Uk General Shifts Motor Book To Ageas
The nation will be hotter than Bondi Beach in Australia today with 21C highs and more warm weather is in store. Met Office forecaster Emma Corrigan said: We are not calling it an Indian summer, but temperatures are warmer than average across southern parts of the UK with plenty of sunshine. Lapping it up: Sunbathers enjoy the sunshine on the beach in Eastbourne, Sussex PA Some parts of London could see temperatures reaching 21C, with the warmest weather expected in London, Essex and Sussex. Yesterdays hot spots included Great Yarmouth, Norfolk, which hit 21C, and Central London, Finningley, South Yorks, and Giants Causeway, in Northern Ireland, which all reached 20C. The average October highs are 14C in the South, 13C in the North and 11C in Scotland. And while Britain enjoys unseasonable warmth, the Aussies at Bondi Beach, Sydney, had to make do with a damp and miserable 18C. Ms Corrigan warned the decent spell would be broken up by cooler temperatures and showers later in the week. But the good news is that sunny periods will dominate the rest of the month, with balmy temperatures close to or above normal throughout. The weather has been so good that almost a fifth of people have delayed their main holiday until this month, according to a poll by currency exchange Travelex. Malton: Grape picking in the autumn sunshine at Ryedale Vineyards PA Retail boss Elvin Eldic said: We cant complain about the British weather this summer and it looks like many of us wanted to be here to experience it. Weve seen strong sales of currency in September a sign that holidaymakers are heading abroad in the coming autumn months as families take their break later. The firms poll also found 60% of people chose a UK holiday this year. View gallery
UK financial firm optimism highest for 17 years – CBI
Credit: Reuters/Ki Price LONDON | Mon Oct 7, 2013 12:06am BST LONDON (Reuters) – Britain’s banks and other financial firms are at their most optimistic for almost 17 years, according to an industry survey. Some 59 percent of UK financial services firms said they felt more optimistic about their business situation, compared to 6 percent who were less optimistic, according to the latest quarterly CBI/PwC financial services survey, released on Monday. The positive balance of 53 is the highest since December 1996. The survey, covering the three months to early September, also showed a net 24 percent of financial firms increased staff in the period, the biggest rise for six years. A net 14 percent of firms expect to increase staffing again in the current quarter. The CBI/PwC survey is based on the balance of firms reporting an increase and those reporting a decrease. The survey findings indicate about 10,000 jobs were added in the third quarter and another 2,000 will be created this quarter, taking UK financial services jobs to 1.14 million, CBI/PwC estimated. Business volumes fell in the latest quarter, however, mainly in banking. The CBI said 22 percent of financial firms reported a rise in business volumes, but 32 percent said they were down. A big majority of firms expect volumes to increase this quarter, it said. “Banks’ optimism is increasingly buoyant despite seeing a slight seasonal blip in commercial and industrial volumes. Activity and profitability are expected to grow as the economy recovers, and investment in new products and infrastructure is increasing,” said Kevin Burrowes, PwC’s UK financial services leader. Profitability rose for the fourth consecutive quarter, as companies managed to offset the fall in business volumes by increasing their margins, the survey showed. With costs expected to fall, profitability should increase further in the current quarter, firms said. (Reporting by Steve Slater; Editing by Christina Fincher)
UK shows evidence of changing culture in near-comeback
The move comes less than a year after UK General signed the capacity deal with QBE, under which QBE became the sole risk carrier for UK Generals commercial programme. Despite the change to the motor business, which is written by UK General division Rural, QBE will remain the carrier for UK Generals non-motor commercial risks. UK General chief executive Peter Hubbard said: UK General still has a constructive relationship with QBE. All that has happened is that its underwriting appetite has changed and as a result, weve moved our commercial motor portfolio to Ageas. The new arrangements for new business and renewals came into effect from the beginning of July. Hubbard said it was for QBE to explain the reasons for its change in appetite. But he added: From our standpoint the underwriting appetite of insurers waxes and wanes and this is no different. Its a technical issue rather than a relationship one and we still have an ongoing relationship as QBE carries the rest of our non-motor commercial risks, including property owners, retail, office and leisure capacity. QBE declined to comment, referring queries about the change to UK General. A spokeswoman for Ageas said: Were delighted to once again to be providing capacity for the Rural commercial motor book, which is a natural fit with our scheme profile. UK General signed the commercial capacity deal with QBE last year because Ageas, its main capacity provider, did not have the additional appetite UK General was looking for at the time. Hubbard said: Ageas has proved to be a strong partner for UK General in recent years, and our agreement with it has been extended to 2018. But we wanted to broaden and deepen our general SME commercial appetite in order to grow the commercial book. Ageass risk appetite did not cover those areas where we wanted to grow, and QBE stepped in. More Stories in Insurance
With Jalen Whitlow running the show, the Cats had some early hiccups on offense. Stoops, however, resisted the urge to make a switch to Maxwell Smith. “I gotta admit: I was thinking about some things in the middle of the game,” Stoops said. “I said, ‘No, let’s go with it and see where we’re at.’ ” Whitlow and the young group of skill players surrounding him rewarded their coach’s patience. UK scored touchdowns on each of its final three drives, rolling up 191 yards of total offense on 25 plays. Whitlow was proficient as both a passer and runner, completing 17-of-24 passes for 178 yards, running for 69 more, accounting for three total touchdowns and flashing the kind of ability that makes his presence so intriguing. “With that dimension, it does add some things,” Stoops said. “That was good to see. Now you start putting some real stress on the defense when you can do our normal offense and try to pick up the tempo and with the way that we try to stretch the field with the passing game and all the options that (offensive coordinator) Neal (Brown) can do with a guy that can run the ball, it could be a good threat.” Whitlow’s emergence is certainly encouraging for the short-term future of Kentucky football, but Saturday night’s performance could be even more meaningful in the long term. Just three days ago, Stoops was fuming after his team’s worst practice since the new staff’s arrival. He minced no words, saying his team would likely be blown out if the Cats played the way they practiced on Wednesday. Nonetheless, the fact that they turned around and went toe to toe with a team that still harbors national-championship aspirations on the road did not surprise Stoops. “I thought they responded after the disappointment throughout the week in our preparation and they responded and came back with great effort and passion,” Stoops said.