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Premium income down 18% in UK insurance market

Tom Johansmeyer — Tue, 15 Dec 2009 15:00:00 EST

Filed under: Recession, Financial Crisis

UK insurance companies saw worldwide premium income plunge 18% in 2008 to GBP215.3 billion, according to International Financial Services London, an independent research organization. Its Insurance 2009 report says that 2009 will be a fairly tough year, as well, with premium bouncing back in 2010. Long-term premiums were the challenge last year, as they account for 80% of UK insurance business. The financial crisis and an increase for long-term protection converged on insurance rates, pushing prices lower. Premium income in this corner of the market fell almost 25% to GBP168.1 billion in 2008.

The expectation, last year, that damage to insurers' balance sheets and an increase in claims -- particularly for financial services liability coverage -- didn't materialize, as carriers had enough capital on hand to absorb the losses sustained on both sides of the balance sheet. As a result, insurance pricing has been kept under control.

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Premium income down 18% in UK insurance market originally appeared on BloggingStocks on Tue, 15 Dec 2009 15:00:00 EST. Please see our terms for use of feeds.

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In an car accident? There's an app for that

Tom Johansmeyer — Wed, 02 Dec 2009 14:20:00 EST

Filed under: Apple Inc (AAPL), iPhone, Technology

Leave it to the lawyers to build a better mousetrap with an iPhone. In the United Kingdom, solicitors Bott & Co found a new question to which the answer is: "There's an app for that." The Car Accident Assistant is the firm's latest contribution to humanity and is available for download from Apple's (AAPL) iTunes environment. If you're in a car accident, you can use the application to connect to the law firm's 24-hour accident help system.

As the ol' infomercial guys love to say, "But, wait! There's more!"

The Car Accident Assistant can be used to help the afflicted collect information about the accident, including vehicles and location. And, you can even take pictures of the accident and gather info from witnesses. It's like having a lawyer in your phone!

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In an car accident? There's an app for that originally appeared on BloggingStocks on Wed, 02 Dec 2009 14:20:00 EST. Please see our terms for use of feeds.

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Social media at work: not just a yes/no question any more

Tom Johansmeyer — Wed, 04 Nov 2009 16:15:00 EST

Filed under: Internet, Starbucks (SBUX), Best Buy (BBY), Media World, Technology

Company attitudes toward social media sites vary. Some swing the doors wide open, allowing employees to tend to their Facebook farms and update Twitter statuses throughout the day. Others lock 'em down, keeping non-business site access to a minimum.

A recent study found that, in the United States, 77% of employees with Facebook accounts check in with the community from the office. And, the amount of time they're spending in this part of the online world is growing. In the United Kingdom, another study found that 57% log in regularly from work, costing their employers 40 minutes a day.

Philip Wicks, a consultant at Morse PLC, a technology research firm in London, "It isn't just something you can do for half an hour during a lunch break but all through the day and because of that, it has a huge impact because people aren't necessarily concentrating on what they should be doing during the day." He estimates that this translates to lost productivity of $2.25 billion a year.

It seems like the obvious move would be to block the sites, but William Beers of Pr icewaterhouseCoopers disagrees. "Instead of trying to shut it down, I think we should try to embrace these technologies, put in a nice policy that governs it and explain to users the risks related to it, provide some training and then see what business benefits we can have from it," he said.

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Social media at work: not just a yes/no question any more originally appeared on BloggingStocks on Wed, 04 Nov 2009 16:15:00 EST. Please see our terms for use of feeds.

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M&S celebrates not-so-bad result

Tom Johansmeyer — Wed, 01 Jul 2009 12:40:00 EST

Filed under: International Markets, Industry

Recession or not, people can't walk around naked ... especially not in the United Kingdom. (Iceland in summer? Fair game.) Marks & Spencer Group Plc (London: MKS:UK), the largest clothing retailer in the country, just sustained its smallest drop in sales in nearly two years thanks to some savvy deals (offered to consumers) and warm weather. After making their ~~dollars~~ pounds stretch for so long, shoppers were finally ready for a bit of style.

Revenue declined a modest 1.4% for the year so far, much better than the 2.5% average estimate offered by 16 analysts. This was good enough to push M&S shares up 4%. If all goes well, same store sales may start to increase soon, which means that a full recovery will be right around the corner. Same store sales have fallen for the past seven quarters, and company cut its dividend for the first time in almost a decade.

The discounts that helped lead to the recent M&S sales performance are responsible for 18% of the company's food sales (which are down 0.5% on for same store) - much better than the 2.4% estimate. General merchandise fell only 2.4%, beating the 3.5% projection handily.

M&S celebrates not-so-bad result originally appeared on BloggingStocks on Wed, 01 Jul 2009 12:40:00 EST. Please see our terms for use of feeds.

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Jim Rogers calls the United Kingdom 'finished'

Zac Bissonnette — Tue, 20 Jan 2009 14:30:00 EST

Filed under: Economic Data, Financial Crisis

Macroeconomic guru Jim Rogers has a message for investors: The United Kingdom is finished.

Bloomberg quotes the bow tie-clad forecaster as saying that he "would urge you to sell any sterling you might have. It's finished. I hate to say it, but I would not put any money in the U.K."

