When it comes to getting insurance quotes free, one should try to find out the best way to obtaining them. One of the best and fastest ways to get free insurance quotes is to use the internet to shop for auto insurance and home insurance.
Doesn't it sound much easier to find one website where you can shop for auto insurance and home insurance from one single website? Or, you can contact each company individually which will take much longer. Since insurance quotes are free, it is a good idea to get as many quotes as you can in order to make sure you obtain a competitive insurance rate quote.
There are many insurance companies out there and not all of them will give you a good rate. An auto or home insurance company could be cheap for your neighbor, but not for you. Auto insurance companies look at a few factors to determine the quote amount. Each driver is unique, therefore, the best way to find cheap auto insurance is to take advantage of free insurance quotes and get as many as you wish to ensure a good low premium.
As you already know, home insurance rates are also determined from a few determining factors. The territory, or zip code of a certain home will be a very important factor when it comes to home insurance quotes. Value of the home, including factoring in the square footage is also an important factor among others. Also, some factors like the composition of the roof, and when the property was constructed will determine the insurance premium along with loss history.
Free insurance quotes is also a great tool to find your insurance company of choice when it comes to home insurance in order to secure a great price for your homeowners insurance. Many consumers will buy a package policy which will include buying auto insurance and home insurance from the same company in order to obtain additional discounts.
Shopping for home insurance and auto insurance quotes online will be your best bet, especially if you find a website that will provide free insurance quotes for your auto and home insurance from the same website. We all want the same thing which is finding cheap auto and home insurance which will also have quality.
Buying auto insurance and home insurance is even possible through a few sites out there. Keep in mind that when you buy insurance online, you can also inquire on your policy online which is a great advantage. Thanks to the internetArticle Search, shopping for auto insurance or home insurance is much easier these days.
Dec 11, 2015
Features Of Cheapest Car Insurance Without Deposit
If you are willing to purchase a car insurance cover then you should be aware of the factors which affect the cost of the car insurance policy. Depending on your needs you can avail different schemes. What are these schemes? Read on to find out.
If you do not have the required amount to submit as a deposit then you can jolly well look for carriers offering the cheapest car insurance without deposit as well! However, in order to find out who offers the cheapest of the insurance cover, you have to ensure that you are conducting a thorough comparison among the rates offered by multiple companies providing car insurance companies Arizona with no deposit. In this manner you would be able to determine who is offering the perfect combination of prices and service.
There are many car owners who are not required to use their car on a regular basis. They might be using it only for the time when their children have come from their holidays or for that matter when they are taking it out on a short trip etc. you might also require to insure a car which you have borrowed from your friend when your own car has gone for repairs. Depending on your needs you can avail long term and short term car insurance covers ranging from 6 month and 2 month car insurance policies to one month and one day car insurance covers as well!
You cannot choose an affordable no deposit car insurance policy randomly. This means that the cost of the policy should not really be the “only” factor determining your choice. You should also find out whether at all the policy in question meets your needs or not. It would not be that challenging to find out auto insurance companies with no deposit if you are ready to conduct proper research. Check out the websites of the carriers providing auto insurance no deposit thoroughly. See if their terms and conditions and rates suit your needs or not and then reach a decision.
Please visit the website the www.NoDepositCarInsuranceQuote.com without delay in order to find out more about the car insurance quotes.
If you do not have the required amount to submit as a deposit then you can jolly well look for carriers offering the cheapest car insurance without deposit as well! However, in order to find out who offers the cheapest of the insurance cover, you have to ensure that you are conducting a thorough comparison among the rates offered by multiple companies providing car insurance companies Arizona with no deposit. In this manner you would be able to determine who is offering the perfect combination of prices and service.
There are many car owners who are not required to use their car on a regular basis. They might be using it only for the time when their children have come from their holidays or for that matter when they are taking it out on a short trip etc. you might also require to insure a car which you have borrowed from your friend when your own car has gone for repairs. Depending on your needs you can avail long term and short term car insurance covers ranging from 6 month and 2 month car insurance policies to one month and one day car insurance covers as well!
Please visit the website the www.NoDepositCarInsuranceQuote.com without delay in order to find out more about the car insurance quotes.
Dec 4, 2015
Hiscox issues burst pipe advice
December 3, 2010
by Richard Kilner
Story link: Hiscox issues burst pipe advice
Home and contents insurer Hiscox is advising home owners to be on the look out for burst pipes.
