Chapter 627 Friendship Insurance
Friends Provident Group was founded in 1832 and has a history of 176 years.
It was the first company in the UK to provide life insurance and other related products to private customers, and is currently the fifth largest life insurance company in the UK.
It manages more than £100 billion in funds, employs more than 3,900 people, and manages more than three million policies and bills for clients around the world.
In fact, two years ago, Youcheng Group was the second largest life insurance company in the UK. However, due to the subprime mortgage crisis, Youcheng Group's investment losses expanded. In addition, affected by this, Youcheng Insurance's group pension fund and protection Sales of sex products dropped significantly, making it impossible to retain more funds, so it shrunk.
You can tell by looking at the revenue data of Youcheng Insurance Group. In 2006, they were still able to make a profit of 328 million pounds. But last year, Youcheng Insurance Group announced a loss of 56 million pounds!
As a result, this year, just now, Youcheng Group's losses in the first three quarters have reached 330 million pounds, and its full-year losses are expected to exceed 450 million pounds.
This can directly be called a plummet...
According to the information Barron received, as an insurance company, Youcheng Insurance Group did not have any problems, but the key is their investment in those insurance funds...
As we all know, an important way for insurance companies to make profits is to collect premiums from users, and then use these funds to invest, and ultimately obtain poor returns.
But the problem is that Youcheng Group's investment is really hard to explain - also because of Youcheng Group's huge losses, its shareholders are also putting pressure on the company's management, asking them to sell the company.
Previously, DS Holdings (Cavendish Trust) contacted Youcheng Insurance Group. Under Barron's instruction, Amber Sheehan quoted a price of US$2.35 billion, hoping to acquire the company.
However, although the all-cash acquisition plan of DS Holdings has made the shareholders of Youcheng Insurance Group very excited - the company's continuous losses, and the losses are getting bigger and bigger, have made these shareholders desperate and hope to sell their stocks. .
But in the end, Youcheng Group rejected DS Holdings' bid on the grounds that the bid was "too low." You should know that although Youcheng Group's current market value is around US$2.2 billion, they still believe that this was mainly due to the recent bad news. It was caused by the sell-off, and the actual value of Youcheng Insurance Group is higher than this figure...
In fact, DS Holdings also thinks so after analyzing the situation of Youcheng Insurance Group. However, since the leak has not been successful, they will continue to negotiate with Youcheng Insurance Group and prepare to increase the acquisition price...
…
"I saw that SEM Group bought "ELLE"?"
"Yes honey, are you interested in these magazines?"
Bonnie gently stirred the coffee evenly, took a sip, and said with a smile:
"It's not bad. I watch these often, and Zhukova told me a while ago that she was going to buy "POP" to give it a try..."
In the end, SEM Group successfully defeated the Hearst Group for 1.5 billion euros and purchased the Huache Group as a whole from Lagardère Vitality Media Group, allowing this media group whose main business is fashion magazines to Became a wholly-owned subsidiary of SEM Group.
As for Zhukova, she is already married to Abu. Barron remembers that in the original time and space, she did acquire a fashion magazine targeting young people and became successful after revising it.
"Why, is she still going to convince you to do this together?"
"That's not the case. After I declined her last time, Zhukova only occasionally got some advice from me..."
Bonnie said:
"But I heard that she is contacting some friends in the fashion industry, including the former editor-in-chief of French Vogue, hoping that they will join her magazine."
In the past two years, Zhu Kewa has indeed struggled with some things. For example, she and her childhood friend Christina Tang, a girl from China HK, launched the fashion brand Kova \u0026 T. The brand name comes from the abbreviations of her and her childhood surnames.
In addition, she also founded an art and creative center in Russia, but these can only be said to be some movements, far from being successful.
"Although I think Zhukova is slightly more reliable in business than Victoria, I still recommend that you find something interesting to do in SEM Group..."
"Okay, but let's wait until Richard is older. Recently, I can only go to the company occasionally."
Although facing their second child, Richard, Bonnie had a lot more experience than when she gave birth to George.
But after all, the child is still too young. Even if maids help take care of it, Bonnie still needs time to accompany her.
Therefore, as a director of SEM Group, the time she has spent in the company recently cannot be counted too much.
Barron's birthday has always been very low-key. He spent his 28th birthday accompanied by his wife and children.
Well, he didn't hold a birthday party this year, and he didn't even invite some familiar people. Perhaps as he grows older, he is no longer keen on such things.
It has been six years since he came to this world. If his previous life is included, then Barron's mental age is already over forty years old...
"I have found those people, Your Highness."
In Barron's study, Mikhail Ritter, dressed in black, sat in the shadow of the light, seemingly blending into the shadow.
As Barron's guardian in the dark, Mikhail will not only provide him with a secret vigilance team in addition to Barron's public bodyguards, but will also be responsible for doing some things for Barron... that need to be done under the table.
This time, Mikhail was one step ahead of the London police and found the perpetrator of the burglary that Joe Harriman encountered.
"I went from the direction of selling stolen goods. Someone secretly sold jewelry in East London. It came from another family in the same community that was robbed on the same day as Ms. Harriman..."
Mikhail followed this clue and sent people to lock down a theft team and control the other party...
As for whether they are illegal detention?
Don't worry, the London police won't even know about these things.
"It has been basically confirmed that among the people they stole, there was Ms. Joe Harriman, and the stolen goods are still in their hands. I have found the stolen goods from their hiding place..."
"I need to know if this is just a random theft, and not an action with other purposes."
Hearing Barron's words, Mikhail nodded:
"I will confirm this again, Your Highness."
I believe that with the "good behavior" of those people at this time, they will tell the truth.
After all, when they were on Sonaland Island in Cyprus, Mikhail had a lot of experience in how to make people "good".
