ABI urges Chancellor to cut £7bn tax on insurance policies Insurance The Association of British Insurers (ABI) has called on Chancellor Jeremy Hunt to cut the tax levied on insurance premiums.
Car insurance claims payouts hit a record £1.1m an hour in 2023 Car insurance A staggering £9.9bn was paid out to motorists across 2023, according to the ABI, the highest annual figure since it began collecting data.
Rain, storms and floods: UK insurers rocked by record £1.4bn property claim surge insurance British insurers have been rocked by an eye-watering £1.4 billion in property claims for Q2 2024, smashing records as the biggest quarterly payout ever logged by the ABI
Insurance body ABI names Nicky Morgan new chair amid management shake up November 10, 2021 Former MP Nicky Morgan has been appointed as the first independent chair of the Association of British Insurers (ABI), as the trade body overhauls its management. Two more senior appointments were today announced by the ABI, whose members include Aviva and Axa, as part of reforms by the organisation to improve consumer trust in the [...]
ABI director general to take up partner role at KPMG May 19, 2021 Huw Evans, director general at the Association of British Insurers (ABI), will join KPMG as a partner next January in the Big Four firm’s insurance and long-term savings division. Evans had been director general at the ABI for more than six years, during which he represented the insurance industry through Brexit, Solvency II implementation, pension [...]
Car insurance premiums hit highest levels since records began August 11, 2023 Motor insurance premiums have soared to their highest levels since records began, according to research from the Association of British Insurers (ABI). Over the last year, the average price paid for car insurance rose 21 per cent to £511, the highest since the ABI began collecting data in 2012. The ABI said that “sustained cost [...]
Pension money managers hail ‘progress’ on start-up plans despite sluggish investment July 30, 2024 Pension money managers that backed a plan to pump cash into start-ups last year have hailed “good progress” today despite still investing a fraction of their total assets into so-called growth companies.
Minister urges insurers to ‘swiftly resolve’ riot claims August 12, 2024 Insurers have been urged to “swiftly resolve” claims from businesses which suffered damage during the recent rioting.
Expensive repairs and second-hand car costs push motor claims to record £2.4bn in first quarter June 9, 2023 A record £2.4 billion was paid out in motor claims in the first quarter of this year as firms find surging costs increasingly challenging to absorb, according to the Association of British Insurers (ABI). More expensive vehicle repairs, rising second-hand car costs and longer repair times are among the challenges faced by insurers, although there [...]
UK motor insurers break payout records as the sector battles rising cost December 4, 2023 Insurance companies have paid out £2.5bn in motor insurance claims in the third quarter of the year, which was a 21 per cent jump on the same period last year. Over the third quarter of 2023, UK insurers have issued the highest quarterly payout since the Association of British Insurers (ABI) began collecting this data [...]