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.... In the UK, for example, the help to buy initiative has subsidised home purchases with down payments of only 5%. Another way the US has long subsidised housing debt is through the huge quasi-government mortgage underwriters Fannie Mae and Freddie Mac. ... [Read full article on Guardian ]
Tuesday 30th of May 2017 09:54:25 AM
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Latest Finance News related to Underwriter

Why help to buy is no help at all to the economy | Jeffrey Frankel image
Source : Guardian [Read Article] Tuesday 30th of May 2017 09:54:25 AM
.... In the UK, for example, the help to buy initiative has subsidised home purchases with down payments of only 5%. Another way the US has long subsidised housing debt is through the huge quasi-government mortgage underwriters Fannie Mae and Freddie Mac. ...
Cybercrime on the high seas: the new threat facing billionaire superyacht owners image
.... But the security has not kept up and is vulnerable to attack”. “The biggest problems are extortion,” said Ben Lind, a superyacht insurance underwriter at AIG. ...
Spotify may bypass IPO and list directly on stock market image
Source : BBC [Read Article] Friday 7th of April 2017 01:55:50 AM
....The bank also looks at the company as part of the process for setting a reasonable initial offer price for the shares. The underwriters "build a book" - that is, they go to institutional investors to gauge the appetite for the shares in the company that's going to be floated. ...
Blurred lines? image
Source : BBC [Read Article] Monday 20th of March 2017 12:02:25 AM
.... . If someone wished to insure a ship, that could be done too: a contract would be drawn up, and the insurer would sign his name underneath - hence the term "underwriter". ...
Interest-only mortgage deals: Bank to help 100,000s borrowers with new change image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 02:15:00 PM
.... "Other good options are Family Building Society, which lends up to age 90 and has a flexible interest-only policy (sale of property/downsizing). "The issue does come, however, when borrowers try to use their earned income in the calculations as underwriters won`t accept that people working at say 70, will be doing the same thing at age 90. ...
Lloyd's alcohol ban challenges City of London's drinking culture image
Source : Guardian [Read Article] Friday 17th of February 2017 06:14:58 PM
....At another pub nearby, however, two brokers who work in the Lloyd’s market laughed at the notion of the ban – each clutching a tall pint of lager. The new restrictions apply only to back office workers directly employed by Lloyd’s – not the brokers and underwriters who do business there, they pointed out. ...
Pay-as-you-go car insurance – perfect for the low-mileage driver? image
Source : Guardian [Read Article] Saturday 11th of February 2017 07:00:09 AM
.... There are no maximum age limits at this stage. While Cuvva is registered with the Financial Conduct Authority and has an underwriter in place, Just Miles is still going through those processes. ...
Deadline: one month left to file your tax return image
Source : Guardian [Read Article] Saturday 31st of December 2016 07:00:21 AM
....• you were a trustee of a trust or registered pension scheme. Some other categories of people may need to send a return – for example, religious ministers or Lloyd’s underwriters. ...
Italy's political class should be very alarmed if MPS needs state bailout image
Source : Guardian [Read Article] Wednesday 21st of December 2016 07:38:35 PM
....January’s planned €13bn recapitalisation of Unicredit should still be safe. Unicredit is bigger, its bad debts are less severe and underwriters are already in place. ...
Passport stolen on holiday? Don’t expect your travel insurer to pay up image
Source : Guardian [Read Article] Friday 16th of December 2016 10:38:37 AM
....Holidaysafe was recently named as the Consumer Moneyfacts travel insurance provider of the year. TCF told Guardian Money that the underwriter has now decided to add an extra £500 to the payout as a gesture of goodwill. ...
Italian banks are living on borrowed time … and money image
Source : Guardian [Read Article] Tuesday 13th of December 2016 08:30:32 PM
....5% in 2019, it will be back in land of the respectable. The self-help plan seems bold enough to ensure that the fundraising will succeed in January without the need to call on the underwriters; there are only a few weeks to wait, and Italy won’t be holding any more referendums. ...
