The view of AA Insurance is that the simple step of taking a motorbike awareness course can help cut motorcycle insurance premiums as well as making them safer road users. A spokesman from AA Insurance pointed out that motorbikes are a more risky form of transport than any other, primarily because of the chances of the rider being injured when involved in any sort of accident. He added that, if bikers take the correct precautions then they can greatly reduce the chances of being involved in an accident. On the subject of the motorcycle awareness course the AA Insurance representative went on to say that having an awareness and a sense of caution when on a bike is a good thing. It helps riders focus on issues that may arise and can help avoid accidents that would otherwise happen.
The Brazilian arm of Zurich Insurance has just announced the purchase of two insurance companies in the South American country. The deal, which is worth around GBP120 million, gives Zurich Insurance and 87 percent stake in one company and a 100 percent stake in another. Zurich will make an initial payment of GBP89 million for the two businesses, plus a GBP15 million bancassurance agreement and the potential for a further GBP15 million paid out if performance figures are achieved. Bancassurance will enable the newly acquired businesses to sell their Zurich Insurance products through local bank branches, a significant opportunity and well worth the amount paid.
It is rumoured that the RBS could be ready to sell its stake in Tesco Finance, with a move expected within a few days. Tesco Finance has RBS holding a 50 percent share of the business, which could be worth up to GBP950 million. This money would come in very handy for RBS, which has had a torrid time recently with the credit crunch denting its finances. This is just one of several sales that RBS appear to moving ahead with in their quest for GBP4 billion of extra money. The management at Tesco Finance are unperturbed by the suggested sale since they have a very strong business position that would be attractive to any investor.