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UK car market sees continued growth
- 04/09/2015
- Posted by: Simon Wait
- Category: News
The new car market recorded its 42nd consecutive month of growth in August – albeit in one of the year’s quietest months – according to figures published today by the Society of Motor Manufacturers and Traders. New car registrations increased 9.6% to 79,060 for the month, taking year-to-date growth to a healthy [...] -
UK pension savings at record high
- 03/09/2015
- Posted by: Simon Wait
- Category: News
According to the ONS, more than half (59.4%) of employees were members of a workplace pension in 2014, up from 49.8% in 2013 and the total of 46.5% in 2012, and the highest since 1997. The overall growth was driven by auto-enrolment and increases in membership of occupational defined contribution (DC), as well as [...] -
Innovation Group agree to Carlyle takeover
- 01/09/2015
- Posted by: Simon Wait
- Category: News
Insurance software provider The Innovation Group PLC has agreed to a £499m takeover bid from private equity firm Carlyle Group. Under the agreement, the London-listed company will receive 40p per share in cash, which represents a 13.5% premium to Innovation's closing price on Thursday. It has been agreed after [...] -
Innovation Group confirms Carlyle Group takeover talks
- 28/08/2015
- Posted by: Simon Wait
- Category: News
Insurance software provider The Innovation Group PLC has confirmed advanced talks with private equity firm Carlyle Group over a potential offer valuing it at 40 pence per share. The company provides motor and property claims process services, enabled by specialist software technology that it also sells on a [...] -
Slater & Gordon claims commanding UK market share
- 28/08/2015
- Posted by: Simon Wait
- Category: News
Slater & Gordon has ‘a commanding market share lead’ in the UK, its managing director claimed today as the Australian-listed law firm announced a 27% in annual revenues to £243m. Its ever-expanding UK operation contributed £121m of this, excluding the first month’s contribution from Quindell’s [...] -
Hastings post half year results
- 27/08/2015
- Posted by: Simon Wait
- Category: News
Hastings has posted an increase in GWP which hit £282.7m for the first half of 2015 (H1 2014: £227.2m). COR for the business also marginally improved moving from 90.4% to 90% while customer numbers increased 17% to 1.9m (H1 2014: 1.6m). Gary Hoffman, chief executive, commented, ‘These results are further [...] -
Tantalum open to Quindell takeover
- 17/08/2015
- Posted by: Simon Wait
- Category: News
Tantalum, a company owned by City financier Edi Truell, still wants to buy Quindell even though the Serious Fraud Office has launched a criminal investigation into the scandal-hit firm. Chief executive of Truell’s telematics venture Tantalum, Cedriane de Boucaud, said revelations Quindell had overstated its [...] -
RSA exit personal lines motor market
- 13/08/2015
- Posted by: Simon Wait
- Category: News
Insurance provider RSA, has confirmed it is to withdraw fully from the personal lines broker motor market, ceasing to write new and renewal business from 1 November 2015. The move follows the insurer in May 2014 announcing it was exiting all motor-only personal lines broker relationships. Post reported 800 brokers [...] -
Whiplash comeback sees insurance costs increase
- 11/08/2015
- Posted by: Simon Wait
- Category: News
Drivers are expected to face a 15 per cent rise in car insurance costs this year due to the recent rise in fraudulent whiplash claims. Insurance executives believe unscrupulous claims management firms, lawyers and doctors have discovered loopholes in new laws that were designed to end the scandal. Industry [...] -
Esure premiums set to rise
- 10/08/2015
- Posted by: Simon Wait
- Category: News
Online insurance firm Esure has said its premiums are set to rise after an increase in small injury claims. Shares in the firm fell more than 9% after half-year underlying pre-tax profits slid 21.3% to £46.5m. The drop was in part due to profits in the firm's motor insurance business falling 80.7% to [...]