Motorists at risk from log book delays image
Source : BBC [Read Article] Wednesday 7th of December 2016 01:41:00 PM
....Insurance companies also require drivers to disclose both the owner and the registered keeper of a vehicle. Roy Rodger, an expert on insurance law who has trained underwriters, warns that drivers' confusion over withheld log books could lead to costly mistakes. ...
‘Confused’ Axa use every excuse in the book to avoid my travel insurance claim image
....Days later we received another call from Axa, telling us that a mistake had been made and the claim was no longer approved because an aunt does not qualify as a “close relative”. I wrote to protest and received a further call from Axa, advising that an independent underwriter had agreed that, in the circumstances, the aunt could be deemed to be a “close relative”. ...
When the wrong postcode puts insurance out of your reach image
Source : Guardian [Read Article] Sunday 30th of October 2016 06:01:01 AM
....David and Laura Henderson [not their real names] saw their household cover premiums go through the roof after they moved from an apartment in Stratford, east London, to an adjacent block. The couple contacted a well-known national insurance broker and was told none of its underwriters would even give them a quote. ...
Wells Fargo chief forfeits $41m amid corruption probe image
Source : BBC [Read Article] Wednesday 28th of September 2016 12:23:05 AM
....California, meanwhile. announced it was dropping Wells Fargo as its bond underwriter and broker-dealer because of the scandal. ...
Why it pays to keep track of the score of your credit image
Source : Daily Express [Read Article] Wednesday 4th of May 2016 10:58:00 AM
....”. Ironically, Britons who have never borrowed a penny may have a poor credit history as underwriters do not have enough information to judge their creditworthiness. ...
IPO process needs improving, says FCA image
Source : Guardian [Read Article] Wednesday 13th of April 2016 11:22:42 AM
....Its report painted a picture of an uncompetitive market dominated by big operators and beset by potential conflicts of interest. In particular, providing cheap lending and broking services in return for big fees for selling securities makes it hard for smaller underwriters to compete for that work. ...
Black box car insurance: a young driver’s new best friend behind the dashboard image
.... Its black boxes collect driving patterns such as acceleration, braking and cornering information, which is then put in the context of the type of road, the speed limit and the vehicle being driven. This data is given to underwriters, who can make a more accurate assessment of the young driver’s ability, which the firm says is better than the crude demographic traditionally used by insurance companies. ...
Insurers brace for another wave of takeovers image
Source : Telegraph [Read Article] Wednesday 27th of January 2016 05:15:53 AM
.... In the UK, Aviva paid £5. 6bn to take over Friends Life, while several underwriters in the Lloyd's of London market have been swallowed up by global companies. ...
Inga Beale: ‘Let’s use the words people are uncomfortable using – lesbian, gay’ image
....But she adds: “I also have to check myself for unconscious bias. ” At one point she had ended up running an entirely female team of insurance underwriters, and acknowledges now: “You also have to look for people who are different to you. ...
Inga Beale: ‘Let’s use the words people are uncomfortable using – lesbian, gay’ image
....But she adds: “I also have to check myself for unconscious bias. ” At one point she had ended up running an entirely female team of insurance underwriters, and acknowledges now: “You also have to look for people who are different to you. ...
Davos: Doctors and lawyers could be replaced by robots image
Source : Telegraph [Read Article] Wednesday 20th of January 2016 06:50:00 PM
.... . Recent research by the University of Oxford found that therapists, mental health and social workers were at the least risk of automation, while telemarketers and insurance underwriters were the most at risk. ...
'Halifax car insurance charged extra £26 for crash that wasn't my fault - and I didn't make a claim' image
.... . Halifax uses a panel of insurers and it tells me that whether or not what has happened will be reflected in future premiums will depend on the respective underwriters. ...
The political effects of financial crises image
Source : Guardian [Read Article] Thursday 24th of December 2015 09:31:57 AM
....Roughly a third, mesmerised by the meretricious appeal of the Efficient Market Hypothesis, argued that governments were the original sinners. Their ill-conceived interventions – notably the US-backed mortgage underwriters Fannie Mae and Freddie Mac, as well as the Community Reinvestment Act – distorted market incentives. ...
