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It was a tense affair last night at the Finsbury Oval and Club Chairman Jason Sykes moved early to comment on the result stating, "World cricket has enough problems at the moment without speculation about this result. The ICC investigations will get to the source of the problem and until then I stand by my players 100%".
In August 2010, High Finance Group employee Olivier Vidal travelled to St Moritz, to race in the International Moth European Championships.
Olivier has been competing in sailing competitions since he was eight years old and was a member of the British Junior, Youth and Olympic Development Programmes.
AXA Insurance have appointed Waseem Malik as their new finance director. Having been at the company since 2006, Malik will now take responsibility for finance and strategy across the company. The new role also means that he will become a member of the AXA Insurance executive committee.
The High Finance Group Trojans took on the Towers Watson Warriors in an end of season clash last night at the Finsbury Oval. With the Trojans handing out a few debuts to some of their up and coming talented youth team members this promised to be an enthralling battle.
Following last weeks news of Aviva's rejection of RSA's offer for their General Insurance business, Aviva have defended their decision. Aviva believe there are benefits to holding on to both their life and non-life businesses and have issued a statement justifying this news stating: "The board of Aviva considered the proposal carefully in conjunction with its advisers and is convinced that the highest value to shareholders will be delivered by retaining these businesses within the group."
The statement goes on to list a number of reasons for this decision including the fact that current figures do not reflect the potential of the business since the market is currently at a cyclical low.
Aviva are standing by the recent changes they have made saying there has been "a material improvement in current year profitability, ahead of the market recovery occurring."
However, RSA have responded that the takeover would benefit both sets of shareholders and that through holding on to both sides of the businesses they are in fact decreasing the effectiveness of both in comparison to their competitors.
The Post Online has reported that a £5bn offer from RSA for Aviva's General Insurance business has been rejected. Watch this space for more on this story as it unfolds.
Following previous stories of staff departures from the FSA as highlighted by High Finance Group (see Brenchley Jumps Ship to KPMG and Edwards Follows Brenchley Out), Reynolds Porter Chamberlain have released figures stating that there has been an 128% rise in resignations at the regulator. With more people resigning in the first 6 months of this year, than in whole of last year, these figures do not read well for the Insurance industry as a whole. These resignations are having a knock on effect upon businesses working with the FSA. Here at High Finance Group we are interested to see if the publication of these figures will have any affect upon current employees at the FSA.
High Finance Group was interested to read an article in the Telegraph about the changes Aviva has been making in the UK insurance market. This article details the differences between Prudential and Aviva since 2006 and speculates on how Aviva's first half profits will appear when they are published this week.
Following last weeks news of the departure of Paul Brenchley from the FSA (see BRENCHLEY JUMPS SHIP TO KPMG) another member of the FSA's Solvency II team is set to leave. Tim Edwards is leaving to join PwC where his role will involve assisting clients in implementing the requirements of the Solvency II directive. PwC has also announced the addition of Paul Clarke to their Solvency II team, and Symon Dawson, Matt Nichols, Kirsty Ward and David Wong PwC have been appointed as partners to the insurance practice.
With more news about the FSA's future filtering through, the regulator has lost another member of its team. Paul Brenchley, who was a manager within the Solvency II department has joined KPMG's Insurance Risk Team as a director. Brenchley's work involved developing the Solvency II regime at the FSA with particular focus upon the Pillar 2 and Pillar 3 requirements.
High Finance Group has been following the changes at the FSA closely, and is interested to see this new development.
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