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Ron Sandler
Ron Sandler CBE is a British businessman best known for his contribution in the rescue of Lloyd's of London, where he was CEO from 1995 to 1999. He was also the government-appointed executive chairman of Northern Rock during its three-year nationalization. Early life Sandler was born in 1952 in Durban, South Africa, and grew up in Bulawayo, Rhodesia (now Zimbabwe), where he was educated at Milton School. In 1970, he was awarded the Anglo American Open Scholarship to Queens' College, Cambridge where his undergraduate degree was in engineering. During his time at Cambridge, he received a blue in Modern Pentathlon. His post-graduate study was at Stanford University, where he received an MBA in 1976.Northern Rock plc , HM Treasury, 17 February 2008 Early career In 1976, Sandler joined T ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyd's Of London
Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body governed by the Lloyd's Act 1871 and subsequent Acts of Parliament. It operates as a partially-mutualised marketplace within which multiple financial backers, grouped in syndicates, come together to pool and spread risk. These underwriters, or "members", are a collection of both corporations and private individuals, the latter being traditionally known as "Names". The business underwritten at Lloyd's is predominantly general insurance and reinsurance, although a small number of syndicates write term life insurance. The market has its roots in marine insurance and was founded by Edward Lloyd at his coffee house on Tower Street in 1688. Today, it has a dedicated building on Lime Street which is Grade I listed. Traditionally business is tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Northern Rock
Northern Rock, formerly the Northern Rock Building Society, was a British bank. Based at Regent Centre in Newcastle upon Tyne, United Kingdom, Northern Rock was originally a building society. It demutualised and became Northern Rock bank in 1997, when it floated on the London Stock Exchange with the ticker symbol NRK. During the early 2000s the company borrowed substantially to fund mortgages, with the aim of ambitious growth, and also donated large amounts to charitable purposes and communities directly and through sponsorships. The global banking crisis beginning around 2007–08 meant that it was unable to produce income as expected from its loans, and was at risk of being unable to repay the amounts it had borrowed. The news that the bank had approached the government for support with its liquidity led within 24 hours to a public lack of confidence and concerns that savings were at risk, and the bank failed following a bank run as people rushed to withdraw their savings ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nationalization
Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to private assets or to assets owned by lower levels of government (such as municipalities) being transferred to the state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries often subject to nationalization include the commanding heights of the economy – telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water – though, in many jurisdictions, many such entities have no history of private ownership. Nationalization may occur with or without financial compensation to the former owners. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milton High School (Zimbabwe)
Milton High School is a government all-boys high school located in Bulawayo, Zimbabwe. It was the first government all-boys school established in Bulawayo. It was founded in 1910 and is named after Sir William Milton, administrator of the British South Africa Company. The school's motto is Greek and derived from the Biblical excerpt from Corinthians, 1 Corinthians 16:13, written by St. Paul to Corinthians in the face of Roman imperialism, and the Authorized Version translates it as "Quit ye like men". Milton school's connection with St. John's (the original Milton) is perpetuated in the new church in Rhodes Street where the central light of a stained glass window in the east transept in memory of an old boy, Alfred Perry, depicts the school's crest and motto. History Milton School was founded on 25 July 1910. The Milton Address The Milton Address, an annual address delivered to the school, began in 1972 to celebrate the anniversary of the school's founding. The first Milton ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford University
Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is considered among the most prestigious universities in the world. Stanford was founded in 1885 by Leland and Jane Stanford in memory of their only child, Leland Stanford Jr., who had died of typhoid fever at age 15 the previous year. Leland Stanford was a U.S. senator and former governor of California who made his fortune as a railroad tycoon. The school admitted its first students on October 1, 1891, as a coeducational and non-denominational institution. Stanford University struggled financially after the death of Leland Stanford in 1893 and again after much of the campus was damaged by the 1906 San Francisco earthquake. Following World War II, provost of Stanford Frederick Terman inspired and supported faculty and graduates' entrepreneu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equitas
Equitas is a group of companies that was formed in 1996 to assume by way of reinsurance the vast and crippling liabilities that had accumulated in the syndicates at Lloyd's of London on insurance policies written on the 1992 and all prior years of account. These liabilities were reinsured by Equitas Reinsurance Limited (ERL), which was also appointed as the run-off agent. The liabilities were then retroceded (reinsured again) to Equitas Limited, to which ERL also delegated its run-off function. Background In the late 1980s and early 1990s, Lloyd's became engulfed with losses arising predominantly out of asbestosis, pollution and health hazard policies, some dating back several decades. Thousands of individuals (known as "Names") who had invested in Lloyd's syndicates that wrote these long-tail liability risks, or reinsured other syndicates that had, were facing financial ruin. The proposal to set up the Equitas structure formed part of the Lloyd's "Reconstruction and Renewal" (R& ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NatWest
