Carolyn's Feed
May 6, 2015

Prudential will see strong first-half earnings, outgoing CEO says

LONDON, May 6 (Reuters) – Prudential will post “very
strong” first-half earnings, outgoing chief executive Tidjane
Thiam said on Wednesday, as the insurer reported an 11 percent
decline in new business profit in the first quarter.

Thiam, who leaves at the end of the month to run Credit
Suisse, said a healthy performance in protection
insurance across the company’s Asian, U.S. and British divisions
would boost the broader earnings numbers when they are reported
in three months.

May 6, 2015

L&G says focus on infrastructure whatever election outcome

LONDON, May 6 (Reuters) – Legal & General’s will
focus on long-term investment in British infrastructure and
property regardless of the outcome from this week’s general
election, the insurer said on Wednesday as it posted record
quarterly cash generation.

Britain will vote on May 7 with the two main parties level
in most polls and neither on track to command a majority.

May 1, 2015

Business as usual seen at Prudential under new CEO Wells

LONDON, May 1 (Reuters) – Investors and analysts expect
business as usual at British insurer Prudential after it
appointed internal candidate Mike Wells, head of the company’s
U.S. arm, as successor to Tidjane Thiam.

The insurer set out targets at the end of 2013 to expand its
Asian life and investment management businesses, fuelled by
rising demand for insurance among Asia’s growing middle class.

May 1, 2015

SVG Capital survives shareholder revolt at annual meeting

LONDON, May 1 (Reuters) – British investment trust SVG
Capital survived an investor rebellion at its annual
general meeting on Friday, when nearly 40 percent of votes were
cast against its pay policy for top executives and the
re-election of its chairman.

At last year’s meeting just 5.5 percent of votes were cast
against the election of Chairman Andrew Sykes and 1 percent
against the pay policy, a SVG Capital statement showed.

Apr 30, 2015

Swiss Re weathers competition to deliver first-quarter profit rise

ZURICH/LONDON, April 30 (Reuters) – Swiss Re, the
world’s second-largest reinsurer, beat forecasts with a 17
percent rise in first-quarter net profit on Thursday, boosted by
strong investment returns, and said it was able to renew
policies at “acceptable” rates.

Swiss Re and other reinsurers help insurance companies cover
the cost of major damage claims, such as for hurricanes and
earthquakes, in exchange for part of the premiums their
insurance company clients pay.

Apr 29, 2015

Euro zone QE helps Standard Life first-quarter funds boost

LONDON (Reuters) – Money-printing in the euro zone helped drive flows into Standard Life’s funds in the first quarter as investors searched for higher-yielding assets, the British insurer and asset manager said on Wednesday.

Bonds are posting negative yields in several European countries after the European Central Bank announced a trillion euro bond-buying – or quantitative easing – programme, which kicked in last month.

Apr 29, 2015

Euro zone QE helps Standard Life Q1 funds boost

LONDON, April 29 (Reuters) – Money-printing in the euro zone
helped drive flows into Standard Life’s funds in the
first quarter as investors searched for higher-yielding assets,
the British insurer and asset manager said on Wednesday.

Bonds are posting negative yields in several European
countries after the European Central Bank announced a trillion
euro bond-buying – or quantitative easing – programme, which
kicked in last month.

Apr 27, 2015

Healthcare firm Bupa has 200-300 million pounds for acquisitions

LONDON (Reuters) – Financing constraints mean British private healthcare group Bupa [BUPAI.UL] only has around 200-300 million pounds available for acquisition in 2015, its chief executive said on Monday.

The unlisted company made profits of 638 million pounds last year and would come in at around 50-60th position in the FTSE-100 if it were a listed company, Stuart Fletcher told Reuters in an interview.

Apr 19, 2015

Lloyd’s of London targets Islamic insurance market

SYDNEY/LONDON, April 19 (Reuters) – Lloyd’s of London
has set its sights on Islamic insurance, known as
takaful, to strengthen its push into emerging markets and is in
talks with regulators to set up shop in Malaysia.

The plans are part of the venerable London insurance
market’s strategy to expand in fast-growing regions where
insurance penetration remains low.

Mar 30, 2015

Advice gap leaves ‘pension freedom’ pitfalls for UK savers

LONDON, March 30 (Reuters) – A lack of specialist advice to
all but the well-off leaves a plethora of pitfalls lying in wait
for the millions of British pensioners looking forward to their
impending freedom to choose where to invest their retirement
savings.

The British government has introduced a series of changes to
the pensions and savings industry in recent months to give
people more control over their money, including higher
thresholds for tax-free savings and the removal of the
obligation to buy an annuity at retirement to guarantee an
income for life.

    • About Carolyn

      "I have worked at Reuters for more than 20 years but I switched in Sept 2014 to a new beat - insurance and fund management. I write about things like insurance deals, fund trends, geopolitical risks insured by Lloyd's and I'm grappling with understanding company accounts. In my vanishingly small spare time, I hope to contribute more to Reuters entertainment file."
    • Follow Carolyn