Insurance

Blog: There’s method in the Standard Life Aberdeen madness

Things are moving fast over at the newly merged Standard Life Aberdeen. The very first results for the combined company hit the wires this morning and, finally, a clear strategic direction is emerging. Overall, there were net outflows. Not a great start, particularly given Scottish Widows’ parent Lloyds’ decision to pull its £109bn mandate earlier […]

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Failed Scot Wids Standard Life insurance merger talks behind £109bn blow

A breakdown in talks to merge Lloyds’ Scottish Widows arm with Standard Life’s pension and life insurance business led the high street bank to pull £109bn from the asset manager, according to reports. Last week, Standard Life Aberdeen shares fell 6 per cent on news Lloyds decided to end investment management arrangements with the asset manager on £109bn […]

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Aviva acquires Irish provider Friends First

Aviva has acquired Irish pensions, life and investment provider Friends First Life Assurance Company for £116m. Friends First is currently owned by Dutch insurer Achmea Holding and has a 6 per cent market share. The deal makes Aviva one of the biggest composite insurers in Ireland. The amount Aviva has agreed to pay for the […]

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Martin Lewis wins claim against PPI chaser that used his image

Consumer champion Martin Lewis has won a battle against a payment protection insurance claims firm that used his image to promote their services. Lewis and Moneysavingexpert.com, the website he founded, challenged two advertisements from Civil Claim Services. One was a Facebook post that included text stating that “the BBC, Martin Lewis and national press have […]

Aviva to sell Friends Provident International for £340m

Aviva is to sell its offshore Friends Provident International business in Asia and the Middle East for £340m following a strategic review. It has agreed to sell the offshore arm to International Financial Group, formerly known as RL360. The deal is subject to regulatory approval, and will see Friends Provident International’s £7.6bn funds under management […]

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Aviva’s Briggs to head up insurance business as part of restructure

Aviva will bring all of its UK insurance businesses – life, general and health insurance – together under one roof as part of a number of structural changes at the provider. Andy Briggs, formerly Aviva UK life chief executive, has been named UK insurance chief executive with responsibility for all of Aviva’s insurance businesses in […]

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Tenet to offer lower risk firms cheaper PI deals

Tenet is to offer directly authorised clients a new professional indemnity scheme with cheaper premiums available to those that purchase more compliance services from the network. Policies will be individually underwritten on a case-by-case basis and Tenet hopes the scheme will offer more realistic excess levels and more affordable premiums to lower risk firms. Group regulatory […]