National Westminster Bank, commonly known as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. The British government currently owns around 48.1%, previously 54.7% of NatWest Group after spending £45 billion ($61.87 billion) bailing out the lender in 2008. NatWest is considered one of the Big Four clearing banks in the UK, and it has a large network of over 960 branches and 3,400 cash machines across Great Britain and offers 24-hour ''Actionline'' telephone and online banking services. Today, it has more than 7.5 million personal customers and 850,000 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sandler Review
In 2001 the Government of the United Kingdom asked the British businessman Ron Sandler to: *Identify the competitive forces driving the retail financial services industry; and *Suggest policy responses to ensure that customers are well served. Proposals The Sandler report suggested that there are three main reasons why the industry seemed to be failing to serve large portions of the population. The government is particularly worried about so called savings gap, i.e. the failure to provide adequate funds for their retirement. The report cited: *The complexity and opacity of many financial services; *The failure of the industry to attract and engage with the majority of lower- and middle – income consumers; *The inability of consumers to drive the market. Ron Sandler suggested the development of a suite of simple, low-cost, risk-controlled products. The name “Stakeholder” was given to those products, although they are still referred to as Sandler products. The maximum leve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Daily Telegraph
''The Daily Telegraph'', known online and elsewhere as ''The Telegraph'', is a national British daily broadsheet newspaper published in London by Telegraph Media Group and distributed across the United Kingdom and internationally. It was founded by Arthur B. Sleigh in 1855 as ''The Daily Telegraph & Courier''. Considered a newspaper of record over ''The Times'' in the UK in the years up to 1997, ''The Telegraph'' generally has a reputation for high-quality journalism, and has been described as being "one of the world's great titles". The paper's motto, "Was, is, and will be", appears in the editorial pages and has featured in every edition of the newspaper since 19 April 1858. The paper had a circulation of 363,183 in December 2018, descending further until it withdrew from newspaper circulation audits in 2019, having declined almost 80%, from 1.4 million in 1980.United Newspapers PLC and Fleet Holdings PLC', Monopolies and Mergers Commission (1985), pp. 5–16. Its si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ironshore
Ironshore Inc. provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its platforms in Australia, Bermuda, Canada, Ireland, Singapore, the United States and the United Kingdom. On December 5, 2016, it was announced that Ironshore will be sold to Liberty Mutual in a $3 billion transaction. History The company was founded in 2006, with more than $1 billion in equity, by Robert Clements and his son John Clements, two long-time insurance investors. Ironshore named Kevin Kelley as CEO in December 2008. Kelley had been the longtime CEO of Lexington Insurance, which became the largest excess and surplus lines insurer in the world under his leadership. Shaun Kelly resigned as president and Chief Operating Officer of Lexington and was appointed chief executive officer of U.S. Operations for Ironshore. During 2015, Ironshore acquired Dubai-based MGA, Visionary underwriting Agency Ltd, a Lloyd's Coverholders founded in 201 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1952 Births
Year 195 ( CXCV) was a common year starting on Wednesday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Scrapula and Clemens (or, less frequently, year 948 ''Ab urbe condita''). The denomination 195 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * Emperor Septimius Severus has the Roman Senate deify the previous emperor Commodus, in an attempt to gain favor with the family of Marcus Aurelius. * King Vologases V and other eastern princes support the claims of Pescennius Niger. The Roman province of Mesopotamia rises in revolt with Parthian support. Severus marches to Mesopotamia to battle the Parthians. * The Roman province of Syria is divided and the role of Antioch is diminished. The Romans annexed the Syrian cities of Edessa and Nisibis. Severus re-establish his h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alumni Of Queens' College, Cambridge
Alumni (singular: alumnus (masculine) or alumna (feminine)) are former students of a school, college, or university who have either attended or graduated in some fashion from the institution. The feminine plural alumnae is sometimes used for groups of women. The word is Latin and means "one who is being (or has been) nourished". The term is not synonymous with "graduate"; one can be an alumnus without graduating (Burt Reynolds, alumnus but not graduate of Florida State, is an example). The term is sometimes used to refer to a former employee or member of an organization, contributor, or inmate. Etymology The Latin noun ''alumnus'' means "foster son" or "pupil". It is derived from PIE ''*h₂el-'' (grow, nourish), and it is a variant of the Latin verb ''alere'' "to nourish".Merriam-Webster: alumnus .. Separate, but from the s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