Risk of insolvency hangs over high street retailers after difficult run-up to Christmas image
....The comments from Atradius are significant because if a credit insurer refuses to back a retailer then suppliers will be unable to insure their orders with the business and could decide not to provide it with products. Owen Bassett, senior risk underwriter at Atradius, said: “Those who went into the fourth quarter needing – rather than wanting – a strong performance could be looking at a troubled future. ...
South African pension fund rides to rescue of miner Lonmin image
Source : Telegraph [Read Article] Monday 14th of December 2015 08:52:30 AM
.... However, only 19bn shares were taken up by Lonmin’s existing shareholders. The company’s underwriters – including HSBC, JPMorgan Cazenove and Standard Bank – had to find subscribers for the remaining 8m shares in a “rump placing”. ...
Lonmin underwriters sell shares to South Africa pension fund image
Source : Guardian [Read Article] Friday 11th of December 2015 12:38:57 PM
....82%), the so-called rump. Public Investment Corporation (PIC), South Africa’s state pension fund, was the largest buyer of the underwriters’ shares. ...
Lonmin’s do-or-die rights issue attracts 71pc take-up image
Source : Telegraph [Read Article] Friday 11th of December 2015 09:14:45 AM
.... . Investec analysts said the size of the take-up suggested that shareholders were contributing $283m to the equity raising "with underwriters likely having to cover the remainder". ...
Myanmar stock exchange signals new era image
Source : BBC [Read Article] Wednesday 9th of December 2015 04:55:33 PM
....Myanmar opened its first stock exchange on Wednesday, despite having no companies listed until next year. Six groups have been approved, but delays in confirming underwriters pushed back the timeframe for listings. ...
Don’t be a home insurance frog – make the leap to a different policy image
Source : Guardian [Read Article] Saturday 5th of December 2015 07:01:06 AM
.... When they are told their premium has gone up by 5%-10%, then the switching rate increases, although not catastrophically from the insurer’s point of view – 11%-18% more consumers switch or renegotiate their policy. Knowing this, underwriters will probably continue to shove through 5% increases, even if unwarranted by underlying claims, safe in the knowledge the customer won’t move. ...
Women warned to beware pregnancy pitfalls when applying for a mortgage image
Source : Guardian [Read Article] Sunday 22nd of November 2015 07:00:11 AM
....” So lenders will typically ask if you are aware of any changes to your income or expenditure in the future. If you answer yes because you are expecting a child, the underwriter will usually assess whether you can afford the mortgage as though you already have an additional dependent, says Mugleston. ...
Flood insurance: 'How has my premium leapt 550pc when I'm nowhere near water?' image
.... . "Instead of having an underwriter assess the situation, the insurer just follows the information generated by its systems and hikes the premiums or adds an expensive excess. ...
Tinder owner valued at more than £2bn image
Source : Telegraph [Read Article] Monday 9th of November 2015 04:48:42 PM
.... On Monday, Match said it expects to sell 33. 3m shares at between $12 and $14, as well as an option to sell another 5m to underwriters. ...
RBS to sell off final stake in US bank Citizens image
Source : Telegraph [Read Article] Thursday 29th of October 2015 11:33:22 PM
.... . Goldman Sachs, BofA Merrill Lynch, Citigroup and JP Morgan are acting as the underwriters of the offering. ...
I haven’t had a mental health problem for 40 years, but I’m still toxic to insurers | Laura Marcus image
.... It’s time-consuming, upsetting and exhausting. I’m always referred to the underwriters before getting a quote. ...
Fiat Chrysler launches Ferrari sell-off image
Source : Guardian [Read Article] Monday 12th of October 2015 09:51:13 AM
.... The Ferrari family owns the remaining 10%. Fiat Chrysler is offering a 9% share on the market, while underwriters have a collective option for a 1% stake. ...
The Crusader: Make sure insurance tows the line image
Source : Daily Express [Read Article] Sunday 11th of October 2015 06:47:00 PM
....” . Although we agreed others should be alerted, we also thought that it was worth telling Axa, Breakdown Assist’s parent company and underwriter. ...
