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A European Commission proposal to ban insurers from using gender to assess premiums is likely to be watered down, the Financial Times has reported.

Sex discrimination laws are to be extended to cover goods and services but insurance will be exempt.

However, the role […]

Budget airline Ryanair has been cleared of misleading travellers about the price of flying with rival Buzz, jurors at Chelmsford Crown Court have heard.

Its internet advertising claimed some Buzz flights cost more than they did, Essex trading standards said.

But a judge ruled that 10 allegations that the airline exaggerated the cost of the flights on […]

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The government has been urged to rethink its plans to protect the pensions of UK workers.

The government had proposed that an insurance scheme - funded by employers - should pay the pensions of workers when their employees go bust.

But the employers’ organisation, the CBI, argues that the […]

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Legal & General (L&G) began its battle today to overturn a 1.1m fine for allegedly mis-selling mortgage endowment policies.

Millions of people in the 1980s took out endowments to finance their mortgages and as many as half of those may have been mis-sold.

The Financial Services Authority (FSA), which […]

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Scotland is paying a high price for the transfer of financial services jobs overseas, according to a think tank.

The Corporate Social Responsibility Foundation predicts job losses in the sector will cost the UK economy at least 2.7bn over the next decade.

It said that is the total of salaries […]

Source: News - Swiss Re to buy GE insurance firm
Reinsurer Swiss Re has agreed to pay $6.8bn (4bn) for the insurance unit of industrial giant General Electric.

Swiss Re will sell $7.5bn of new shares to finance the acquisition and cover the debts of GE Insurance Solutions.

Buying the firm will turn Swiss Re into […]

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Royal & Sun Alliance (RSA) staff have accepted a new, cheaper retirement plan that will cut the firm’s pensions deficit by nearly a quarter.

The UK insurer has switched to a cheaper pension scheme based on average career earnings rather than a person’s final salary.

Royal & Sun said this […]

Insurer Aviva has ruled out making a hostile bid for Prudential despite its proposed 17bn offer being turned down.

Shares in Prudential surged after Aviva set out its offer, adding that any bid would have to be recommended by Prudential’s board.

The UK’s largest insurer said it was offering 82 new Aviva shares for every 100 […]

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Tyrone’s GAA Chairman Pat Darcy has strongly denied reports that the county has failed to support Brian McGuigan during his current injury absence.

McGuigan suffered a serious leg break in in May and had to take six months off from work because of the injury.

Darcy said that the […]

China Life Insurance has said the US stock market watchdog has not told it of any investigation into its international share trading debut.

It was the biggest stock market listing anywhere in the world during 2003, raising $3.4bn (1.8bn) in a double debut in New York and Hong Kong.

China Life issued its statement after the […]