Lloyds Banking Group
RBSI ousts Esure as Sainsbury’s signs up new motor insurance underwriter
Royal Bank of Scotland Insurance has won a multi-million pound contract to replace Esure as motor insurance provider to Sainsbury’s Finance.
RBSI ousts Esure to win Sainsbury’s Finance contract – Insurance News Now – 24 March 2011
Post news editor Mairi MacDonald outlines this week’s major general insurance stories including the decision by Sainsbury’s Finance to replace its current motor insurance provider Esure, with Royal bank of Scotland Insurance.
Acquisition-hungry Swinton spells out 2011 buy strategy
High street broker Swinton is targeting at least 25 acquisitions in 2011, after completing five such deals so far this year.
Kane to leave Lloyds Banking Group
Archie Kane is to retire from his position as Lloyds Banking Group executive director as part of a management restructure.
Broker focus – private equity: the start of a broader movement?
2011 has already seen one major broking private equity deal involving Towergate. Rachel Gordon assesses whether this is likely to be a one off, or the start of a broader movement within the intermediary market.
LBG sees slight rise in pre-tax profit
Lloyds Banking Group's general insurance business pre-tax profit in 2010 was £372m marking an increase of 1% on the 2009 result (£367m).
Lloyds Bank GI profit rises 1% to £372m
Lloyds Banking Group this morning reported that its profit before tax and fair value unwind from general insurance increased by 1 per cent to £372m in 2010.
Towergate concludes refinancing deal and cuts debt by £100m
Towergate Partnership has announced the completion of its refinancing and £200m investment from private equity firm Advent International.
Towergate secures £520m bond issue
Towergate’s bond issue has been oversubscribed by as much as ten times, Post Online has learnt.
Former UKDN employee lied
A former UK Drainage Network employee has been forced to retract claims that the company handed over shares to land a fulfilment contract, after admitting the allegations were false.
Nationals call for FSA talks as Towergate seals £200m deal
Chief executives from some of the UK's largest brokers have called for a meeting with the Financial Services Authority to discuss concerns over the increasing level of intervention in compliance issues by the regulator.
News analysis - Towergate refinancing: Towergate to kick into full IPO mode
With confirmation of Advent's £200m cash injection, what does Towergate have planned next? Mairi MacDonald explores the options.
Lloyds insurance boss quits after 12 months for Friends role
Lloyds Banking Group's CEO of general insurance Andy Briggs is to leave to become CEO of Friends Provident.
Oval nabs HBOS financial services team
Oval has recruited seven consultants from HBOS, the investment arm of Bank of Scotland Investment Services.
Lloyds TSB seeks travel underwriter
Lloyds TSB has kicked off a tender process as it considers whether to replace the existing underwriter of its travel insurance products.
ABI calls on insurers to participate in HR study
The Association of British Insurers has urged insurers to take part in the latest Insurance HR Benchmarking survey.
Higos appoints branch director
Higos Insurance Services has appointed Chris Scott as retail branch director.
Aussie giant Wesfarmers stalks Barbon in UK push
Wesfarmers is poised to become the latest Australian financial services giant to make a serious play for the UK market with a sizable acquisition.
High net worth - distribution: Defending their niche
Following reports in Post that the mid and high net worth markets have been experiencing an increase in competition and downward pressure on rates, Ralph Savage discusses what reaction this has elicited from insurers and brokers in terms of their…
Esure reveals earliest date for an IPO will be 2014
The founder and chairman of direct insurer Esure Peter Wood has revealed that 2014 is the earliest that it will launch an initial public offering.
Hastings eyes PL top 5 as GWP exceeds £250m
HASTINGS Direct has upgraded its plan for business growth ahead of a proposed flotation in 2012.
Thousands more redundancies to come at Lloyds Banking Group
Unions have accused Lloyds Banking Group of letting down staff and customers in its decision to cut 4500 jobs in the UK.
Legal & General reveals that Finch will take over as general insurance MD
Legal & General has revealed that Duncan Finch will replace Peter Graham (pictured) as managing director of its general insurance business.