Industry News

Land of Leather fined over payment protection sales - ShareCast - Mon 12 May, 01:39 PM
Sofa retailer Land of Leather has been fined £210,000 by the Financial Services Authority for improperly selling payment protection insurance (PPI). The firms's chief executive Paul Briant was also personally fined £14,000 for failing to properly oversee the sale of PPI by the firm.

Hiscox says quarter in line with expectations - Reuters - Mon 12 May, 09:07 AM
London-listed insurer Hiscox <HSX.L> said on Monday that sales fell in line with expectations in the first quarter, as increasing competition in big-ticket insurance and reinsurance risks began to bite.

ILFC considering split-up from insurer AIG - Reuters - Mon 12 May, 07:30 AM
International Lease Finance, a unit of American International Group <AIG.N>, is worried by the insurer's financial troubles and mulling a split from it, the Wall Street Journal said on Monday, citing people familiar with the matter.

Tornadoes kill 22 and injure hundreds in U.S. - Reuters - Sun 11 May, 08:39 PM
Tornadoes killed at least 22 people and injured hundreds as they ripped through communities in the central and southeastern United States over the weekend.

At least 19 dead in U.S. tornadoes - Reuters - Sun 11 May, 05:24 PM
At least 19 people were killed in Missouri and Oklahoma when tornadoes and violent storms ripped through the central and southeastern United States, devastating neighbourhoods and injuring hundreds, officials said on Sunday.

At least 18 reported dead in U.S. tornadoes - Reuters - Sun 11 May, 06:42 AM
At least 18 people were killed on Saturday in Missouri and Oklahoma after tornadoes swept through the area, authorities in the two states said.

At least 16 reported dead in U.S. tornadoes - Reuters - Sun 11 May, 05:17 AM
At least 16 people were killed on Saturday in Missouri and Oklahoma after tornadoes swept through the area, authorities in the two states said.

Swiss Life mulls bid for Friends Prov unit - Reuters - Fri 09 May, 06:11 PM
Insurer Swiss Life <SLHN.VX> is considering a bid for Lombard, the high-end insurance unit of Friends Provident <FP.L>, and is already conducting due diligence, sources familiar with the matter said on Friday.

Banks and miners drag FTSE down 05:19 PM [ Reuters]
US open: Slide continues 04:14 PM [ ShareCast]
It's A Good Time To Buy Insurance 04:11 PM [ Fool.co.uk]
Glum financials pull FTSE down 1.4 percent 04:00 PM [ Reuters]
US pre-open: Stocks seen lower 01:22 PM [ ShareCast]

40,000 finance jobs face chop 12:22 PM [ ShareCast]
London midday: Financials reeling after AIG losses 12:22 PM [ ShareCast]
Would you tell whoppers to your car insurer? 07:34 PM [ Reuters]
US new jobless claims fall 04:16 PM [ ShareCast]
European insurers flag tough market in 2008 04:06 PM [ Reuters]

European insurers flag tough market 01:39 PM [ Reuters]
Military evacuated as Chile volcano eruption flares 08:02 AM [ Reuters]
Old Mutual sales up 2 percent 07:19 AM [ Reuters]
Pension buyouts could hit 10 billion 12:54 AM [ Reuters]
Erupting Chilean volcano could spew ash for months 07:15 PM [ Reuters]

Kroll write-downs send Marsh McLennan into red 06:16 PM [ ShareCast]
China's SVA Group to withdraw from joint venture with Nippon Life: report 05:22 AM [ AFP ]
Emergency evacuation as Chile volcano spits lava 11:26 PM [ Reuters]
Brazil rescuers find wreck of plane carrying Britons 05:37 PM [ Reuters]
Amlin launches insurance risk venture 03:56 PM [ ShareCast]

Emergency evacuation as Chile volcano spews lava 02:47 PM [ Reuters]
Reinsurance group Swiss Re's first quarter profit falls 02:17 PM [ AFP ]

Buffett's Berkshire to look at RBS insurance unit 03:03 AM [ Reuters]
One dead as Chilean volcano spews ash for third day 09:33 PM [ Reuters]
Bankinter seeks to buy RBS out of Spanish JV 02:20 PM [ Reuters]
Thousands evacuated as Chile volcano spews ash 02:17 AM [ Reuters]
Buffett says bought $4 bln of auction-rate debt 06:52 PM [ Reuters]