National insurance hike to spike UK firms just as they recover from Plan B and Omicron February 1, 2022 The national insurance hike is set to spike UK businesses just as they have recovered from the Omicron and Plan B-induced economic hit, reveals a fresh survey released today. Firms are deeply concerned that a combination of the national insurance (NI) hike and swelling energy bills will limit their capacity to survive, according to research [...]
Direct Line to prioritise profits in bid to shake off Ageas interest March 10, 2024 The new boss at Direct Line is is bringing forward his plans for turning around the business in an attempt to rebuff a £3.1bn takeover bid from Belgian insurers Ageas.
UK life insurers to have ‘tens of billions’ freed up by scrapping EU’s Solvency II regulation February 25, 2022 UK life insurers will be freed up to invest “tens of billions” of pounds more after the decision to scrap the EU’s Solvency II regulation post-Brexit, City minister John Glen has said. Glen, writing in City A.M., today said changes to the much-maligned EU regulation will unleash investment into “growth-supporting infrastructure like wind farms and [...]
FCA requested to review buildings insurers as Gove says leaseholders hit with ‘rapidly escalating’ costs January 28, 2022 The financial services regulator has been requested to review the buildings insurance market for blocks of flats. In a letter to the regulator, housing minister Micheal Gove said he was “extremely concerned” to hear from leaseholders about their experience of “rapidly escalating” insurance premiums on high and medium-rise blocks. There have been cases where insurance [...]
Hiscox: UK business in ‘growth mode’ as hard market continues May 2, 2024 Lloyd’s of London insurer Hiscox has grown its written premium by 8.3 per cent as the FTSE 250 carrier shrugged off a contraction in its London market.
Treasury Committee chair joins chorus of MPs urging government to ditch national insurance hike January 27, 2022 The chair of an influential group of cross-party MPs that scrutinise the government’s spending plans has joined the chorus of policy makers calling for the national insurance hike to be scrapped. Tory MP Mel Stride, who chairs the Treasury Committee, urged the government to cancel the looming 1.25 percentage point national insurance rise to ease [...]
Royal London profits surge double digits as pensions grow August 2, 2024 Royal London's operating profit before tax increased by 13 per cent for H1 2024, as the insurer credits its focus on long-term strategy to have increased its profits.
Sunak has enough room to scrap national insurance hike, according to top City economists January 25, 2022 Chancellor Rishi Sunak has enough room to scrap the looming national insurance hike to ease the heavy cost of living burden weighing Brits down, according to leading City economists. Bumper tax revenues driven by the UK economy performing much better than forecast has provided the Chancellor with a big enough tax windfall to cancel the [...]
HSBC gets green light to buy out China life insurance joint venture December 30, 2021 HSBC have announced this morning that it has received regulatory approval in China to take full ownership of its life insurance joint venture in the country, as it continues to expand its non-core banking services. HSBC has got clearance from the Shanghai office of the China Banking and Insurance Regulatory Commission to buy the remaining [...]
Conference firm Hyve has £11.5m pre-tax loss as exit from Russia and insurance proceeds dent recovery May 24, 2022 Conference-organising firm Hyve had a pre-tax loss off £11.5m due to the impact of the ongoing war in Russia and declining insurance proceeds. The exhibition company brought in £58.6m in six months to the end of March this year, more than ten times the previous 12 month’s intake. It did however complete its exit from [...]