Green Flag hits record profit after price hikes for breakdown customers June 21, 2024 Breakdown recovery firm Green Flag saw its revenue leap last year as additional fees for customers helped to boost its bottom line, according to newly-published results.
Bank of England’s PRA sets out new post Brexit Solvency UK details in bid to unlock investment June 29, 2023 Britain’s main financial watchdog has set out a raft of changes to the EU’s Solvency II regime to improve the competitiveness of the UK insurance market and unlock investment in the economy. In an announcement this morning, the Prudential Regulation Authority (PRA) provided more detail on how it will make adapt the EU’s Solvency II [...]
NHS crisis driving surge in UK private health admissions to more than 900,000 March 25, 2024 The private health services is expected to see over 900,000 private admissions in 2024, as the surge in demand for the private healthcare continues as the crisis in the NHS battles on. According to an independent consultancy Broadstone, admissions using private medical insurance increased to 458,000 for the first three quarters of the year, an [...]
How Data Changed the Game for Aon’s Brokers August 10, 2023 Despite playing a very important role at the heart of London’s reinsurance market, James Milne, AON’s UK and Ireland head, tells City A.M. that he doesn’t often hear about insurance around the dinner party table. But when he does, it’s usually the cost of car insurance, which has gone up significantly over recent months as [...]
Banks drive finance complaints up by a fifth as ‘unaffordable’ credit cards slammed May 1, 2024 Issues with banking and credit cards drove official finance complaints up nearly a fifth in the second half of last year, new figures show, as customers were hit by fraud and "unaffordable and irresponsible lending".
Saga picks former Co-op exec as new chief in bid to turn fortunes around November 28, 2023 Over-50s specialist insurer Saga has announced that chief financial officer Mike Hazell will replace Euan Sutherland as chief executive effective immediately. Hazell was CFO at The Co-op Group before joining Saga in October and had previously been with Debenhams for almost 12 years. Mark Watkins will replace Hazell as CFO So-called claims inflation of around [...]
Aviva adds £100m Canadian operation to three-country strategy November 27, 2023 Aviva has announced the acquisition of Canadian vehicle replacement insurer Optiom in a deal worth around £100m as it looks to grow its foothold in the country. The London-listed insurance giant said the deal would expand its capital-light businesses, which make up half of its portfolio. It added that the acquisition would “increase its access [...]
FTSE insurer Aviva confirms sale of French unit for €3.2bn to Aema Groupe February 23, 2021 Aviva confirms sale of French unit for €3.2bn to Aema Groupe
Tories weighing stamp duty change in Autumn statement April 20, 2024 The Chancellor is reported to be considering cutting stamp duty in a final autumn statement before the next general election.
Insurer Phoenix reports £1.7bn cash generation December 3, 2020 Insurer Phoenix Group has reported a full-year cash generation of £1.7bn, exceeding the top end of its target range and more than doubling from last year. The life insurer’s reported cash generation compares with £707m it reported in 2019 and a target range of £1.5-£1.6bn. Group CEO Andy Briggs said: “As we execute successfully against [...]