Lender lunacy: Halifax says we 'can't afford' a cheaper mortgage image
Source : Telegraph [Read Article] Sunday 11th of October 2015 08:58:29 AM
.... . Mr de Medici initially spoke to a Halifax underwriter who said the lender’s best deal would cut their mortgage payments to £2,100, even when the shorter loan term is factored in. ...
Ferrari to be valued at $10bn in stock market flotation image
Source : Telegraph [Read Article] Friday 9th of October 2015 10:49:42 PM
.... . Ferrari added Allen & Co, BNP Paribas, JP Morgan and Mediobanca to its list of underwriters that includes Banco Santander, BofA Merrill Lynch and UBS Investment Bank. ...
Being a company director has ticked all the wrong boxes with Santander image
Source : Guardian [Read Article] Wednesday 7th of October 2015 06:01:02 AM
. We are in danger of losing our dream home due to Santander mortgage underwriters who only seem to tick boxes. ...
Swiss Re seals  £1.6billion Guardian deal image
Source : Daily Express [Read Article] Thursday 24th of September 2015 11:39:00 AM
.... Guardian was put up for sale earlier this year by private equity firm Cinven, under whose four-year ownership it has grown from 300,000 to 900,000 policyholders and from £8billion assets under management to £20billion. Its acquisition continues a wave of mergers and takeovers across the UK industry including Aviva buying Friends Life, Lloyd’s underwriter Amlin falling to Japan’s Mitsui Sumitomo and a tie-up between Just Retirement and Partnership Assurance. ...
Why over-declaring penalty points lets car insurers overcharge 2.8 million drivers image
.... . Dave Meader, a Direct Line underwriter, said: "We ask that all convictions which result in an endorsement are disclosed for at least five years. ...
Petco looks to harness millennials' pet obsession in third IPO attempt image
Source : Guardian [Read Article] Monday 17th of August 2015 10:11:10 PM
....Petco, which is based in San Diego, hopes to raise $100m. Goldman Sachs, Merrill Lynch, Pierce, Fenner & Smith and JP Morgan are among the IPO’s underwriters. ...
The Crusader: Age-old problem of vet’s bills image
Source : Daily Express [Read Article] Sunday 9th of August 2015 06:36:00 PM
....”. The underwriter for Animal Friends is Red Sands, based in Gibraltar but regulated in the UK. ...
'Why did insurer increase car premium when 91-year-old was removed from policy?' image
.... JS, Hants . A policyholder’s perception of “risk” and an underwriter’s perception are not always the same. ...
Drones boom 'puts insurers at risk of multi-million bill' image
Source : Independent [Read Article] Sunday 26th of July 2015 08:45:00 PM
....Earlier this year, Amazon’s founder Jeff Bezos unveiled plans for Amazon Prime Air, which could see the internet giant use drones to deliver small packages. “Within the next 10 to 15 years, drones could replace cranes on construction sites and monitor traffic jams on public highways, which means new risks for aviation underwriters,” said Thomas Kriesmann, a senior underwriter at AGCS. ...
Unmoved by couple’s plea: It pays to check out removal firms' insurance policies image
....The investigation is continuing, but many vital general lessons that could help others planning a move have emerged from this couple’s experience. Alicia and Ben’s policy, or rather the summary fact sheet which is all they were given, only mentions an underwriter in Europe. ...
'I asked my insurer to remove fallen trees in my garden. It said no but my premium doubled'  image
.... But the couple, who live in Lymington, Hampshire, became concerned about the "claim" when they tried to find out their renewal premium. They were told by the RAC that there was a delay as the underwriter, RSA, was still considering a renewal quote because of the recorded "loss" on their account. ...
I got a mortgage aged 92: tide turns for older borrowers image
Source : Telegraph [Read Article] Sunday 21st of June 2015 07:04:59 AM
.... . The society’s underwriter, Phil Townsend, said mortgage applicants in their 70s typically had three motives to borrow: “They either want to raise money for children or grandchildren; or they want to raise cash for a buy-to-let property to generate income, or they want to buy a holiday home for themselves and their family to enjoy. ...
What price loyalty to an insurer? Policyholders should look again image
Source : Guardian [Read Article] Saturday 20th of June 2015 05:59:07 AM
....A spokesman for Saga told us that the property was an unusual one to insure as it is a holiday home and has timber walls. Just one of the underwriters on its panel, Towergate, offered cover, but “re-rated the risk on this type of property”, which drove up the premium. ...
