Association Of British Insurers

Association Of British Insurers News

• Ocado Shareholders Register Protest Vote Over Executive Pay

  Almost a quarter of Ocado Group Plc shareholders voted against the company’s annual remuneration report as investors registered a protest.

• U.K. Reviews Riot Definition to Aid Insurance Claims

  The U.K. government said it will review the Riot Damages Act to examine the criteria for when compensation is due and prevent fraudulent insurance claims two years after the nation’s worst riots since the 1980s.

• Barclays Plan to Issue CoCos Said to Meet Investor Resistance

  Barclays Plc, Britain’s second- biggest lender, is facing shareholder resistance to plans to issue contingent convertible bonds, or CoCos, that may dilute existing investors, people with knowledge of the talks said.

• Punch Taverns Chairman Continues to Support Debt Proposal

  Stephen Billingham, chairman of Punch Taverns Plc, the U.K. pub owner that had its proposal to restructure 2.4 billion pounds ($3.7 billion) of debt rejected by bondholders last month, said the debt plan works.

• Punch Taverns Chairman Says Its Debt Proposal Is Best And Works

  Stephen Billingham, chairman of Punch Taverns Plc, the U.K. pub owner that had its proposal to restructure 2.4 billion pound ($3.7 billion) of debt rejected by bondholders last month, said the debt plan works.

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  Battle With Bondholders Looms After G-20 Agrees on Basel Rules

  The next hurdle to bank reform is looming after U.S. President Barack Obama and other Group of 20 leaders endorsed the Basel Committee on Banking Supervision’s new rules in South Korea last week: the bond market.

• U.K. Lawmakers to Probe Cost of Insurance Whiplash Claims

  U.K. lawmakers will probe how far auto-insurance costs are being raised by whiplash claims now estimated by insurers at 1,500 a day.

• U.K. May Start Lloyds Stake Sale This Year, Talbut Says

  The U.K. government may start selling its 40 percent stake Lloyds Banking Group Plc this year after a surge in the bank’s shares, according to Robert Talbut, chief investment officer of Royal London Asset Management Ltd.

• Online Tax, Peregrine, Whitman Founder Trial: Compliance

  Amazon.com Inc. and brick-and-mortar stores urged U.S. senators to pass legislation to let states collect sales taxes from online retailers based elsewhere, as other Internet companies said they oppose the measure.

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  Britain’s Missing Infrastructure Billions Blamed on Government

  The U.K.’s biggest investors want to put billions of pounds into British infrastructure, creating jobs and growth in an economy that is still smaller than it was in 2009. The government is preventing them, they say.

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