A mutual pay-out
Article Abstract:
Scottish Amicable is to recommend a bid by Prudential which will be able to achieve cost savings over the longer term. Prudential has pledged that no jobs will be shed for three years at the headquarters of Scottish Amicable. The shareholders of Prudential will receive benefits from cost savings. Meanwhile, Norwich Union is carrying out a flotation in Jun 1997 since the funds raised will allow it to purchase the general insurance business from the life insurance fund. Policyholders will be given free shares if the flotation is approved.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Insurers seek safety in size
Article Abstract:
Sun Alliance and Royal Insurance plan a 6 billion pounds sterling merger to be finalised in Aug 1996. Annual cost savings of 175 million pounds sterling should result from the merger, and the new company will rank first among UK non-life insurers. Competition has increased in the UK insurance industry, and this is affecting margins. The merger will not reduce capacity, so competition will still be a problem. The share prices of both insurers rose after the announcement of the merger.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Struggle for survival heralds life shake-up
Article Abstract:
The UK life insurance industry is likely to undergo restructuring because of increasingly difficult conditions. The industry has been affected by a scandal relating to mis-selling of pensions, and by increased competition from companies with links to building societies and banks. Mutual insurers are restricted as to how much they can borrow to invest in new products and ways of distributing existing products. New entrants are likely to be potential buyers.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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