Author Archives: AIB

The World’s Largest Sailing Yacht

Worlds Biggest Sailing Yacht It probably does not come as a surprise to read that the owner of the world’s biggest sailing yacht is Russian although it is not Roman Abramovich who owns Chelsea Football Club. The yacht has in fact been built for Andrey Igorevich Melnichenko who is the founder of a number of businesses including EuroChem that produces fertilizer and is estimated to have a personal worth of around £6 billion. He also owns an expensive motorized sea-going vessel called “Motor Yacht A” that he is to retain.

The three-masted steel hulled yacht that has been called quite simply “Sailing Yacht A” is estimated to have cost in the region of £260 million and was built in Germany although the masts were in fact constructed in Portsmouth and then transported to the shipyard. Building work started on the yacht in 2012 and it completed its maiden voyage last year. It is believed to be being fitted out at the moment and may be ready for use in the summer of this year.

It has a length of 468 feet and the main mast has a height of 300 feet. There are 8 floors and it has a deck that is finished in teak. It is capable of a top speed of 24 mph and will cruise at 18 mph. It will, of course, have a helicopter pad.

An interesting feature is the underwater glass observation room built into the keel that covers 193 square feet. Needless to say, the luxury sailing vessel also has a swimming pool. Obviously security is a priority so the glass is bomb proof and there are numerous security cameras.

It is expected to have a crew of 54 and can accommodate up to 20 guests. Presumably the owner and guests will want for nothing in terms of accommodation and the service they receive whilst on board this luxurious super- yacht.

Flood Re Confirms Authorisation

We are delighted to confirm the Flood Re scheme has received authorisation by both the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) from 1 April 2016 and AIB have been signed off as competent, ready to go from the 6th April 2016.

As such, we will go live with the scheme with effect from 6th April 2016 with Flood Re expecting up to 350,000 households to benefit from the government led initiative.

Earlier this month, Flood Re CEO Brendan McCafferty told members of the All Party Parliamentary Group for Insurance and Financial Services that the scheme had two issues to solve before it would be authorised by the PRA.

McCafferty commented: “I am delighted that we now have authorisation from the regulators. The Flood Re team is continuing to work hard with insurers ahead of launch.

“From 4 April, Flood Re will be live and ready to accept policies. A list of insurers that will be using the scheme will be available on the Flood Re website from the evening of Friday 1 April.”

McCafferty has repeatedly urged brokers to get ready for the scheme and AIB have invested time and money to make sure we are well positioned to provide the cover.

Nigel Gould of AIB said, “We were aware some insurers were making the Flood Re proposition available through their direct channels first, which would have put us on the back foot. As such, we have invested heavily and believe we are perfectly placed to provide our clients the most suitable options and offerings if they live in a flood risk area.

Flood Re is a new way to help people who live in flood risk areas get affordable home insurance. It launches on April 4th 2016. It is not a home insurer itself – instead it works behind the scenes with existing insurance companies.

Flood Re helps insurers offer more affordable flood insurance to those in areas at risk of flooding. It will mean people can shop around more easily to find policies with more affordable premiums and excesses. The scheme will develop over time so people should find they have even more choice in the future.

Call us now on 02380 268351 or click here: https://www.aib-insurance.co.uk/news/aib-launch-flood-re-scheme

AIB launch Flood Re Scheme

AIB are delighted to announce the launch of our Flood Re insurance offering.

The eagerly anticipated government led scheme, designed to provide affordable home insurance solutions for clients who live in a flood risk area or those properties that may have a history of flooding has now received authorisation.

For more information call our team on 02380 268351 or CLICK HERE

Lagonda Once Owned By Royalty To Be Auctioned

How would you like to own a car once driven by a member of the British royal family? Well, if you can make it to the H & H Classics auction that is to take place on the 20th April 2016 at the Imperial War Museum in Duxford in Cambridgeshire you could find yourself in that position.

That is because a Lagonda 3-litre Drop Head Coupe once owned by HRH The Duke of Edinburgh is to be auctioned and it will probably come as no surprise to read that it comes with quite an interesting history. In view of the fact that it was His Royal Highness’s vehicle this classic car is expected to sell for far more than it would normally.

Prince Phillip had it built for his use back in 1954 and it remained in his ownership until 1961. It was used for a variety of journeys such as to take his son Prince Charles to his prep school in Cheam and to visit Cowdray. He even took the car on the royal yacht Britannia when he toured The Commonwealth back in 1956-1957. For instance, one of the places that it was seen at was at the Melbourne Olympics in 1956. Back in 1959, he opened the MI motorway and drove the car to the ceremony.

The vehicle has done some 50,000 miles and still has its original leather upholstery. It has been repainted in Edinburgh Green and had an additional vanity mirror fitted for the use of the Queen to help her make sure her hat was correctly positioned. It used to have a radio telephone.

So, how much might you have to pay for this Lagonda? Well, it is estimated that it could sell for anything between £350,000 to £450,000. If it did not have the history that it has then it is thought it may have gone for 3 to 4 times less than that. It just goes to show what impact a Royal connection could have on the price of something such as a classic car.

