Tag: Europe

Post Office launches life insurance

Posted by | Oct 24, 2007 | |

The Post Office today announces the launch of a new product into the life market, and is offering a GBP 100 cash back bonus to anyone taking out a policy.*

Post Office Life Insurance has the flexibility for customers to choose Level Term cover which pays out a fixed lump sum to the deceased’s dependents in the event of their death or Decreasing Term which is suitable for those with a repayment mortgage as the sum assured decreases in line with the outstanding mortgage.

Both products offer up to GBP 500,000 worth of life cover and people can get cover from as little as GBP 5 a month and choose the amount and length of cover they require.

The new life insurance will join the Post Office®’s recently launched Over 50s Life Cover to create a suite of life products, offering affordable and comprehensive peace of mind to customers wanting to protect their loved ones and their home.

In line with the Post Office®’s other financial policies, the new life insurance product is easy to understand and simple to apply for.

The Post Office® will be able to accept more life insurance applicants on standard terms by using an interactive application process, which will see fewer applications referred to its underwriters for a decision on health issues.

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John Lewis selects Home Delivery Network as partner

Posted by | Oct 24, 2007 | |

Home Delivery Network has been selected by John Lewis Partnership to carry out home deliveries on behalf of the department store chain.

Under the terms of the rolling contract, Home Delivery Network will handle more than one million parcels annually for the John Lewis Partnership.

Walter Blackwood, Home Delivery Network managing director, said: “We are delighted the John Lewis Partnership has chosen our next day delivery service and we look forward to a long association with this well established company.”

Stuart Hill of John Lewis Partnership added that Home Delivery Network had been selected for its “unique ability” to adapt operations to the retailer’s increasing needs.

The UK’s largest dedicated home delivery service, Home Delivery Network delivers items from flowers to furniture, with more than 120 million items a year delivered to all 120 postal regions of the UK.

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Belgium's postal service could be privatised

Posted by | Oct 23, 2007 | |

La Poste/De Post could be privatised under a new Belgium coalition government according to Finance Minister Didier Reynders in an interview for the L’Echo newspaper.

Belgium currently owns 50.01 per cent of La Poste/De Post, the rest is owned by Post Danmark A/S and CVC Capital partners.

La Poste/De Post is Belgium’s leading service provider in the mail handling business sector. The company’s main activities include letter post, the provision of financial services and e-business.

The change could happen due to the defeat of the Socialist Party in June this year.

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EU probes La Poste

Posted by | Oct 23, 2007 | |

European Union regulators on Tuesday began an investigation into the French government’s unlimited guarantee for La Poste, that allows the state-run postal service to borrow money on better terms than privately held rivals.

If it uncovers evidence that France is unfairly subsidizing La Poste in a way that would damage rivals, it can order Paris to end the guarantee under threat of court action and daily fines.

La Poste’s special status as a publicly owned company means it is exempt from ordinary bankruptcy and insolvency procedures and the state could ultimately be held liable for its debts.

“Because its competitors do not enjoy the same advantage, the guarantee is likely to distort competition … at a time when the postal sector is being liberalized,” the European Commission said.

France failed to obey an EU order last year to end the guarantee, regulators said. Follow-up negotiations failed to convince the EU executive that France would terminate the guarantee, they said.

La Poste’s guarantee has limits on duration or amount and is provided free of charge. It covers the basic mail delivery La Poste provides in the public interest and – with state payment – the commercial business La Poste is supposed to run without government help.

The Commission said it was not calling into question La Poste’s position governed by public law or its public ownership.

After a similar EU demand, France withdrew an unlimited guarantee in December 2003 that had been granted to Electricite de France SA.

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