But England isn't the only country Rogers is trashing. Reuters reports that Rogers is accusing the United States of a systematic effort to devalue the dollar by "turning on the printing presses." It's hard to argue with that and he went on to say that "The idea that you can fix a period of excess borrowing and excess consumption by more borrowing and more consumption to me is just ludicrous."

He reiterated his bullishness on China's long-term future even though that market has been hammered of late.

Regardless of whether you buy into his investment theses, it's hard to argue with his logic that borrowing and consumption will not lead out of a nightmare created by borrowing and consumption.

Jim Rogers calls the United Kingdom 'finished' originally appeared on BloggingStocks on Tue, 20 Jan 2009 14:30:00 EST. Please see our terms for use of feeds.

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Global Digest: ETFs that help you go global

Guest blogger — Wed, 06 Aug 2008 17:20:00 EST

Filed under: China, Columns

Carlton Delfeld reveals his latest global ETF picks and warns of leveraged funds.

Q. Carlton, in your last newsletter, you commented on the low valuations of several global markets, including Ireland, Singapore, UK, and Sweden, among others. Have you since added any ETFs from these regions to your portfolios?

A. Yes, I have added iShares MSCI South Africa Index (NYSEArca: EZA), iShares MSCI Singapore Index (NYSEArca: EWS), and the iShares MSCI United Kingdom (NYSEArca: EWU). South Africa is in part a currency and commodity play. The United Kingdom is very much predicated on global financial recovery, and Singapore will likely be a core holding.

Q. Each of these regions seems to have its own stress points right now. Do you think that South Africa is particularly vulnerable to a global slowdown? Hasn't Singapore been hit hard by the bear market in China? And isn't the UK just moving into a housing decline that may rival that of the US?

A. South Africa, China and the UK are all trading at attractive valuations. They all have challenges. The South Africa Rand has been a strong currency and will come back with higher gold prices, the UK is already moving through the housing issue and its financial-oriented market has already been hammered. Lastly, Singapore is a very high-quality China play.

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Global Digest: ETFs that help you go global originally appeared on BloggingStocks on Wed, 06 Aug 2008 17:20:00 EST. Please see our terms for use of feeds.

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JPMorgan Chase taps Tony Blair for advice

Beth Gaston Moon — Thu, 10 Jan 2008 17:48:00 EST

Filed under: Deals, Management, JPMorgan Chase (JPM), Politics

Cheerio! What to do if you're a 54-year-old former world leader, in good health, with Western sympathies? Days of leading a major country are behind you, but you're not ready to pack it in anytime soon. Link up with a major American corporation, of course! Tony Blair, who served as Great Britain's prime minister from 1997 through June of last year, has agreed to join with JPMorgan Chase (NYSE: JPM) in the role of part-time adviser.

The financial terms of the arrangement weren't disclosed, but one Manhattan recruitment consultant estimated in The Financial Times that Blair's fee would likely be more than $1 million a year (though that sum doesn't go quite as far in pounds these days).

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JPMorgan Chase taps Tony Blair for advice originally appeared on BloggingStocks on Thu, 10 Jan 2008 17:48:00 EST. Please see our terms for use of feeds.

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ECB keeps rates the same, surprising some economists

Joseph Lazzaro — Thu, 06 Dec 2007 12:33:00 EST

Filed under: International Markets, Other Issues, Housing, Federal Reserve

In a surprise decision, the European Central Bank Thursday left its key interest rate unchanged, keeping its refinance rate a 4% due to inflation risks.

Confounds chatter

The ECB's decision went against growing chatter in Wall Street circles Wednesday that the ECB, the Bank of England and the U.S. Federal Reserve would all cut short-term interest rates, as well as implement other coordinated measures, to counteract the contraction effects of subprime mortgage and related asset defaults on the world's largest industrialized economies, the European Union and the United States.

"The decision to stay flat was a bit of a surprise, but that doesn't mean there won't be a future cut," Andrew Resnick, independent currency trader, told BloggingStocks Thursday. "I think we'll still see coordinated action by the ECB and the Federal Reserve to maintain liquidity and keep overnight rates at typical levels. Also keep in mind that the Bank of England cut its rate, so maybe they're doing it sequentially to prepare the market for the new monetary policy."

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ECB keeps rates the same, surprising some economists originally appeared on BloggingStocks on Thu, 06 Dec 2007 12:33:00 EST. Please see our terms for use of feeds.

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Time for a British win over Germany?

Michael Panzner — Mon, 04 Jun 2007 18:40:00 EST

Filed under: International Markets, Indices, Market Matters, Money and Finance Today, Technical Analysis

Recent reports highlight U.S. investors' strong and continuing interest in foreign markets. In many cases, cash is being invested indirectly, often through exchange-traded funds (ETFs) that mirror the currency-adjusted performance of publicly-traded shares in countries around the world.

While there are any number of fundamental reasons for choosing one nation's equity market over another, sometimes interesting opportunities crop up that seem, at first glance anyway, mainly technical in nature.

A comparison of the relative performance of the country funds for the United Kingdom and Germany, both based in Europe and subject to a number of the same macroeconomic influences, would seem to suggest such an opportunity.

Continue reading Time for a British win over Germany?

Time for a British win over Germany? originally appeared on BloggingStocks on Mon, 04 Jun 2007 18:40:00 EST. Please see our terms for use of feeds.

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