When the snow and ice begin to thaw leaks caused by burst pipes may become more noticeable, as water leaks into the property.
Hiscox home insurance expert Austyn Tusler explained that the unusually early onset of freezing conditions may have caught homeowners off-guard, and warned that there was still a long winter ahead of the UK.
If left, a leak can cause damage to a home’s structure, electrical wiring and belongings and catching them early saves not just money but also reduces the damage incurred.
Leaks can be identified by damp spots on ceilings and walls and if a tap is turned on and no water comes out (in which case the water supply should be turned off and a plumber called immediately).
Homeowners should also check exposed pipes and isolated areas such as lofts.
Earlier this week the Association of British Insurers (ABI) warned that frozen and burst pipes could cost as much as £650m, and urged homeowners to either keep their heating on or (if they are away for a porlonged period) draining the cold water system.
AXA: Flood risk home insurance subsidised by £511 a year
December 2, 2010 
by Brian Turner
Story link: AXA: Flood risk home insurance subsidised by £511 a year
According to latest data published by AXA, household insurance for homes in high flood risk regions is being subsidised by £511 each year.
This means that homeowners in affected regions are only paying 42% of the true cost of insurance to protect their homes against flooding.
The latest data was published as part of an AXA Parliamentary Flooding event in Westminster on 30th November focusing on the UK’s flood defence strategy and funding debate.
The insurance subsidy issue arises through the operation of ‘The Statement of Principles’ – an agreement which obliges existing insurers to provide cover as long as the government continues to invest in an adequate flood defence programme, leaving new insurers to come into the market and cherry-pick lower risk customers.
David Williams, managing director, claims, AXA Insurance, said: “Many householders do not realise that flood insurance is heavily subsidised and discounted due to distortion in the insurance market brought about by the Statement of Principles.
“The real concern for home owners is that the Statement of Principles will not be renewed when it expires in 2013 which could impact on the availability and affordability of insurance in high flood risk regions.
“It is incumbent on government, the insurance industry and other key stakeholders to find a new way forward to share risk, recognising that flooding is likely to increase in the UK as weather patterns become more unpredictable and extreme.”
Government strategy and spend on flood protection focuses primarily on coastal and river flooding and does not adequately reflect the impact of surface water flooding which is responsible for significant flood damage and disruption to homes and businesses.
Latest statistics from the recent Cornwall floods back up AXA’s earlier findings in that around two-thirds of flood claims were caused by issues associated with surface water.
AXA maintains that surface water risk must be recognised as part of a comprehensive approach to flood protection.
With ABI figures indicating that 5.2 million homes in England are at risk of flooding, AXA is calling for a tightening of the existing legislation including a legally binding target for reducing the numbers at risk of flood.
David Williams added: “We believe there needs to be better coordination between organisations that have a critical role to play in flood risk mitigation and protection; the Flood and Water Management Act of 2010 is a good start but we feel it could be strengthened in certain areas – like giving an independent body (most likely the Environment Agency) the responsibility for auditing local authority performance against flood risk management plans.
“The need for certainty from government can only become more urgent as many areas of the UK face imminent flood risk with the UK in the grip of an early harsh winter.”
Guy Carpenter examines nat cat scenarios alongside Solvency II
December 2, 2010
by Gill Montia
Story link: Guy Carpenter examines nat cat scenarios alongside Solvency II
As part of its latest Solvency II update, Guy Carpenter has analysed the industry-wide impact of the natural catastrophe scenarios provided in QIS5, the European Commission’s fifth and most recent Quantitative Impact Study.
The reinsurance intermediary has also conducted its own analysis to measure the industry-wide impact of these scenarios and determine whether they are in line with current industry assumptions.
The scenarios include windstorm, flood, earthquake, hail and subsidence, and Guy Carpenter has proposed parameters seeking to define each at a level corresponding to a one-in-200 year loss.
Key findings are as follows:
On an aggregate level, the QIS5 scenarios were found to be roughly within the range of current industry models.
Most insurers will likely need to make adjustments to optimise their positioning and operations under the Solvency II regime.
In many European countries, the current market reinsurance limit, including catastrophe bonds and comparable structures, is below the amounts suggested by the QIS5 scenarios.
On average, companies buy reinsurance below the recommended one-in-200 return period in most countries.
The firm’s head of analytics EMEA Region, Claude Lefebvre, comments: “While our analysis provides useful QIS5-scenario loss metrics at the aggregate level, it is not enough to successfully position a company for the new Solvency II regulatory requirements.”
