Occupational funds win EU rules reprieve
Occupational pension funds have won a reprieve from a European regulatory overhaul that they feared would have had disastrous consequences for scheme members in several countries as well as the…
Insurers brace for Oklahoma tornado costs
The tornado that ripped apart a suburban swath of Oklahoma City is expected to rank among the five most costly for insurers in the US since records began in 1950.…
Cloud lifts from UK banks as review ends
Damp squib or analytical pragmatism? That was the verdict being weighed up by observers on Wednesday, as Britain’s two part-nationalised banks – Royal Bank of Scotland and Lloyds Banking Group…
Homeserve expects to pay smaller fines
Homeserve’s shares jumped more than 10 per cent as the company revealed a smaller than anticipated £6m provision for legal costs and fines it is expected to incur for mis-selling…
Co-op’s retiring chief skips annual meeting
The Co-operative Group sought to draw a line under its recent troubles as Peter Marks, retiring chief executive, opted not to attend its annual meeting. The Group said it did…
Overhaul at Equity Insurance puts jobs at risk
A private equity house set up by the son of former AIG chief Hank Greenberg is preparing to wind down or dispose of big chunks of a UK motor insurance…
CPP chief to go as part of job cuts
CPP, the troubled credit card insurer, is planning to shed hundreds of staff – including its chief executive and finance director, who have said they will leave as soon as…
Pru and Resolution avoid rebellion
Further evidence that UK-listed companies were avoiding a repeat of last year’s shareholder rebellions came on Thursday, when two FTSE 100 insurance groups encountered only minor dissent over executive pay.…
Calls for annuity website review
The Financial Conduct Authority (FCA) is being urged to launch an immediate review of the fast-growing direct sale annuity market amid concerns consumers may be unaware of the costs involved…
Aviva steps up drive for cost cuts
The new chief executive of Aviva has indicated that the insurer – which slashed its dividend this year – is planning to cut costs by more than the £400m it…
Insurers to extend flood cover for a month
©AP Rescue services navigate flood waters after the River Wansbeck broke its banks in Morpeth Insurers have agreed to provide coverage to households at high risk of flooding for an…
S&P downgrades Berkshire Hathaway
Billionaire investor Warren Buffett suffered a rare blow on Thursday after Standard & Poor’s cut his investment vehicle’s credit rating, citing an over reliance on its insurance business and raising…
Zurich Insurance open to ‘extra risk’
Zurich Insurance is opening up to riskier investments to offset the impact of persistently low interest rates after its first-quarter results fell short of expectations. In the first three months…
Greek bond yields fall on Fitch upgrade
Greece’s government bond yields tumbled to their lowest level in three years on Wednesday after an unexpected upgrade stoked optimism that the first and biggest casualty of the eurozone crisis…
Top RSA shareholder criticises board
A top-10 shareholder in RSA has publicly rebuked directors of the FTSE 100 insurer, criticising allegedly close ties with the firms that scrutinise the company’s accounts as well as their…