Zurich announces quartet of appointments
by Richard Kilner
Story link: Zurich announces quartet of appointments
Zurich Financial Services Group has announced a quartet of senior appointments to Zurich’s and Santander’s Madrid-based joint-venture holding company. The appointments to the company, which will be named Zurich Santander Insurance America, S.L., are made in the light of the Zurich-Santander Latin American alliance announced earlier in 2011. Javier Lorenzo is named as general manager, [...]
Zurich bolsters Latin American presence
by Richard Kilner
Story link: Zurich bolsters Latin American presence
Zurich Financial Services Group has announced that it has closed the acquisition of 51% participation in the life insurance, pension and general insurance operations of Santander in Brazil and Argentina. Zurich and Santander have recently entered in a 25 year strategic distribution arrangement in Latin America. The deal includes Zurich acquiring a 51% participation in [...]
Zurich and Santander form Latin American alliance
by Richard Kilner
Story link: Zurich and Santander form Latin American alliance
Zurich Financial Services Group has announced that it has signed a Memorandum of Understanding with Spanish banking giant Banco Santander by which the two firms have entered into a 25 year strategic distribution arrangement in Latin America. Under the terms of the deal Zurich acquires a 51% stake in Santander’s life insurance, pension and general [...]
Confused.com adds to motor insurance panel
by Gill Montia
Story link: Confused.com adds to motor insurance panel
Confused.com has added five brands to its list of motor insurance providers. Make-specific providers including Honda, Nissan and Renault now feature on the price comparison site, as well as Santander and Magic Quote, which is a brand from the Adrian Flux insurance group. The latter specialises in customers that can be difficult to place, such [...]
Aviva operating profit up 21%
by Gill Montia
Story link: Aviva operating profit up 21%
Aviva has reported strong first-half results, with IFRS operating profit up 21% on a year earlier, to £1.27 billion. Long-term savings new business sales rose by 4%, to £20.2 billion, and the group increased its internal rate of return to 12%, having reduced costs by 4%. The UK and Europe accounted for over 80% of [...]
Santander promotes home insurance with mortgage offer
by Gill Montia
Story link: Santander promotes home insurance with mortgage offer
Santander is promoting its “Peace of Mind” home insurance with an offer to its mortgage applicants and borrowers. They need only request a full home insurance quote from the lender by 7th March to be entered into a prize draw that could relieve them of monthly mortgage repayments of up to £1,000 for a year. [...]
AIG merges Polish consumer finance unit with Santander
by Gill Montia
Story link: AIG merges Polish consumer finance unit with Santander
American International Group (AIG) has announced that it is combining its Polish consumer finance business with the Polish consumer finance business of Santander. The AIG business is conducted through AIG Bank Polska while Santander’s consumer finance operations in the country are carried out by Santander Consumer Bank (SCB). The move gives AIG a 30% equity [...]
UK Government rescues Bradford & Bingley
by David Masters
Story link: UK Government rescues Bradford & Bingley
The British Government has confirmed that tormented mortgage lender Bradford & Bingley (B&B) is to be nationalised whilst its savings arm will be sold to Spanish bank, Santander. Chancellor of the Exchequer Alistair Darling said this morning that the Government ‘acted immediately’ to protect the bank’s customers and to ensure the stability of the financial [...]
