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2010 Budget results deemed positive for the UK insurance industry

Wednesday, June 23, 2010

Initial analysis following yesterday’s emergency budget announcements suggest positive steps forward for the UK Insurance industry, Price Waterhouse Cooper have stated.

Colin Graham, an insurance tax partner at Price Waterhouse Cooper has issued an initial response to the changes in the budget following yesterday’s announcement, suggesting "Despite the widely expected rises in VAT and insurance premium tax (IPT), today’s budget has delivered a number of positive commitments for the UK i ... Read full article

Category: Life Insurance

The Axa Group in the UK changes focus from life to general insurance

Tuesday, June 22, 2010

The Axa Group has been in discussion with Clive Cowdery’s life business consolidator, Resolution, to plan for the possibility of Resolution’s purchase of annuity, group pensions businesses and protection from Axa UK. They are considering the option of purchasing Axa’s products for approximately 80 percent of their book value, which is approximately £3.5bn. This will incur costs of around £2.8bn for Resolution, the Financial Times has recently reported.

In the new arrangement, Axa will r ... Read full article

Category: Life Insurance
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