He adds: “This must be done on an individual basis, taking into account each company’s unique attributes, situation and strategy.”
Sun Life of Canada closes to new UK business
December 2, 2010
by Gill Montia
Story link: Sun Life of Canada closes to new UK business
Sun Life Financial of Canada, UK is closing to new business.
The life and pensions provider says it has “refocused its approach” and from 3rd December 2010, will solely offer products and services to its existing customers.
Put another way, although the company will continue to offer additional business to existing customers, it will no longer offer products to new customers.
Chief executive officer, Janet Fuller, explains: “As a consequence of volatility in the economic landscape and the continuing high degree of uncertainty in the world about capital and other business requirements, we have decided to focus our resources on our existing customers in the UK.”
She adds: “IFAs also play a valuable role in servicing our customers, and we will maintain our important relationships with them.”
Approximately 100 jobs are likely to be affected by the change.
Bluefin expands in Cumbria
December 2, 2010
by Gill Montia
Story link: Bluefin expands in Cumbria
Bluefin has acquired Carlisle-based broker, Ross Lloyd.
The bulk of the firm’s £5 million premium business is commercial and the move will complement Bluefin’s existing position in Cumbria and the Lake District.
AXA-backed Bluefin has also been urging businesses that traditionally close down over the Christmas and New Year period to ensure that premises, equipment and stock are properly protected.
While latest figures from the British Crime Survey show an overall drop in crime rates generally, there are other risks, such as fire, electrical faults and burst pipes, which businesses need to be vigilant about.
According to the firm’s spokesman, Peter Castle: “Some basic actions can save disruption and damage when you return back to work.”
Miller named Company of the Year
December 3, 2010
by Richard Kilner
Story link: Miller named Company of the Year
Miller Insurance Services Limited enjoyed a strong performance at the Insurance Day London Market Awards, where it was named the Company of the Year in 2010.
Chief Executive Graham Clarke accepted the award on behalf of the firm during the ceremony, which took place at Grosvenor House, Park Lane, London.
Miller received the award in recognition of its successes during the past year, including bolstering its financial position and increasing its direct corporate offering.
Despite the difficult operating environment, Miller impressed the judges by hitting its ambitious targets for growth and profitability.
Clarke expressed his delight at receiving such a prestigious award and described it as a testament to the firm’s client-centred strategy.
Head of Strategic Business Applications Steve Spicer was named Industry Achiever of the Year for his endeavours promoting e-enablement and interconnectivity initiatives.
The success follows that from earlier in the year, when Miller was named the best direct and reinsurance claims broker by the 2010 Global Broker and Underwriter London Market Leaders survey.
Novae to return £32.9m to shareholders
December 3, 2010
by Gill Montia
Story link: Novae to return £32.9m to shareholders
Novae has announced that it intends to return approximately £32.9 million of capital to shareholders, equating to 45 pence per ordinary share.
Following a series of actions to improve its return on equity, the group’s FSA registered Novae Insurance Company Limited (NICL) had surplus capital of over £60 million as at 31st December 2009.
The company is therefore transferring NICL’s in-force business to its Lloyd’s business and the surplus capital held by NICL is now available for redeployment in underwriting elsewhere in Novae, or for return to shareholders.
The return of capital is being made through an issue of B shares and C shares, combined with a consolidation of existing ordinary shares.
Zurich completes Libanaise acquisition and outlines global targets
December 2, 2010 
by Gill Montia
Story link: Zurich completes Libanaise acquisition and outlines global targets
Zurich has announced that subsidiary Zurich Insurance Company Ltd has completed the acquisition of 99.99% of Compagnie Libanaise D’Assurances SAL, a privately-owned Lebanese insurer with branch operations in the United Arab Emirates, Kuwait and Oman.
The group describes the transaction as a “milestone”, allowing it to provide market-leading products to personal and commercial customers in four important markets, while at the same time complementing its existing general insurance presence in Bahrain and the Dubai International Financial Centre.
Zurich is also holding an Investors’ Day today, at which it will present various targets including its intention to become a top five European-based insurer for global life, by new business value (NBV).
The group expects to generate 30% of NBV from Asia-Pacific & Middle East and Latin America, by 2013.
ABI keen to avoid burst pipes and leaking water
December 2, 2010
by Gill Montia
Story link: ABI keen to avoid burst pipes and leaking water
With Britain in the grip of freezing temperatures and snow, the Association of British Insurers (ABI) has warned that damage caused by frozen and burst pipes and leaking water could top £650 million this winter.
