Article Abstract:
Cox Insurance has placed shares with Warburg Pincus Ventures following an investment by George Soros hedge funds into Limit and CLM, both Lloyd's of London investment trusts. Cox Insurance is a managing agent for Lloyd's of London, and syndicates managed by Cox have a good performance record. Cox reported a rise in profit of 25% to 373,000 pounds sterling for the six months to Sep 1995. The shares are better suited to professionals until an agreement has been reached over Equitas.
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Article Abstract:
Union Bank of Switzerland (UBS) is linking up with Swiss Life in a move into the insurance business. UBS has been criticised for low profitability levels and this move appears to be an attempt to counter the criticism. UBS is acquiring a stake of 25% in Swiss Life, which is to become a joint stock company rather than a mutual. The move is likely to help boost UBS' profitability, and could lead to UBS acquiring a larger stake in Swiss Life.
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Article Abstract:
Legal & General (L&G) outperformed the rest of the UK life insurance sector in 1st-half 2001, with UK new business up 30%. L&G has also been active in forming alliances with UK banks. L&G shares are tipped to rise further.
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