Around 1990 I was appointed to a subsidiary board of the Norwich Union Group (now Aviva) and was one of the first women to become a director there. That much was obvious because, in the hallowed Marble Hall that provided the board room and senior executive offices, there were no facilities for women. And, at […]
Just chief exec Rodney Cook handed £2.6m pay package after Partnership merger
Just chief executive Rodney Cook was given a pay package worth £2.6 million in the 18 month period ending 31 December 2016. Cook was chief executive of Just Retirement when it merged with fellow specialist annuity provider Partnership. The new company recently changed its name from JRP Group to Just. Just’s annual report for the year […]
FCA urges financial firms to plan for UK’s EU exit in its annual list of priorities, and says it will focus on protecting vulnerable customers
The City regulator has pledged to ensure that financial firms remain strong in the face of Brexit in its annual list of priorities, which also includes protecting vulnerable customers from overly expensive loans. Andrew Bailey, chief executive of the Financial Conduct Authority, said the regulator’s lawyers were scrutinising EU financial sector rules as part of […]
Insurance Chiefs: 85% surveyed plan to significantly increase AI investment over next 3yrs – does this mean customers need to get used to talking to machines
Frustrated with automated answering machines before you finally get to speak with a customer service representative? When it comes to insurance, you’ll just as likely end up dealing with a robot as a human within three years, according to a survey by Accenture Plc. About two-thirds of insurers already use artificial intelligence-based “virtual assistants,” the consulting […]
City firms have started hiring again after the Brexit vote
Recruitment in the Square Mile surged in the first three months of 2017 as City firms rebooted hiring initiatives after digesting the country’s decision to leave the EU. One of the UK’s largest headhunters, Robert Walters, today revealed UK fee income had leapt by 27 per cent over the last quarter, saying there had been […]
City of London ramps up plans to create a new finch hub in the Square Mile
The City is ramping up its efforts to attract innovative technology firms to the Square Mile with plans to set up a new fintech hub. Innovate Finance, the fintech industry body backed by the City of London Corporation, will move from Canary Wharf to a new space in the Square Mile that is also set […]
Is Standard Life about to shed it’s insurance business?
Standard Life could end up selling off its insurance arm, according to analysts RBC, which has suggested a number of ways investors will seek to reduce insurance exposure as the business merges with Aberdeen Asset Management. A note from RBC seen by New Model Adviser® says as the merger between Standard Life and Aberdeen Asset Management nears completion, the […]
Old Mutual plans Chinese insurance exit: Firm to say farewell to 13-year joint venture
Old Mutual is looking to ditch its interest in the Chinese insurance sector after putting its interest in a joint venture in the country up for sale, according to reports. The FTSE 100 firm is working with advisers to sell its 50 per cent stake in Old Mutual-Guodian Life Insurance. It is understood one or […]
L&G sells last EU insurance business outside UK after completing sale of Dutch arm
Legal & General has sold its last EU insurance business outside of the UK after completing the sale of its Dutch arm to life firm Chesnara. The deal was first announced on 24 November and today the firms said all conditions precedent were met. A total consideration of €161.2m (£137.8m) was paid by Chesnara. Although […]
Chancellor calls new Lloyd’s of London Indian branch opening “perfect example” of how the UK leads the world’s financial services sector
Lloyd’s of London today officially opened its Indian branch, with chancellor Philip Hammond calling it a “perfect example” of how the UK leads the world’s financial services sector. Hammond, on the final day of his trade delegation to India, witnessed the signing of a ceremonial Lloyd’s India policy together with Lloyd’s chairman John Nelson. Underwriter […]