The ABI is therefore advising householders to:
Ensure that loft water pipes and water tanks are insulated and know where the stopcock that turns off the incoming water supply is, and make sure that it works.
If away from the home on holiday or on a Christmas break ensure that that it is kept warm; if away for a long time it may be worth draining the cold water system.
If a pipe freezes, thaw it out using gentle heat such as towels soaked in warm water, or a hairdryer.
Remove furniture and carpet (where practical) near to the frozen pipe.
If a pipe bursts turn off the water at the stopcock and switch off the central heating to avoid further damage.
Open all taps to drain the system and contact your home insurer for advice.
Most insurers provide 24 hour emergency helplines that will arrange for repairs to be carried out as soon as possible.
The ABI’s director of general insurance and health, Nick Starling, says: “Freezing winter weather may have arrived early this year, but insurers are ready to deal with the misery and disruption it can cause.”
Last winter, which was the coldest for thirty years, insurers paid out £644 million to homeowners and firms following damage caused by escape of water.
Sun Life of Canada closes to new UK business
December 2, 2010
by Gill Montia
Story link: Sun Life of Canada closes to new UK business
Sun Life Financial of Canada, UK is closing to new business.
The life and pensions provider says it has “refocused its approach” and from 3rd December 2010, will solely offer products and services to its existing customers.
Put another way, although the company will continue to offer additional business to existing customers, it will no longer offer products to new customers.
Chief executive officer, Janet Fuller, explains: “As a consequence of volatility in the economic landscape and the continuing high degree of uncertainty in the world about capital and other business requirements, we have decided to focus our resources on our existing customers in the UK.”
She adds: “IFAs also play a valuable role in servicing our customers, and we will maintain our important relationships with them.”
Approximately 100 jobs are likely to be affected by the change.
by Gill Montia
Story link: Sun Life of Canada closes to new UK business
Sun Life Financial of Canada, UK is closing to new business.
The life and pensions provider says it has “refocused its approach” and from 3rd December 2010, will solely offer products and services to its existing customers.
Put another way, although the company will continue to offer additional business to existing customers, it will no longer offer products to new customers.
Chief executive officer, Janet Fuller, explains: “As a consequence of volatility in the economic landscape and the continuing high degree of uncertainty in the world about capital and other business requirements, we have decided to focus our resources on our existing customers in the UK.”
She adds: “IFAs also play a valuable role in servicing our customers, and we will maintain our important relationships with them.”
Approximately 100 jobs are likely to be affected by the change.
Hiscox issues burst pipe advice
December 3, 2010
by Richard Kilner
Story link: Hiscox issues burst pipe advice
Home and contents insurer Hiscox is advising home owners to be on the look out for burst pipes.
When the snow and ice begin to thaw leaks caused by burst pipes may become more noticeable, as water leaks into the property.
Hiscox home insurance expert Austyn Tusler explained that the unusually early onset of freezing conditions may have caught homeowners off-guard, and warned that there was still a long winter ahead of the UK.
If left, a leak can cause damage to a home’s structure, electrical wiring and belongings and catching them early saves not just money but also reduces the damage incurred.
Leaks can be identified by damp spots on ceilings and walls and if a tap is turned on and no water comes out (in which case the water supply should be turned off and a plumber called immediately).
Homeowners should also check exposed pipes and isolated areas such as lofts.
Earlier this week the Association of British Insurers (ABI) warned that frozen and burst pipes could cost as much as £650m, and urged homeowners to either keep their heating on or (if they are away for a porlonged period) draining the cold water system.
ABI keen to avoid burst pipes and leaking water
December 2, 2010
by Gill Montia
Story link: ABI keen to avoid burst pipes and leaking water
With Britain in the grip of freezing temperatures and snow, the Association of British Insurers (ABI) has warned that damage caused by frozen and burst pipes and leaking water could top £650 million this winter.
The ABI is therefore advising householders to:
Ensure that loft water pipes and water tanks are insulated and know where the stopcock that turns off the incoming water supply is, and make sure that it works.
If away from the home on holiday or on a Christmas break ensure that that it is kept warm; if away for a long time it may be worth draining the cold water system.
If a pipe freezes, thaw it out using gentle heat such as towels soaked in warm water, or a hairdryer.
Remove furniture and carpet (where practical) near to the frozen pipe.
