Lloyds Banking Group
Insurance jobs go at Lloyds Banking Group amid 550 redundancies
Lloyds Banking Group is cutting 550 jobs from its risk, insurance, commercial banking, retail and wealth, asset finance and international divisions.
PPI mis-selling creates ‘thousands’ of new jobs
At least 20 000 jobs have been created to deal with processing mis-sold payment protection insurance, according to research by employment group Manpower.
Analysts cast doubt on Co-op’s ability to sell off general insurance business
The Co-operative Bank may struggle to offload its general insurance business as part of a bid to make up a capital shortfall that is expected to result from a market-wide investigation of banks by the Financial Services Authority.
Ombudsman: PPI claims reach 2000 a day
Payment protection insurance claims multiplied almost two and a half times in the second half of 2012 according to figures from the Financial Ombudsman Service.
Lloyds Banking Group fined £4.3m for delayed PPI payments
The Financial Services Authority has fined three Lloyds Banking Group firms £4 315 000 after failings in their systems delayed the payment of mis-sold payment protection insurance to up to 140 000 customers.
Broking Focus: Cashflow Problem
Macquarie’s withdrawal from cashflow lending last year caught many brokers by surprise, but what has the impact been– and where do brokers look now for finance?
Post magazine - 15 November 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Interview: Bill Cooper - Banking bites back
The head of global insurance at Lloyds Banking Group believes that insurance M&As are not dead and that institutions are willing and able to provide finance.
Lloyds to set aside additional £1bn for PPI compensation
Lloyds Banking Group has earmarked a further £1bn to pay customers who were mis-sold payment protection insurance.
FSA to investigate Lloyds Bank over PPI mis-selling
The Financial Services Authority has launched an investigation into the Lloyds Banking Group over payment protection mis-selling.
LAS signs storm claims deal with Lloyds Bank
LAS Claims Management's specialist surveying division, Waylett & Co, has secured a deal validating storm-related roof claims for Lloyds Banking Group customers.
Lloyds GI profits fall 30% owing to PPI, pet and weather claims
Lloyds Bank's underlying general insurance profit decreased by 30 per cent to £158m (H1 2011: £226m) in the first half of 2012.
Lloyds Bank makes further PPI payments of £375m
Lloyds Bank has announced that its payment protection insurance misselling has cost it a further £375m.
North of the Border: A change in equity law for Scotland?
The Lloyds TSB Foundation for Scotland is an independent charitable organisation, and one of four that distributes 1% of pre-tax profits for the bank to various charities.
FSA looks into mis-sold pet insurance complaints
The Financial Services Authority is to review the potential mis-selling of pet insurance following complaints from pet owners about Direct Line Group's insurer NIG, Lloyds and Halifax.
Affinity: Managing relationships is vital
Affinity business is a growing area for insurers, but how can the industry avoid its pitfalls while making partnerships work?
Direct Line tops complaints league table
Direct Line Group's UK Insurance had the most general insurance complaints to the Financial Ombudsman Service, according to figures out today.
Lloyds bank puts £3.2bn price tag on PPI
Lloyds Banking Group has reported insurance premium income of £8170m (2010: £8148m) with claims of £6041m (2010: £19 088m) but said payment protection insurance provision had cost it £3.2bn.
Former Aspen CFO to replace Culmer as RSA group finance boss
RSA has appointed Richard Houghton as its group chief financial officer.
Lloyds bank reclaims bonuses over PPI
Lloyds Banking Group is to become the first bank to strip directors of their bonuses because of the payment protection insurance mis-selling scandal, according to The Telegraph.
Penny Black’s insurance week
This week wasn’t the happiest in the Black household.
Rival insurers remain committed to in-house adjusters despite Aviva move
UK insurers have affirmed their commitment to in-house loss adjusters, following the news that Aviva has transferred 80 of its claims staff to a G4S subsidiary.
Capital adequacy: Alternative finance
With Solvency II just 12 months away, and 2011 an unprecedented catastrophe year, how difficult will it be for insurers to attract equity or secure alternative funding?
News analysis: Ombudsman moves to end ‘one size fits all’ fees for mass complaints
FOS consultation proposes supplementary fees to tackle record PPI complaints workload.