Lloyds of London to spend £300m on new solvency rules

first_img whatsapp Lloyds of London to spend £300m on new solvency rules by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Wednesday 26 January 2011 3:55 am Lloyd’s of London expects to spend £300m preparing for the European Union’s new Solvency II capital rules for insurers, the chairman of the insurance market said.“It’s a huge task,” said Peter Levene, Lloyd’s of London chairman told Reuters Insider. “It’s costing Lloyds markets just to get ready for Solvency II £300m. It’s a lot of money and it’s a diversion of effort.”Lloyd’s said earlier this month it was on course to spend £250m preparing for the Solvency II rules designed to ensure that insurers hold capital in proportion to the risks they underwrite that come into force in 2013.Some insurers are worried the new regime could result in an unwarranted ratcheting up of capital requirements, eroding profits and pushing up prices for customers.“The concept behind is good but we need to get details right and it does take peoples’ eye off the ball,” Levene told Reuters on the sidelines of the World Economic Forum in Davos.Many insurers such as Allianz and Axa say they have big doubts about the rules, while reinsurer Munich Re has backed a five-year phase-in.The cost of adopting Solvency II for the industry as a whole is likely to be “significantly higher” than the European Commission’s estimate of 3bn euros (£2.5bn ), accountants PwC have said. John Dunne center_img whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Show Comments ▼ Share Tags: NULLlast_img read more

FMBcapital Holdings Plc (FMBCH.mw) 2015 Annual Report

first_imgFMBcapital Holdings Plc (FMBCH.mw) listed on the Malawi Stock Exchange under the Banking sector has released it’s 2015 annual report.For more information about FMBcapital Holdings Plc (FMBCH.mw) reports, abridged reports, interim earnings results and earnings presentations, visit the FMBcapital Holdings Plc (FMBCH.mw) company page on AfricanFinancials.Document: FMBcapital Holdings Plc (FMBCH.mw)  2015 annual report.Company ProfileFMBcapital Holdings (FMBCH) is the Mauritius based holding company for the FMBcapital Group and was listed on the Malawi Stock Exchange in September 2017 following a one for one share swap with First Merchant Bank of Malawi shareholders. FMBCH has banking and finance operations in Botswana, Malawi, Mozambique, Zambia and Zimbabwe. It is primarily an investment holding company with interests as follows: First Capital Bank, Malawi – 100% (established June 1995)First Capital Bank, Botswana – 38,60% (established July 2008)Capital Bank Mozambique – 70% (acquired June 2013)First Capital Bank, Zambia – 49% (acquired June 2013)First Capital Bank in association with Barclays – 62% (acquired October 2017) Through its subsidiaries, FMBCH offers a comprehensive range of financial products and services to both corporate and retail sectors. The Global Credit Rating Co. has consistently given FMB an annual Long Term Rating of A+ and a Short Term Rating of A1 since 2007. FMBcapital Holdings Plc is listed on the Malawi Stock Exchangelast_img read more

Nampak Zimbabwe Limited (NPKZ.zw) 2019 Abridged Report

first_imgNampak Zimbabwe Limited (NPKZ.zw) listed on the Zimbabwe Stock Exchange under the Paper & Packaging sector has released it’s 2019 abridged results.For more information about Nampak Zimbabwe Limited (NPKZ.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the Nampak Zimbabwe Limited (NPKZ.zw) company page on AfricanFinancials.Document: Nampak Zimbabwe Limited (NPKZ.zw)  2019 abridged results.Company ProfileNampak Zimbabwe Limited manufactures and markets packaging products which includes paper, plastic and metal packaging. It also has interests in leasing biological assets and a timber processing plant. Subsidiaries in the Paper division includes Hunyani Corrugated Products Division, Hunyani Cartons, Labels & Sacks Division, Hunyani Management Services Division, Hunyani Forests Limited, Hunyani Properties Limited and Softex Tissue Products (Private) Limited. Other subsidiaries include MegaPak Zimbabwe and CarnaudMetalbox Zimbabwe Limited operating in the plastics and metals segment; and companies manufacturing corrugated containers and specialised packaging for the tobacco, horticultural, flori-cultural and citrus industry for local distribution and export. Mega Pak Zimbabwe offers technology solutions for blow molding, injection molding, stretch blow molding and rotational molding. Nampak Zimbabwe Limited is listed on the Zimbabwe Stock Exchangelast_img read more