Aviva: Direct Line buyout ‘firmly on track’ despite CMA investigation May 15, 2025 Aviva expects its £3.7bn acquisition of Direct Line to be completed by the middle of this year despite a new investigation by the competition watchdog into the deal. In a trading update, the insurance giant’s CEO, Amanda Blanc, said the acquisition was “firmly on track,” and cash to pay for the takeover had been ring-fenced. Yesterday, the Competition [...]
Direct Line suffers shareholder revolt over CEO’s huge pay day May 14, 2025 The group behind Direct Line has suffered a huge revolt by its shareholders over its chief executive being handed a huge pay day ahead of its planned £3.7bn takeover by Aviva. In March, Morning Wire reported that Adam Winslow took home a pay packet of more than £7.8m for the insurance giant’s latest financial year. [...]
CMA to investigate Aviva’s £3.7bn Direct Line deal May 14, 2025 The UK’s competition watchdog has begun an investigation into insurance giant Aviva’s proposed £3.7bn acquisition of Direct Line. The Competition and Markets Authority said it had commenced its phase one inquiry to establish whether the deal would result in a “realistic prospect of a substantial lessening of competition.” The CMA has invited comment on the [...]
Lloyd’s of London selects Patrick Tiernan for CEO position May 8, 2025 Lloyd's of London appointed Patrick Tiernan as its chief executive officer after John Neal revealed in January is was going to step down
Mercer: Pension funds need better pick of UK investments for key deal to work May 1, 2025 The government’s proposed pensions deal will not boost growth unless better UK investment opportunities are put on offer, the boss of one of Britain’s biggest funds has warned. In an interview with Morning Wire, Benoit Hudon suggested a stronger pipeline of UK assets was needed as current options did not deliver good enough returns for [...]
Direct Line boss gets huge pay day ahead of Aviva’s £3.7bn takeover March 11, 2025 The chief executive of Direct Line Group has received a huge pay day ahead of its £3.7bn takeover by Aviva. Adam Winslow took home a pay packet of more than £7.8m for the insurance giant’s latest financial year, according to its annual report. The CEO’s pay was significantly boosted by a £5.8m payment from Direct [...]
Aviva beats profit expectations amidst Direct Line takeover February 27, 2025 Aviva Plc smashed expectations in its annual profit results amidst its landmark takeover of fellow insurer Direct Line. The FTSE 100 giant posted a 20 per cent increase in operating profit to £1.77bn in 2024. The target surpassed Bloomberg analyst expectations of £1.71bn. Shares in Aviva have returned 11 per cent so far this year, [...]
Rachel Reeves urges financial services to back emerging markets February 20, 2025 Rachel Reeves has met with top financial services firms to urge them to work with development institutions and within “emerging markets”. The Chancellor met with firms including Aviva, HSBC and Schroders in Canary Wharf today, as she called on industry leaders to seize on growth opportunities and shore up London as a leader in development [...]
Aviva Investors warns three funds failing on performance February 19, 2025 Aviva Investors has flagged three of its funds as failing to deliver value for customers on performance, though it said no changes will be made to the funds. Aviva, which manages 15 investment funds, revealed in its latest Assessment of Value report that three funds are struggling to beat their benchmark. Asset managers are required [...]
How many days a week is the FTSE 100 spending in the office? January 29, 2025 In an exclusive poll for Morning Wire, Joanna Hodgson surveys major firms to see if hybrid working is still king in the UK A three-day office week is dominant among some of Britain’s biggest companies, with employers spanning insurance, financial services and property continuing to embrace flexible working in 2025, findings from an exclusive City [...]