Insurance news

• Pay-as-you-go car insurance – perfect for the low-mileage driver?

  11-02-2017 08:00
  
  Do you drive just a few miles a year but still end up paying lots for motor cover? Two start-up firms offering pay-as-you-go policies could be the answerMillions of people buy their mobile phone service on a pay-as-you-go contract – and now we are being offered car insurance in the same way, paying just for the miles we drive.In the next few months two start-up insurance firms will begin offering pay-as-you-drive car insurance products that claim to do away with the big up front annual pre
  
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• Aon to use Hewitt unit proceeds for M&A and buybacks

  11-02-2017 03:43
  Aon will channel proceeds from the $4.8bn sale of its benefits
  administration and HR business process outsourcing platform to
  Blackstone towards a blend of share repurchase and M&A,
  according to management on a call with analysts.
  The firm's CFO Christa Davies said it expects after-tax cash
  proceeds to be around $3bn, which added to free cash flow will give
  the London-based broker and consulting firm "substantial
  amounts of cash to invest".
  "We really believe we're going to invest in a...
  
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• Greenberg settles NY securities fraud charges for $9mn

  11-02-2017 01:29
  Former AIG boss Maurice "Hank" Greenberg has admitted
  to initiating, participating in and approving two sham reinsurance
  deals at the heart of charges he has denied for over a decade, New
  York Attorney General Eric Schneiderman said today.
  Greenberg has agreed to forfeit $9mn, Schneiderman said in
  announcing the end of a 12-year battle with the industry veteran
  over the civil charges.
  Once uncovered, the transactions were tied to the giant
  insurer's restatement of its accounts to correct for aro
  
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