Druid2
- 15 Oct 2004 13:00
- 8 of 13
acw - AV has dropped a bit. Perhaps more to go when more details are released.
UK blue chip insurers fell in early trade, knocked by news that New York Attorney General Eliot Spitzer has launched a probe of the US's largest insurance broker, dealers said. The lawsuit against Marsh & McLennan attacked a common payments system known as "contingent commissions", where insurance companies reward brokers for sending business their way. A further four insurance companies are said to be under investigation and two executives from American International Group have apparently pleaded guilty to charges related to the payments. Dealers expect this investigation to eventually take in most European names with US non-life exposure, with Royal & Sun Alliance Insurance Group one of the UK names thought to be most at risk. Dealers also claimed Barclays has large holdings in Marsh and AIG, and the drop in the share prices of the US groups saw the value of Barclays' holdings drop by US$929m. Barclays shares are down 1.44% at 549p, while Prudential shares are down 1.43% at 464p and Aviva shares are down 1.35% at 548p. The S222 SG Barclays 500 01/06/2005 put warrants are up 9.5% at 2.76p.
brockman
- 15 Oct 2004 21:41
- 11 of 13
Little Woman,
The Financial Times on the 11th said that Supporter had made two acquisitions that will double its revenues, with 3.35 million pounds being invested in domiciliary care provider Quality Care QCM and the purchase of back office service provider Parys Snowdon for an initial 1.55 million pounds. The deals paid for by a mixture of cash and shares. Supporta also announced an overhaul of its board, with Bob Holt being replaced as chairman by John Jasper, a former chief executive of outsourcing firm HBS. Did you miss this?
RogerD
- 17 Oct 2004 17:12
- 13 of 13
Littl woman,
Notice that there was gigantic volume on 14th. over 2m