Optimism among chief financial officers at UK companies has reached a post-Brexit referendum high, according to a widely-regarded survey, with risk appetite rising and attitudes towards expansionary measures warming. The number of finance chiefs who are optimistic about prospects for their company has risen to 31 per cent, according to the Deloitte CFO Survey, from […]

Royal London will set up its EU base in Ireland in order to remove the uncertainty created by the UK’s triggering of Article 50. The life insurance, pensions and investment firm said today it already has an Irish subsidiary and plans to convert operations into a domiciled business. The firm said in a statement: “Royal […]

As the UK waits for Theresa May to trigger Article 50 and kick off the Brexit process, Lloyd’s of London has reportedly come to a decision on where to move its EU business. The insurance giant will locate its new EU subsidiary in Brussels, according to a report by The Insurance Insider, which revealed the […]

Aviva Plc (AV.L) is exploring a sale of its Friends Provident International unit, which offers life assurance and investment products, in a deal that could raise between $500 million (398.26 million pounds) and $700 million, a source with direct knowledge of the matter said. The British insurer has received preliminary interest from about half a […]

Lloyd’s of London is planning to confirm the details of its new EU subsidiary after a meeting next Wednesday, the same day that Theresa May is due to trigger Article 50. The Prime Minister announced this week that she will kick off the Brexit process on the 29 March, beginning two years of negotiations before the UK splits […]

The Association of British Insurers (ABI) has strengthened its commitment to diversity by partnering with LGBT Plus professional network Outstanding. The partnership will provide employees with mentoring and leadership programmes while creating new opportunities for ABI member firms as they work to build a more diverse and inclusive insurance and long-term savings industry. Yvonne Braun, director […]

Inflation has smashed through the Bank of England’s two per cent target for the first time since November 2013 as the Office for National Statistics (ONS) changes its headline inflation measure. Consumer price inflation (CPI), which has been the main measure of price rises since 2003, rose at an annual rate of 2.3 per cent […]

Phoenix Group has more than doubled its cash generation on the previous year after it bought two life businesses, and said it will continue to look for acquisition opportunities. The group reported £486m of cash generation in its 2016 full year results, more than the £225m in cash generation it reported the previous year. The […]

Dealmaking in the insurance sector will shift into top gear in 2017 as the need to set aside regulatory capital “forces companies to grow or go”, according to a report by experts. Nearly all firms (94 per cent) surveyed by accountancy firm KPMG expect to make at least one divestiture during 2017, with the lion’s […]

The merger between Standard Life and Aberdeen has raised suspicions among fund buyers and advisers that this is the next step towards Standard Life dropping its life business. Earlier this month Standard Life and Aberdeen agreed to a £11bn all-shares merger which will make the combined company the largest active manager in the UK and the second […]