UK Insurance News

RBS has extended the deadline for the first round of bidding in its auction of the companies insurance business. The extension was called after several bidders allegedly aborted their interest, while others need more time to consider their bids.
Italian insurance giant Generali, thought at one time to be a forerunner in the auction were the [...]

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LV= have launched a new policy that offers cover against accident, sickness and unemployment. The policy will offer level mortgage cover with a choice of index linked or level living expenses.
Aimed at employed and self employed alike, the policy offers guaranteed premiums for the life of the plan.
Cover for a 30 year old male, with [...]

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Scottish Widows are likely to face a compensation claim of up to £1bn, over advice it gave to 100 company pension schemes.
A dossier prepared by the independent consultant Actuarial Review Company (ARC) for the FSA, claims that negligent advice cost the schemes £300million.
The report claims that Scottish Widows advised clients to move from guaranteed annuity [...]

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The Royal Bank Of Scotland is expecting to raise £6bn through the auction of its insurance businesses, which include household names Churchill and Direct Line.
The banks advisers  Goldman Sachs and Merrill Lynch, have excluded private equity firms from the sale that is reported to have attracted seven bidders so far, with a deadline tomorrow for [...]

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Legal & General are warning anyone who cares to listen that the UK is heading for recession.
The insurance company says that its ‘recession predictor’ is showing a 95% chance of economic slowdown, resulting in a six month long slump.
Truth is a lot of us are also 95% confident that a recession is likely, and without having to create [...]

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