If a pipe bursts turn off the water at the stopcock and switch off the central heating to avoid further damage.
Open all taps to drain the system and contact your home insurer for advice.
Most insurers provide 24 hour emergency helplines that will arrange for repairs to be carried out as soon as possible.
The ABI’s director of general insurance and health, Nick Starling, says: “Freezing winter weather may have arrived early this year, but insurers are ready to deal with the misery and disruption it can cause.”
Last winter, which was the coldest for thirty years, insurers paid out £644 million to homeowners and firms following damage caused by escape of water.
Miller named Company of the Year
December 3, 2010
by Richard Kilner
Story link: Miller named Company of the Year
Miller Insurance Services Limited enjoyed a strong performance at the Insurance Day London Market Awards, where it was named the Company of the Year in 2010.
Chief Executive Graham Clarke accepted the award on behalf of the firm during the ceremony, which took place at Grosvenor House, Park Lane, London.
Miller received the award in recognition of its successes during the past year, including bolstering its financial position and increasing its direct corporate offering.
Despite the difficult operating environment, Miller impressed the judges by hitting its ambitious targets for growth and profitability.
Clarke expressed his delight at receiving such a prestigious award and described it as a testament to the firm’s client-centred strategy.
Head of Strategic Business Applications Steve Spicer was named Industry Achiever of the Year for his endeavours promoting e-enablement and interconnectivity initiatives.
The success follows that from earlier in the year, when Miller was named the best direct and reinsurance claims broker by the 2010 Global Broker and Underwriter London Market Leaders survey.
Lloyd’s opens Toronto office and highlights the digital threat
December 2, 2010
by Gill Montia
Story link: Lloyd’s opens Toronto office and highlights the digital threat
Lloyd’s has opened a new office in Toronto, having been a leading provider of commercial insurance in the Canadian market for many years.
The expansion aims to build relationships and support Lloyd’s underwriters in Canada’s largest commercial centre.
Also this week, Lloyd’s has warned that it is important to know the enemy to understand the nature of the digital threat.
Technology and cyber liability underwriter at Ace European Group, Iain Ainslie, says: “They’re not just spotty teenagers sitting in their back bedrooms anymore … these are large-scale industries targeting companies and individuals.”
According to Mr Ainslie: “From organised criminal gangs designing malware to fraudulent employees in the midst of an organisation, the threat to digital systems and data can come from all directions.”
Lloyd’s senior IT manager, Marcus Alldrick, adds: “The big story this year was the Stuxnet computer worm, which attacked Iran’s nuclear facilities.”
Described as “one of the most refined pieces of malware ever discovered”, Mr Alldrick explains: “It was targeted at a specific control system but if you look behind it, it was very sophisticated and the analysts are now saying a lot of time, energy and money was spent designing, writing and flowing it out.”
Zurich completes Libanaise acquisition and outlines global targets
December 2, 2010
by Gill Montia
Story link: Zurich completes Libanaise acquisition and outlines global targets
Zurich has announced that subsidiary Zurich Insurance Company Ltd has completed the acquisition of 99.99% of Compagnie Libanaise D’Assurances SAL, a privately-owned Lebanese insurer with branch operations in the United Arab Emirates, Kuwait and Oman.
The group describes the transaction as a “milestone”, allowing it to provide market-leading products to personal and commercial customers in four important markets, while at the same time complementing its existing general insurance presence in Bahrain and the Dubai International Financial Centre.
Zurich is also holding an Investors’ Day today, at which it will present various targets including its intention to become a top five European-based insurer for global life, by new business value (NBV).
The group expects to generate 30% of NBV from Asia-Pacific & Middle East and Latin America, by 2013.
Guy Carpenter examines nat cat scenarios alongside Solvency II
December 2, 2010
by Gill Montia
Story link: Guy Carpenter examines nat cat scenarios alongside Solvency II
As part of its latest Solvency II update, Guy Carpenter has analysed the industry-wide impact of the natural catastrophe scenarios provided in QIS5, the European Commission’s fifth and most recent Quantitative Impact Study.
The reinsurance intermediary has also conducted its own analysis to measure the industry-wide impact of these scenarios and determine whether they are in line with current industry assumptions.
The scenarios include windstorm, flood, earthquake, hail and subsidence, and Guy Carpenter has proposed parameters seeking to define each at a level corresponding to a one-in-200 year loss.
Key findings are as follows:
On an aggregate level, the QIS5 scenarios were found to be roughly within the range of current industry models.