Computers could replace five million Australian jobs within two decades image
....The report says there is a high probability that occupations such as accountants, estate agents and economists will not exist or will be significantly depleted by the 2030s. It says information and telecommunication advances will probably affect jobs from telemarketers to insurance underwriters to radiologists, while in other professions computers will make individuals far more productive than they are now and significantly reduce the demand for these types of workers. ...
'A neighbour's flying trampoline caused £2,300 damage to my car - and now MY premiums will rise' image
.... This means that protecting the discount has no impact on the underlying premium. Tesco said whether your premium is affected by this claim will become apparent only when the new premium is generated by the underwriter 28 days before renewal. ...
Fleming family's insurance broker sells itself to American private equity image
.... . This increasingly global reach has drawn interest from larger insurers and investors, prompting a string of takeovers and mergers of the underwriters and brokers. ...
Source : Independent [Read Article] Thursday 30th of April 2015 12:11:30 AM
....This success shouldn’t come as too much of a surprise. TSB is unusual in that it gives those brokers direct access to its mortgage underwriters, something usually only available with the smaller lenders (and at the rate TSB is growing it won’t be long in that category). ...
Nasdaq sets aside $31m to compensate investors in botched $16bn Facebook IPO image
.... . A disastrous first day of trading, hampered by technical glitches and confused investors, meant underwriters had to step in and buy the stock to prevent the price falling below the $38 issue level. ...
Did Etsy's IPO herald a pivot from Wall Street's 'greed is good' standard? image
....” For some insiders, the initial public offerings market captures the truth of this better than most other corners of the financial world, if only because it offers the opportunity for so many different folks to get their noses into the trough. The investment banks are eager to collect some of the fattest fees that Wall Street offers, at least when measured as a percentage of the size of the deal (as much as 7% of the proceeds go to the underwriters). ...
How China grew desperate to conceal its power from the world image
Source : Telegraph [Read Article] Saturday 11th of April 2015 02:00:05 PM
.... . Mr Summers has hailed the birth of the China-led institution as the moment the US lost its role as “the underwriter of the global economic system”. ...
'Lloyds Bank said that at 75 I was too old for a credit card' image
Source : Telegraph [Read Article] Friday 10th of April 2015 09:54:12 AM
.... . The spokesman added: "For customers who are over the age of 75, we have a policy in place to refer them to our underwriters, so we can make sure that any income is sustainable. ...
How Lloyd’s joined the war on global terror image
Source : Telegraph [Read Article] Saturday 28th of March 2015 03:00:56 PM
.... First in the queue is a fuel depot in the Caribbean, brought to the desk by one of the hundreds of brokers who must walk around the room, folder tucked under his arm, to find cover for a client. It’s a renewal for a customer on a relatively sleepy island, and the underwriter is happy to sign off a hefty no-claims discount within minutes. ...
Aviva backs down in dispute over ill-health annuity arrangement image
Source : Telegraph [Read Article] Friday 27th of March 2015 03:00:15 PM
.... . After I contacted it, Aviva’s annuity underwriters reviewed your medical history taking into account the guidance that would have applied in January 2009. ...
How much does it cost to insure against tragedy in the skies? image
Source : Independent [Read Article] Friday 27th of March 2015 12:58:07 AM
....Discovered in the wreck of a British ship off the coast of Holland in 1859, Lloyd’s of London’s Lutine Bell was traditionally rung once for good news and twice for bad – when an insured vessel failed to turn up at its port of call. The idea was that underwriters would eventually find out whether the ship had arrived, or not, at the same time, preventing unscrupulous characters from passing on the risk to unknowing rivals. ...
Lloyd's of London maintains profits under pressure on insurance prices image
Source : Telegraph [Read Article] Thursday 26th of March 2015 12:53:15 PM
.... . Ms Beale said the group would put the brakes on consolidation if it led to one underwriter controlling more than 15pc of the overall market, but the current wave of takeovers has not come close to this level. ...
