Having Just Changed My Insurance

  crosstrainer 06:27 18 Sep 2008

Company from Lloyds TSB to Halifax, I awake this morning to discover that I'm back in the same boat!

If they change the premium or policy I'll be back to searching for a better quote again!

  wiz-king 06:32 18 Sep 2008

Is it named Titanic?

  crosstrainer 06:38 18 Sep 2008

I do hope not, all my savings are with them as well..... It will create the largest bank in Britain, but the monopoly commission have seen fit to "Tear up the rule book" in this instance to protect Halifax and RBS customers.

  GANDALF <|:-)> 07:01 18 Sep 2008

So Lloyds TSB has taken over a company that is and will continue to hemorrhage money and has a declining capital base that was supported by low interest loans that will not now be available. To cap it all, the company's only assets are declining and has a sizeable arrears base.

Anyone care to guess the slight problems that could occur in the future and the flaws in this business plan which has been cobbled together by the half-wits who caused this financial maelstromm in the first place?


  crosstrainer 07:06 18 Sep 2008

...........The word;s "Money" and "Mattress" spring to mind.

  oldbeefer2 09:55 18 Sep 2008

Good article in the Torygraph this morning setting out the diffences in policy between bosses of the two companies.

  GANDALF <|:-)> 10:37 18 Sep 2008

'So Lloyds TSB has taken over a company'..incorrect, they have taken over a debt laden vehicle.


  crosstrainer 11:19 18 Sep 2008

As GANDALF <|:-)> says, this is not a takeover, but a rescue....Keep the good bit's and bin the bad (speculative estimates as high as 40k jobs could go)

In a takeover, HBOS shares would have been riding high in the market, not sinking to the depths as has occurred here.

Lloyds may well be laughing...For now.

  spuds 11:56 18 Sep 2008

At yesterdays read, I would be more concerned about AIG and their insurance empire.

I remember years ago, when an insurance company called Fire Auto Marine run by a guy called Suvundra (!) went bust. Literally thousands of people were using uninsured vehicles and commodities without realising the implications of not being told of the failure of the company.

  oresome 12:35 18 Sep 2008

Lloyds shareholders certainly aren't laughing.

The final 2008 dividend has been dropped and from being a company largely unscathed by the financial turmoil, it's now in the thick of it.

I'm now waiting for the rights issue to pay for the deal and bolster their reserves.

  medicine hat 12:50 18 Sep 2008

As Lloyds has been largely unscathed by the international turmoil, their management must have made some really sensible decisions over the last few years. Why can't this be just another?

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