By Layla Glynde on 05-12-2011
Towergate’s private-equity backers watching situation closely following ‘taster’ note sent around City
Expectations are mounting that Groupama will soon give the green light for a sale of its UK assets.
JP Morgan is currently carrying out a strategic review of what Groupama can sell to strengthen its capital adequacy which has deteriorated because of sovereign debt holdings and decreased assets in equities.
Towergate’s private equity backers Advent are understood to be watching the situation closely.
Towergate founder Peter Cullum and former chief executive Andy Homer would be expected to help with the potential acquisition of Groupama’s UK assets, Insurance Times understands.
Advent would probably look more closely at the possibility of investing in one or all of the UK broking assets – Bollington, Lark and Carole Nash – rather than Groupama insurance.
There would probably be two sales, one for the insurance company and another for the broking arm, a source said.
French mutual Covea, which owns Swinton and MMA, is keen to expand in the UK and is also keeping a close eye on Groupama’s sale process.
Buyers had been alerted by a note from one of the major investment banks detailing Groupama’s assets, including the UK insurance company and its broking subsidiaries.
The note was sent out to gauge interest from potential buyers.
Full Article…
Life insurance for the elderly is almost like regular life insurance except that the death benefit is relatively smaller and the premium relatively higher. Insurance companies are business that uses their client’s money to make investments and then profits from them so the longer you let them use your money, the higher profit they get out of it. This is the reason why insurance companies have the ability to offer high amount coverage because the money you pay for the premium is being used by the company to generate more income. So the longer they get to keep your money the higher coverage they provide. Full Article…
By Katie Angela on 02-12-2011
Decisions, Decisions, Decisions. If you are starting out in business or reviewing your initial company procedures and processes you will be faced by an endless choice of decisions to make.
Whilst the potential rewards of running a successful business drive them onwards, there are many challenges faced by small business owners, especially during the initial outset of the business when methods and procedures are being put in place.
Full Article…
By Layla Glynde on 01-12-2011
You always hope that there are no injuries in the event of a car accident. In addition, there are always a lot of emotions that can exacerbate the situation. So what happens if you’re a victim in a hit-and-run car accident? It could be absolutely
You always hope that there are no injuries in the event of a car accident. In addition, there are always a lot of emotions that can exacerbate the situation. So what happens if you’re a victim in a hit-and-run car accident? It could be absolutely debilitating—physically and emotionally.
The first thing to do after any accident is to see if anyone is hurt or needs medical attention. Full Article…
By Brooke Woodger on 01-12-2011
‘Tis the season!
Ah yes, the holidays are upon us again: a time to rekindle bonds with friends and family, to count our blessings, and give thanks. It’s also the season for parking lot nightmares, long lines to the cash register and bruised bank accounts. Most of this can be avoided by shopping online, but here are some helpful tips to keep your checking account from further damage.
- Shop with reputable on-line retailers. If you have any doubts, find another retailer. Check out what others say about their on-line experience with sites like bizrate.com and epinions.com.
Full Article…
By Brooke Woodger on 25-11-2011
California drivers who think they are not breaking the state’s ban on using a hand-held cell phone while driving if their conversation is carried out at a red light may want to think again.
A state appeals court has ruled against a Northern California man who was cited for that infraction but argued that he was not technically driving at the time because his car was stopped at a traffic signal.
In a unanimous decision, the 1st District Court of Appeal in San Francisco ruled last week that Richmond resident Carl Nelson was using his cell phone “while driving” and must pay the resulting $103 in fines and other penalties.
Nelson was waiting for a light to change on the morning of Dec.
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