Westpac Buys Lloyds Assets as Rules Encourage Asia Retreat

Westpac Banking Corp. (WBC) agreed to buy Lloyds Banking Group Plc (LLOY)’s Australian assets as tighter capital rules following the 2008 financial crisis prompt European and U.S. lenders to retreat from the Asia-Pacific region. The transaction valued at A$1.45 billion ($1.37 billion) includes an A$8.4 billion leasing and corporate loan portfolio, Sydney-based Westpac, Australia’s second-largest lender by market value, said today in a statement.......

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L&G bids for Co-op's household business

Legal & General has tabled a bid for the Co-operative Group’s household insurance book, according to reports. Sky News reports that L&G is not interested in the mutual’s motor insurance book, an approach which is forcing the Co-op to consider dividing up the business. Catalina Holdings and Anacap are also reported to be amongst the bidders for the Co-op’s general insurance operation. And former RSA chief Andy Haste is rumoured to be working on a separate bid with private equity firm Advent International. A Co-op spokesman said: “We do not comment on speculation. We will issue an update......

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Glitches Mar Rollout Of Health Care Marketplaces

Technical glitches continued to plague the first day of healthcare signups for the Affordable Care Act -- more commonly known as Obamacare -- on Tuesday, with the healthcare.gov website at times temporarily shutting down. Republican critics of the healthcare program were quick to point out the problems, while President Obama said the mix-ups were largely a consequence of massive consumer demand. "We're working to resolve the issue as soon as possible," the website told users who attempted to sign up for health insurance on the federal exchanges. "Please try again later." Before the site......

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The Key players of Bettencourt scandal

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Obamacare and Mega Blue

The Obama administration plans on Monday to announce scores of new health insurance options to be offered to consumers around the country by the Blue Cross and Blue Shield Association and the United States Office of Personnel Management, the agency that arranges health benefits for federal employees, according to administration officials.The options are part of a multistate insurance program that Congress authorized in 2010 to increase......

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Cavalcade of Risk #193: Call for Submissions (And A Special Note)

Dennis Wall hosts next week's Cav, and he's chosen to build it around a rather interesting (and provocative) theme:The Rich Get Richer from the Great Recession, The Unemployed Stopped Looking.So, please try to submit a post that fits this theme (of course, non-themed posts are also welcome).Submissions are due by Monday the 30th.To submit your risk-related post, just click here to email it.You'll need to provide:■ Your post's url and title■ Your blog's url and name■ Your name and email■ A (brief) summary of the postPLEASE remember: ONLY posts that relate to risk (not personal finance tips......

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Cute vs Real

This is how Ms Shecantbeserious sees the ObamaTax:And this is reality, barking back at her:[HatTip: Ace of Spad......

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