More
Insurance is a product designed to protect you against financial loss in the event that something unexpected happens. It is common place for people to ensure items and belongings that are of a high value, either in terms of their financial or sentimental importance to a person. Common insurance products include life insurance, income protection insurance, pet insurance, car insurance, phone in...Read More
Disabled holidaymakers advised to check travel insurance
Disabled holidaymakers have been advised to check their travel insurance to make sure it covers key areas. Brian Seaman, head of consultancy at Tourism for All, said individuals with a disability should ensure they have enough medication with them to last the trip and to check any accommodation they plan to stay in has sufficient facilities to cover their needs. He noted: "You may need to ask a fe...Read More