Most insurers will likely need to make adjustments to optimise their positioning and operations under the Solvency II regime.
In many European countries, the current market reinsurance limit, including catastrophe bonds and comparable structures, is below the amounts suggested by the QIS5 scenarios.
On average, companies buy reinsurance below the recommended one-in-200 return period in most countries.
The firm’s head of analytics EMEA Region, Claude Lefebvre, comments: “While our analysis provides useful QIS5-scenario loss metrics at the aggregate level, it is not enough to successfully position a company for the new Solvency II regulatory requirements.”
He adds: “This must be done on an individual basis, taking into account each company’s unique attributes, situation and strategy.”
AXA: Flood risk home insurance subsidised by £511 a year
December 2, 2010
by Brian Turner
Story link: AXA: Flood risk home insurance subsidised by £511 a year
According to latest data published by AXA, household insurance for homes in high flood risk regions is being subsidised by £511 each year.
This means that homeowners in affected regions are only paying 42% of the true cost of insurance to protect their homes against flooding.
The latest data was published as part of an AXA Parliamentary Flooding event in Westminster on 30th November focusing on the UK’s flood defence strategy and funding debate.
The insurance subsidy issue arises through the operation of ‘The Statement of Principles’ – an agreement which obliges existing insurers to provide cover as long as the government continues to invest in an adequate flood defence programme, leaving new insurers to come into the market and cherry-pick lower risk customers.
David Williams, managing director, claims, AXA Insurance, said: “Many householders do not realise that flood insurance is heavily subsidised and discounted due to distortion in the insurance market brought about by the Statement of Principles.
“The real concern for home owners is that the Statement of Principles will not be renewed when it expires in 2013 which could impact on the availability and affordability of insurance in high flood risk regions.
“It is incumbent on government, the insurance industry and other key stakeholders to find a new way forward to share risk, recognising that flooding is likely to increase in the UK as weather patterns become more unpredictable and extreme.”
Government strategy and spend on flood protection focuses primarily on coastal and river flooding and does not adequately reflect the impact of surface water flooding which is responsible for significant flood damage and disruption to homes and businesses.
Latest statistics from the recent Cornwall floods back up AXA’s earlier findings in that around two-thirds of flood claims were caused by issues associated with surface water.
AXA maintains that surface water risk must be recognised as part of a comprehensive approach to flood protection.
With ABI figures indicating that 5.2 million homes in England are at risk of flooding, AXA is calling for a tightening of the existing legislation including a legally binding target for reducing the numbers at risk of flood.
David Williams added: “We believe there needs to be better coordination between organisations that have a critical role to play in flood risk mitigation and protection; the Flood and Water Management Act of 2010 is a good start but we feel it could be strengthened in certain areas – like giving an independent body (most likely the Environment Agency) the responsibility for auditing local authority performance against flood risk management plans.
“The need for certainty from government can only become more urgent as many areas of the UK face imminent flood risk with the UK in the grip of an early harsh winter.”
Bluefin expands in Cumbria
December 2, 2010
by Gill Montia
Story link: Bluefin expands in Cumbria
Bluefin has acquired Carlisle-based broker, Ross Lloyd.
The bulk of the firm’s £5 million premium business is commercial and the move will complement Bluefin’s existing position in Cumbria and the Lake District.
AXA-backed Bluefin has also been urging businesses that traditionally close down over the Christmas and New Year period to ensure that premises, equipment and stock are properly protected.
While latest figures from the British Crime Survey show an overall drop in crime rates generally, there are other risks, such as fire, electrical faults and burst pipes, which businesses need to be vigilant about.
According to the firm’s spokesman, Peter Castle: “Some basic actions can save disruption and damage when you return back to work.”
Novae to return £32.9m to shareholders
December 3, 2010
by Gill Montia
Story link: Novae to return £32.9m to shareholders
Novae has announced that it intends to return approximately £32.9 million of capital to shareholders, equating to 45 pence per ordinary share.
Following a series of actions to improve its return on equity, the group’s FSA registered Novae Insurance Company Limited (NICL) had surplus capital of over £60 million as at 31st December 2009.
The company is therefore transferring NICL’s in-force business to its Lloyd’s business and the surplus capital held by NICL is now available for redeployment in underwriting elsewhere in Novae, or for return to shareholders.
The return of capital is being made through an issue of B shares and C shares, combined with a consolidation of existing ordinary shares.
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