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Prudential’s failed takeover bid won’t push up premiums

Friday, August 13, 2010

Prudential, the British insurance giant, has revealed the shocking cost of the company’s failed bid for the Asian branch of American organisation AIG (American International Group). Before tax, the loss to the Prudential amounts to around 377 million pounds.

In June this year, Prudential pulled out of discussions with AIA to pay $35.4 billion for the takeover. AIA had refused a lowered offer of just over $30 billion, which proved to be unacceptable. as a result of this, Prudential desis ... Read full article

Category: Life Insurance

Wise Owl stops providing Life Insurance

Thursday, August 12, 2010

The Financial Services Authority (FSA) have ordered Wise Owl Services (who also trade as Wise Owl Insurance Services and Wise Owl Mortgage Services) that they must desist from undertaking insurance and mortgage activities in the UK.

Previously, the FSA had pulled the company up on their sales practice procedures, and has now issued an outright ban on the firm preventing it from trading regulated mortgage and insurance activities. The Birmingham-based company could now find itself having ... Read full article

Category: Life Insurance
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