High Court rejects Greek bank’s claim against Lloyds insurer over ship detained in Venezuela May 18, 2022 A UK High Court has rejected a Greek bank’s $71m claim against Lloyd’s insurer Antares seeking a multi-million-dollar payout over a ship detained by Venezuelan authorities. The ruling is set to come as a relief to insurers in setting out that such situations are not covered by war risk policies. The case comes after Venezuelan [...]
Sunak’s decision to hike national insurance while cutting income tax is ‘indefensible’ March 24, 2022 Top economic forecasters today slammed Chancellor Rishi Sunak’s decision to push ahead with the national insurance tax hike while cutting the basic rate of income tax as “indefensible”. All of the windfall households will receive from lower income tax bills will be offset by fiscal drag and a 1.25 percentage point national insurance uplift and [...]
The Notebook: What Andrew Bailey and Liz Truss have learnt from football managers September 19, 2023 Today editor Andy Silvester on communication problems, the rugby world cup and a new worry for the insurance sector
Insurance bosses ready wave of investment after Solvency II shake-up February 22, 2022 Britain’s insurance giants have welcomed government plans to shake-up EU-era solvency rules as they prepare to unleash a wave of investment across the UK.
AO World shares crash amid worries over electrics retailer’s financial strength after insurer cuts cover July 4, 2022 Shares of online electricals retailer AO World are diving today amid worries over its financial strength after it was reported that a credit insurer has cut cover for the firm’s suppliers. The group saw shares fall by more than 18 per cent at one stage in morning trading today following the Sunday Times report revealing [...]
Insurer Hiscox names new group chief financial officer December 21, 2021 International insurer Hiscox Ltd has announced former EY partner and industry expert Paul Cooper as its new group chief financial officer. A qualified chartered accountant who trained with PwC, Cooper is currently the interim group chief financial officer of M&G Plc, a FTSE 100 asset manager and life insurer. Cooper will be rewarded with a [...]
Gallagher: Profit races past £200m at Premiership Rugby title sponsor June 4, 2024 Profit at the UK arm of insurance giant Arthur J Gallagher & Co surged to more than £200m in 2023, it has been revealed.
UK underwriting vacancies hit record highs in 2021 as insurers sought to revisit policies March 14, 2022 The number of vacancies for underwriting positions hit all-time highs in 2021, following a surge in hiring last year, as insurers sought to protect themselves against the potential for ruinous “black swan” events in the wake of the global pandemic. All in all, a record 2,100 underwriting vacancies were advertised last year, according to new [...]
Labour squeeze and national insurance hike to throttle UK SMEs’ growth plans February 14, 2022 A tight labour squeeze and soaring hiring costs are throttling small and medium-sized British firms’ recovery from the Covid-19 crisis, reveals a fresh survey published yesterday. British businesses are intending on launching a hiring spree this year to boost growth and restore revenues to pre-pandemic levels, but fear a lack of talent could throw their [...]
Labour’s business spokesperson backs easing of EU’s Solvency II insurance regulation February 10, 2022 Labour’s shadow business secretary has said he is in favour of scrapping the EU’s Solvency II directive post-Brexit in a bid to free up insurance firms to plow tens of billions of pounds into the British economy. Jonathan Reynolds said today at a UK Finance event that there was “an argument, not for deregulation, but [...]