'Travel insurer won't pay for our £7,789 cancelled cruise' image
Source : Telegraph [Read Article] Friday 13th of March 2015 06:06:34 PM
.... . Staysure says: “There is a process for underwriters to validate and approve claims and this includes confirmation of records from the GP. ...
Serco suffers profits collapse but on 'path to recovery' says CEO image
Source : Telegraph [Read Article] Thursday 12th of March 2015 11:22:52 AM
.... . It is understood that the commission being charged by the rights issue's underwriters is 2pc - a rate back down at pre-crisis levels and half what many banks were able to impose during rescue fundraisings in the wake of the crash. ...
All the ways mortgage lenders game the rules to their own benefit image
Source : Telegraph [Read Article] Sunday 8th of March 2015 08:10:35 AM
.... But some lenders are disjointed in their thinking. Branch staff and in-house mortgage advisers tell customers there should be no problem porting their loan or remortgaging, for example, but the underwriters refuse the application on the grounds of affordability. ...
Mortgage chaos for thousands of people moving home image
Source : Telegraph [Read Article] Friday 6th of March 2015 10:00:50 PM
.... . Rebecca Dewhurst, who was prevented by Santander from transferring her interest-only mortgage, said: "It's crazy, once we move our monthly outgoings will actually fall, but the underwriters said that under the new rules the loan will not be affordable. ...
After five years of talks, the world’s largest employee-owned insurance firm is created image
.... The recent glut of takeovers has turned attention to the next potential targets. RFIB, a London insurance and reinsurance broker, is understood to have invited takeover bids, while analysts have highlighted Lancashire and Novae as the listed Lloyd’s underwriters most likely to find themselves in the crosshairs. ...
Source : Independent [Read Article] Thursday 26th of February 2015 09:13:11 AM
.... Profits were a little better than expected. It has started dealing with mortgage brokers and allows them to speak directly to TSB underwriters. ...
Brit Insurance caught by £1.2bn deal image
Source : Daily Express [Read Article] Wednesday 18th of February 2015 11:46:00 AM
....It's hot on the heels of New York-listed insurer XL's £2. 8billion acquisition of Catlin, the biggest-ever takeover of a Lloyd's of London underwriter. ...
Flood insurance for my buy-to-let is set to jump 500pc. What can I do? image
Source : Telegraph [Read Article] Friday 6th of February 2015 09:13:06 AM
.... . My property did not flood, nor did any in its vicinity, but I guess the underwriters are wary of my particular postcode. ...
Source : Independent [Read Article] Saturday 31st of January 2015 12:44:18 AM
.... . Demand from investors had raised the figure above an expected price range of $17 to $19 per share – and way above the $14 to $16 originally set by the underwriters, JP Morgan and Morgan Stanley. ...
Shake Shack valued at nearly $2bn as shares soar in market debut image
Source : Independent [Read Article] Friday 30th of January 2015 05:00:45 PM
....In its initial public offering on Thursday Shake Shack, which originated from a hot dog cart in Manhattan’s Madison Square Park, raised $105 million (£70 million) after it sold five million shares at $21 (£14). Demand from investors had raised the figure above an expected price range of $17 to $19 per share – and way above the $14 to $16 originally set by underwriters JP Morgan and Morgan Stanley. ...
Virginia Wade: 'My Wimbledon win was £13k, today it's £1.76m' image
Source : Telegraph [Read Article] Friday 16th of January 2015 03:20:23 PM
.... I was very lucky with Lloyd’s. My people didn’t like what was going on with one syndicate where the underwriters had taken themselves out, and swift reallocation of my assets minimised the effects. ...
Now millions face mortgage 'porting' woes when moving image
Source : Telegraph [Read Article] Sunday 11th of January 2015 08:07:15 AM
.... The Simpsons were initially led to believe they could port the loan. Then they had a meeting with an HSBC adviser and submitted a detailed application to the underwriters, who to their shock declined the transfer based on affordability concerns. ...
Source : Independent [Read Article] Saturday 10th of January 2015 01:49:39 AM
. The US-listed XL Group has agreed to buy the Lloyd’s of London underwriter Catlin for £2. ...

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