Lloyds TSB rumours: Scottish Widows swap for Allianz’s Dresdner Bank
by Gill Montia
Story link: Lloyds TSB rumours: Scottish Widows swap for Allianz’s Dresdner Bank
Allianz’s auction of its German banking division is reported to be attracting a bid from Lloyds TSB.
In March of this year, Munich-based Allianz restructured its Dresdner Bank subsidiary, which includes investment division Dresdner Kleinwort, in preparation for a sale.
Allianz acquired Dresdner Bank in 2001 and while the latter’s private and corporate business has produced sound […]
50% fall in profits for Lloyds TSB
by David Masters
Story link: 50% fall in profits for Lloyds TSB
Lloyds TSB Insurance saw profits fall by nearly 50% for last year in the wake of January’s storms and the summer floods.
The division achieved pre-tax profits for 2007 of £128 million, compared to £243 million in 2006.
The January storms cost the business £12 million, whilst the summer floods in June and July cost a total […]
Insurers drop Tradedoubler for internet sales
by Wenonah Lyon
Story link: Insurers drop Tradedoubler for internet sales
Major insurance companies such as RBS, Lloyds, and Prudential, are all downsizing their internet affiliate programs, and either restricting access to them, or else moving to smaller exclusive agreements with different affiliate networks.
Most affected by this is Tradedoubler, one of the UK’s largest affiliate networks, which has lost most of its insurance affiliate programs, with […]
Heavy plant extended warranty provider EPG gain Lloyd’s status and aim to expand into Europe in 2008
by Richard Kilner
Story link: Heavy plant extended warranty provider EPG gain Lloyd’s status and aim to expand into Europe in 2008
EPG Insurance Services Limited has been conferred by Lloyd’s with the official status of broker.
The firm is looking to grow its operations throughout both the UK and Europe and is anticipating the demand for its specialist auto and machinery insurance to soar in 2008 when extensive programmes of home and commercial building begin, enabling EPG […]
Advent Capital Profits Up To £13m
by Stewart Douglas
Story link: Advent Capital Profits Up To £13m
Lloyd’s insurer Advent Capital has today unveiled a 50% rise in profit figures for the third quarter of the year, reflecting a significant rise in revenues with more efficient operative cost centres for the period.
The firm announced today an increase in profits from £8.2 million over the third quarter last year to £12.9 million over […]
Lloyd’s give £450,000 to new charity partners
by Richard Kilner
Story link: Lloyd’s give £450,000 to new charity partners
Samaritans, Coram and FARM-Africa have been named by Lloyd’s as its partner charities from 2007 to 2010, with each charity receiving £150,000 over that time period from Lloyd’s Charities Trust (LCT).
The Samaritans project “Skills for Life”, which supports young people dealing with emotional and/or mental health issues, will be one beneficiary of the LCT’s grant.
Coram […]
Russian Insurance Could Increase In Value To $40 billion by 2010
by Stewart Douglas
Story link: Russian Insurance Could Increase In Value To $40 billion by 2010
The valuable Russian insurance market was today forecast to grow to over $40 billion by the end of the decade according to a report published today by Lloyd’s, which will see it maintain growth at a rate of 16% on each year.
According to the report released by Lloyd’s the size of the Russian reinsurance market […]
Lloyd’s Look To Graduates For Fresh Blood
by Stewart Douglas
Story link: Lloyd’s Look To Graduates For Fresh Blood
Lloyd’s has today publicly announced the launch of its graduate employment programme which will take in a starting crop of 10 university graduates as of September next years as it looks to bring in fresh young faces to insurance sectors.
The announcement comes as part of Lloyd’s commitment to reinvesting in the insurance market through encouraging […]
Lloyd’s launch graduate recruitment drive
by Richard Kilner
Story link: Lloyd’s launch graduate recruitment drive
A new graduate recruitment drive has been launched by Lloyd’s to reinvigorate the insurance sector with fresh ideas and initiative.
The programme, lasting a year and a half, begins in September 2008 with an initial group 10 graduates to be rotated through Lloyd’s.
Richard Ward, the firm’s chief executive, has said that the drive’s purpose is to […]
Lloyd’s Post Healthy Half-Term Profits
by Stewart Douglas
Story link: Lloyd’s Post Healthy Half-Term Profits
Lloyd’s has today announced healthy interim profit figures gross of tax, topping £1.8 billion for the first half of the year 2007 to the end of June, largely as a result of favourable market conditions.
The figures released today far surpass the earnings of the same period last year, which saw it realise interim profit figures […]
Lloyd’s expands China Re business
by Gill Montia
Story link: Lloyd’s expands China Re business
Lloyd’s has expanded its Chinese business with the addition of S A Meacock & Co, the managing agent.
The reinsurance operation, which was set up by Lloyd’s in April of this year, now has 11 members, with S A Meacock the latest agent to join the platform.
So far, the business has attracted many significant players in […]
NU adds 10% to home insurance premiums
by Gill Montia
Story link: NU adds 10% to home insurance premiums
Norwich Union (NU) will be increasing its domestic property insurance premiums by an average of 10%, from mid-August.
The company, which forms part of the Aviva group, is the UK’s largest household insurer, covering around one in five dwellings in the UK.
NU says that the increase is not linked to the recent floods and that the […]
Abbey Life for Sale
by Gill Montia
Story link: Abbey Life for Sale
Abbey Life, the closed life insurance company, is being sold by Lloyds TSB for an estimated £1 billion.
There are reports of strong interest in the business from three contenders: Resolution, the life market consolidator, Swiss Re, the Swiss-based reinsurer, and Pearl Group.
All three are believed to have submitted indicative offers to Lehman and […]
Lloyd’s of London offer insurance after Virgin steps in
by Brian Turner
Story link: Lloyd’s of London offer insurance after Virgin steps in
Due to the intervention of thousands of people signing a petition and of Sir Richard Branson, the last functioning B-17 bomber in Europe will be able to participate in a fly-over during the commemoration of the 60th anniversary of the end of World War II.
Lloyd’s of London offered three-months insurance coverage to the […]