BASE Jumper Parachutes From The Shard

Those of you that participate in parachuting or skydiving will no doubt be aware that there are a number of experienced parachutists that also enjoy the thrill of BASE jumping from a fixed structure. Needless to say, this later form of decent is even more dangerous than parachuting from a fixed wing aircraft with one reason being that the height of the drop is frequently considerably less than from many thousands of feet from an aircraft.

The fixed structures that people drop from are building, antenna, span and earth – hence the term “BASE”.

Well, you may be interested to read that it is believed a man has recently BASE jumped from the highest building not only in the UK but also in the European Union. The building in question is called The Shard. It is located close to London Bridge. It is 87 storeys tall reaching a height of almost 310 metres. There are spectacular views from the glass-covered building that also incorporates various offices, a hotel and a number of restaurants.

Apparently, the BASE jumper is believed to have parachuted down shortly after 10 am on Saturday 12th March landing in a street close by. The individual in question who is thought to have landed safely did not hang around and made a quick exit with the parachute. The police have not been able to find out who made the jump.

There are very few places that you can legally BASE jump with The Shard no doubt not being one of them! One of the locations where you can legally carry out this activity is from the Perrine Bridge that is situated in Twin Falls, Idaho in the USA. It is almost 500 feet in height above the Snake River. In fact, a Guinness World record is held by someone who carried out 201 BASE jumps in a period of 21 hours back in 2006.

In Which Part Of England Are Tenants Most Satisfied With Their Landlord?

The National Landlords Association (NLA) has recently carried out some research into how satisfied tenants are in various parts of England with their landlord.

Interestingly, throughout all the English regions, 79% of tenants stated that they were pleased with their landlord.

The research revealed that tenants in the East Midlands are the happiest with 83% of those tenants taking part in the survey in that part of the country expressing their view that they were satisfied with the relationship they had with their landlord. People renting in the South West and North West of the country were jointly second in this satisfaction survey with 82% being satisfied – only just below the East Midlands. In third place were tenants living in the South East at 80%.

The West Midlands was in fourth spot with 79%. Yorkshire and the Humber was in fifth place with 73%. London was in sixth spot on 72%. East of England finished in seventh place on 71% and in last spot was the North East with a disappointing 67%.

As you can see, whilst the majority of tenants are satisfied with their landlord, there is quite a wide difference in terms of satisfaction between the East Midlands (83%) and the North East with only 67%. To have such a difference does seem strange and begs the question why?

There will no doubt be a variety of reasons why some tenants are unhappy with their landlord and, in a number of cases, there may be “two sides to every story”. However, it would undoubtedly be preferable if both parties got on with one another. After all, it is probably easier for a tenant to accept a rent increase if he or she is happy living in the rental property and a tenant is more likely to respect and look after the property, fittings and its contents if they are satisfied with their landlord. Apparently, the NLA can provide training for landlords to assist them in improving standards.

Possibly The Most Exclusive Hotel In The World?

There are numerous luxurious hotels in various exotic locations around the world, the owners of some considering theirs to be the most exclusive for several reasons. Well, there is a hotel currently under construction that is claiming to be the most luxurious hotel anywhere in the world.

It is to be called “ The 13”. It is located in Macau that is a wealthy city in China renowned for its gambling casinos and has the nickname “Las Vegas of Asia” It is estimated to be costing in the region of £1 billion to complete.

The hotel, that is expected to open in the summer of 2016, is being done in a Baroque style with each suite individually designed and fitted out to the highest of standards that you can imagine. Access to each suite is via a lift that, upon exiting, guests will initially walk into their own lobby.

There are to be 200 suites ranging in size from 2,000 to 30,000 square feet. There is even a butler available 24 hours a day for the use of the occupants of each of the luxurious suites. The one-bedroomed suites will have such things as a king size bed with velvet canopy and gilded headboard and a Roman style marble bath capable of holding 8 guests with a retractable marble floor that covers the bath when not being used with a wonderful crystal chandelier hanging from the ceiling. Details of what will be in the larger suites have yet to be announced but they will no doubt be spectacular.

Guests can be transported around in one of 30 Rolls-Royce Phantoms that have been individually fitted out. Apparently, these vehicles made up the biggest single order ever taken by Rolls Royce at a cost of in the region of £14 million.

Needless to say, there will be fine dining of the highest standard available to be enjoyed by hotel guests.

No details have yet been released as to how much it will cost to spend a night in The 13 but it certainly sounds like this hotel is geared towards, shall we say, the wealthier individual. We would love to hear what you think of the hotel if you do stay there.

Which Location In The UK Sells Homes The Quickest?

When you put your property on the market, you are probably going to want to find a buyer as quickly as possible. So, how long does it take on average to sell a home? According to Rightmove, it takes an average of 79 days to sell a home in the UK through them? Back in January 2015 it was taking an average of 87 days.

Well, not if you live in Dartford it doesn’t!

On average it only takes 16 days to sell a home in Dartford. That is a considerable reduction when compared with January last year when it was taking an average of 49 days to sell a home. Furthermore, property prices in Dartford have gone up by 17% in the 12 months to January 2016.

