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L&G shares rise on Zurich bid rumours

Shares in Legal & General have risen almost 3 per cent today to 95p after rumours that Zurich Financial may be preparing a bid for the insurer.

A report by Reuters states: “Shares in insurer Legal & General rose 3 per cent on Wednesday, hitting a near two-year high and outperforming UK peers, with traders citing market talk of bid interest from Zurich Financial.”

Aviva’s share price closed 5 per cent up at 397p yesterday after reports suggesting Axa is interested in a bid for its general insurance business. At 12.20pm today it had fallen back to 392p per share.

Aviva rejected a £5bn bid for its general insurance arm from RSA last week.

The insurer’s major shareholders are understood to be pushing it to reconsider the deal, which would give RSA an estimated 22 per cent stake of the general insurance market in the UK.

L&G, Aviva and Axa declined to comment.


Northern Rock cuts mortgage application fee by 60%

Northern Rock has slashed its mortgage application fee for borrowers looking to buy a new property by 60 per cent. The move, which will take place on August 23, will cut the application fee from £250 to £99. The lender’s purchase range includes both fixed-rate and tracker products as well as buy-to-let products. Marketing director […]

Henderson duo build up FTSE downside protection

Henderson’s multi-manager duo Mark Harris and Craig Heron have bolstered downside protection in their portfolios as they believe the FTSE 100 will fall to 4,800 in the next couple of months. Harris says there is still a lot of macro concern. The pair have boosted their downside protection after placing a put option covering 5 […]

SJP offers £1.8m payout to investors in Carron firms

St James’s Place has offered a £1.8m package of compensation to investors who lost money when former senior partner Peter Carron advised them to invest in his own businesses. It says it will cover losses where it has evidence that a client believed Carron was acting as a representative of St James’s Place when he […]

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In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


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