Direct Line has rebuffed rival Aviva's £3.3 billion ($4.2 billion) takeover offer, saying that it considers the "highly opportunistic" approach "substantially undervalued" the U.K. insurance company, which this year returned to profitability.
Direct Line has rebuffed rival Aviva's £3.3 billion ($4.2 billion) takeover offer, saying that it considers the "highly opportunistic" approach "substantially undervalued" the U.K. insurance company, which this year returned to profitability.
The retirement savings watchdog has said that its role as a regulator will change as pension schemes become consolidated into much larger megafunds and effectively become too big to fail.
The Financial Conduct Authority issued "significant" revisions to controversial proposals for publicizing investigations of wrongdoing on Thursday, including a move to give businesses more time to make justifications to the watchdog before being named.
Insurer AXA has lost its fight over time limits for bringing claims for restitution against the British tax authority over taxes collected in violation of European Union law, as a London appeals court ruled that the limits could not be extended.
Approximately three quarters of British savers with a defined contribution retirement savings plan feel they are not on track to achieve a reasonable standard of living in retirement, according to research published Thursday by the asset management giant BlackRock.
The European insurance and pensions watchdog launched a consultation Thursday on a proposed digital risk and prevention awareness tool to help homeowners understand their exposure to natural hazards caused by climate change.