Some of the reasons why Dartford is so popular could be that it is in the London commuter belt and houses are being placed on the market for less than an average of £300,000 whereas in London, you would expect to pay an average of more than twice that figure. There are an increasing number of people that did live in London that have chosen to move out to the likes of Dartford. In addition, there are more properties being sold for investment purposes. The area is also well known for its good schooling.

Below we have listed the top 10 locations outside London where property sells the quickest along with the average number of days it takes: –

1. Dartford, Kent – 16 days
2. Grays, Essex – 26 days
3. Benfleet, Essex – 28 days
4. Crawley, West Sussex – 30 days
5. Leigh-On-Sea, Essex – 30 days
6. Stevenage, Hertfordshire – 31 days
7. Bristol – 31 days
8. Watford, Hertfordshire – 32 days
9. Rochester, Kent – 33 days
10. Reading, Berkshire – 33 days

As you can see all the above locations, with the exception of Bristol, are easily commutable to London.

The place where properties take the longest time to sell is Darlington in County Durham where it takes an average of 132 days. Second slowest is St Helens on Merseyside where it takes 128 days and third slowest is Wakefield in West Yorkshire where it takes an average of 120 days.

The location that has seen the biggest drop in the time taken to sell a property when comparing January 2016 with January 2015 is Clacton-on-Sea in Essex. In January of this year it took an average of 50 days to sell a property whereas 12 months previously it was taking 95 days – a difference of 45 days.

Incidentally, if you are buying a property then you will no doubt require buildings and contents insurance. We have an extensive panel of insurers so why not get in touch with us here at AIB Insurance on 02380 268 351 and we will discuss your requirements and arrange a no-obligation quotation for your consideration.

Aston Martin Driven In Spectre Sells For £2.4 Million

All you James Bond fans will no doubt have watched Spectre that was released last year and subsequently received some good reviews. In addition to Daniel Craig being one of the stars there was also another important participant in the exciting film – an Aston Martin DB 10.

In fact, back on the 20th January last year, we mentioned that the vehicle was going to be appearing in the film. Well, it did but what has now caught the public’s attention is the fact that a few days ago the famous sports car was sold at auction in aid of charity fetching a price way above the guide price.

This particular DB10 that was one of only ten built went under the hammer at Christie’s. It had been estimated to fetch in the region of £1 million but went for a mouth-watering £2.4 million to an unknown buyer. There was an awful lot of competition for the famous vehicle which is possibly one of the reasons why it achieved the price it did. Another thing that may have driven the sale price upwards could be the fact that the Aston Martin DB 10 is signed by Daniel Craig.

The amazing thing is that the new owner will not be able to take the car out for a spin on the public highway as it was not built to normal car production standards. This has obviously not put off the new owner.

This is a particular powerful, exclusive sports car. It has a V8 4.7 litre engine that is capable of reaching a top speed of about 190mph. Its 500 bhp engine will take the car from 0 to 62 mph in about four seconds – that is a nippy vehicle.

The charities that are to benefit from the sale proceeds include Medecins Sans Frontieres, the United Nations Mine Action Service and the Danish Refugee Council.

There were a number of other items sold at the auction for charity including the “Day of the Dead” costume that Daniel Craig wore. It fetched £98,500. A watch that was worn by Daniel Craig was also sold. It was an Omega Seamaster 300. It fetched £92,500. The auction raised £2,785,500.

If you are the proud owner of an Aston Martin, whether it is a brand new one or a classic model, why not get a competitive quotation to insure your pride and joy from us here at AIB Insurance. Just give us a call on 02380 268 351 and speak with an experienced member of our team.

Ferrari Sells For 32 Million Euros

A classic red Ferrari 335 Sport Scaglietti that was one of only four models built back in 1957 has been sold at a Paris auction for 32 million euros with this equating to around £24.8 million/ $35.8 million. Although it is not the most that a Ferrari has gone for as a 1962 Ferrari 250 GTO achieved a price of $38 million in 2014, for a racing car, this is a world record and it is also the most expensive car that has been sold in Euros.

The classic car has been driven by some well-known racing drivers that included the famous Sir Stirling Moss who won a Grand Prix in Cuba in it the year after it was built. It was driven by the British racing driver Mike Hawthorn at a Le Mans 24 Hour race when it set a lap record achieving a speed averaging 124mph. It also took part in the Italian Mille Miglia in addition to some other races.

It was originally fitted with a V12 3.8 litre engine that produced an impressive 360 bhp as it accelerated to a top speed of 186mph. However, having taken part in a number of races, the engine was replaced with a 4.1 litre one that produced 400 bhp.

The car was bought in 1970 by the late Pierre Bardinon who was a well-known collector of cars as well as being a racing driver and it remained in the family until being sold a few days ago. In fact, he amassed a collection of around fifty Ferraris.

Apparently, two interested purchasers spent the best part of ten minutes bidding against each other for the car at the auction last week. The buyer’s name has not been announced.

Here at AIB Insurance, we have had the pleasure of insuring numerous classic cars although, admittedly, not one worth 32 million euros – YET! So, if you are the proud owner of a classic car why not give us a call on 02380 268 351 and let one of our experienced team obtain a competitive quotation for you without any obligation.