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Hastings to list on the stock market
- 15/09/2015
- Posted by: Simon Wait
- Category: News
Motor insurance provider Hastings is to float on the stock market as it expands the business in a bid to attract more than 2.5 million customers by the end of 2017. The company hopes to raise £180m by issuing new shares, while some of its existing shareholders, including the group's founders, will also sell off a [...] -
Vista Equity to buy Solera for $3.74 billion
- 14/09/2015
- Posted by: Simon Wait
- Category: News
Solera Holdings Inc, which provides claims processing software to insurance companies, said it agreed to be acquired by an affiliate of private-equity firm Vista Equity Partners for $3.74 billion in cash. Vista expects the transaction to enhance its position as an acquirer of data companies and enterprise [...] -
New car finance volumes up 13%
- 11/09/2015
- Posted by: Simon Wait
- Category: News
Figures released today by the Finance & Leasing Association (FLA) show the number of new cars bought by consumers on finance provided through dealerships increased by 13% in July, compared with the same month last year. The percentage of private new car sales financed by FLA members through dealerships in the [...] -
Solera engage in buyout talks
- 11/09/2015
- Posted by: Simon Wait
- Category: News
Insurance claims processing software maker Solera Holdings is in advanced talks with private equity firms Thoma Bravo and Vista Equity Partners to sell itself, according to reports from Reuters. Solera is nearing a deal to sell itself for about $53 per share, which would value the company at about $3.6 billion [...] -
Lloyd’s first-half profit falls 28%
- 10/09/2015
- Posted by: Simon Wait
- Category: News
Lloyd’s of London saw its profits fall 28 per cent in the first half of the year. Profits came in at £1.19bn, down from £1.65bn in the same period of 2014, despite turnover rising by 7 per cent. The market’s combined operating ratio (COR) deteriorated by 2.1 percentage points to 89.5% (H1 2014: [...] -
Axalta announce new global innovation centre
- 10/09/2015
- Posted by: Simon Wait
- Category: News
Axalta Coating Systems announced that its new Global Innovation Centre will be located at The Navy Yard in Philadelphia. The 175,000 square foot facility will be home to Axalta’s global research, product development, and technology initiatives and partner with the Company’s other technology centers in the [...] -
Mitsui Sumitomo to buy Amlin for £3.7m
- 09/09/2015
- Posted by: Simon Wait
- Category: News
Japanense firm Mitsui Sumitomo Insurance Co. has agreed to buy UK insurance company Amlin PLC for £3.47 billion ($5.3 billion), in the latest consolidation of the global insurance market. The companies said Amlin shareholders would receive 670 pence a share in cash, a 36% premium over its closing price [...] -
LV= group post interim results
- 08/09/2015
- Posted by: Simon Wait
- Category: News
Mutual insurance group LV=, the UK’s largest friendly society, has announced its interim results for six months ending 30 June 2015. General Insurance financial highlights: Operating profit up 52% to £70 million (H1 2014: £46 million) Underwriting profit increased by 152% to £53 million (H1 2014: £21 [...] -
Markerstudy acquires Lionheart Insurance
- 04/09/2015
- Posted by: Simon Wait
- Category: News
Motor insurance provider, Markerstudy, has acquired Birmingham-based Lionheart Insurance for an undisclosed sum. The deal, which has received approval from the Financial Conduct Authority, adds over 1,500 policyholders and more than £2m of premium to Markerstudy's retail arm. Directors, David and Alison Wilkes [...] -
Co-operative makes general insurance loss
- 04/09/2015
- Posted by: Simon Wait
- Category: News
The Co-operative's general insurance division has reported a 4.5% fall in gross written premiums for the first half of 2015. The drop to £180.3m from £188.8m at the start of 2014 came as it declared an operating loss of £17m. However, the insurer highlighted that it had incurred £17.3m of ‘transformation [...]