Prudential talking to buy Equitable's 7-billion-pound worth annuities
The second largest life insurer in Britain, Prudential Plc., is negotiating to buy 7-billion-pound worth of annuities from ailing mutual insurer Equitable Life, according to industry sources. Both the companies refused to comment on the news.
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Mon, 14 Nov 2005 09:00 GMT |
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Allianz posts 39 percent increase in Q3 pre-tax profits
FRANKFURT - Allianz AG, Europe's biggest insurer has announced an increase of 39 percent in the third-quarter pre-tax profits to €1.66 billion. This is in line with expectations even though the company was hard hit by the twin hurricanes in the United States Gulf Coast region, which cost it an estimated €753 million.
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Sun, 13 Nov 2005 06:45 GMT |
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Repositioning causes Standard Life’s revenues to decline
LONDON: Europe’s largest mutual insurer Standard Life yesterday confirmed analysts’ belief that the firm was deliberately causing sales to decline this year so that it could project strong sales growth at its planned listing on the FTSE 100 next year.
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Thu, 10 Nov 2005 16:15 GMT |
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Police can seize cars driven by uninsured drivers, dispose of them
The police are now vested with powers to seize and even destroy vehicles driven by uninsured drivers. The officers will use automatic number plate recognition cameras, which are connected to a database that has details of all registered vehicles in the U.K.
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Wed, 09 Nov 2005 16:15 GMT |
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Financial firms under scrutiny over PPI
Financial services firms that sell Payment Protection Insurance (PPI) have been told to tighten their screws regarding their selling methods by the Financial Services Authority (FSA). They had to resort to this extreme measure as a third of the 45 firms surveyed had sold policies to customers who could not claim on them.
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Sat, 05 Nov 2005 16:15 GMT |
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Aviva’s nine-month sales up 10 percent
LONDON - Britain's biggest insurer, Aviva announced on Thursday that 9-month sales increased by 10 percent, but these were at the bottom end of expectations. However, the strong growth on the European mainland compensated for the 3 percent fall in business in Britain.
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Mon, 31 Oct 2005 06:45 GMT |
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TCS snaps up outsourcing deal with Pearl
Tata Consultancy Services (TCS) has bagged a grand £486-million contract for 12 years, from the insurance and pension business group, Pearl.
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Thu, 20 Oct 2005 00:35 GMT |
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ABI tells customers to file for compensation ‘directly’
A leading body has asked customers claiming to have been ‘mis-sold’ policies to complain right away to the company that handed over the policy to them instead of knocking on a claim firm’s doors for compensation.
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Wed, 19 Oct 2005 18:40 GMT |
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Aviva raises profit target as RAC insures higher cost savings
Aviva has raised profit forecasts as its recently acquired motor services company, RAC, has helped it amass higher savings in costs along with high gains in revenues, pushing the insurer’s shares at a two-month high, up 2.1% at 635 pence.
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Tue, 18 Oct 2005 19:20 GMT |
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Equitable Life settles with two other directors
LONDON - UK mutual insurer Equitable Life today dismissed charges against two more of its former directors that it is suing alleging that they were negligent during their tenure at the company.
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Tue, 11 Oct 2005 08:05 GMT |
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