UK should ‘shout about the insurance industry a bit more’: Howden boss February 6, 2024 David Howden told City A.M. that insurance was a 'City success story' as his firm posted another set of strong financial results
Bupa profits shoot up 45 per cent due to growth in health insurance August 1, 2024 Bupa's total underlying profit for the first six months of H1 shot up by 45 per cent which was driven by the strong increase in revenues and returns across all its market unit.
Home insurance prices forecast to rise by a third as firms hike premiums October 29, 2023 Home insurance prices are forecast to jump by more than a third in the next two years as the industry hikes premiums to keep up with the cost of claims, according to new research. Insurers posted their worst net combined ratio – measuring claims and costs as a proportion of premiums – in three decades [...]
Insurance industry bosses push back at perceptions of ‘profiteering’ June 7, 2023 Insurance industry representatives have pushed back at perceptions that firms are “profiteering” during the cost of living crisis. Bosses appeared before MPs sitting on the Treasury Committee to answer questions about rising premiums. Labour MP Dame Angela Eagle put it to the insurance industry representatives: “There’s a perception out there that insurers are profiteering with [...]
Working group launches code of conduct for insurance market when using AI January 31, 2024 A collaboration between 127 experts, including the former UK COO of Aviva, has resulted in the creation of a code of conduct for the insurance industry for using AI. This initiative aims to establish and uphold “the highest standards of behaviour and ethical responsibility” when planning, designing, or utilising AI in the management and settlement [...]
Hiscox shares soar as Lloyd’s of London insurer attracts foreign takeover interest July 8, 2024 Shares in Hiscox surged as much as 14 per cent on Monday following news that two foreign rivals are considering takeover bids for the Lloyd’s of London insurer.
Car insurance costs soar at record rates with London worst affected October 25, 2023 The average cost of car insurance skyrocketed 61 per cent in the year to August, as inflation jacks up the price of repairs.
Amazon is shutting down its UK insurance store after just a year January 24, 2024 Amazon started rolling out to select customers in October 2022 and available to all UK customers at the end of 2022.
UK has insured £102bn worth of Russian oil despite sanctions January 24, 2024 A former Cabinet minister has called on the insurance industry to think on its obligations after it was revealed that UK firms have insured over €120bn worth of Russian oil.
Demand for political risk insurance growing amid ‘febrile’ geopolitical landscape October 23, 2023 The “febrile” state of geopolitics has led to an increased interest in political risk insurance, experts have said. International businesses, including mining, oil and gas, and renewables, which invest in projects abroad can purchase political risk insurance in a bid to secure schemes against changing foreign governments who may be more hostile to overseas investment. [...]