Insurers commit to pass on Ogden rate reform benefits
26 March 2018
UK insurers have welcomed proposed changes to the system for calculating serious personal injury compensation payouts, and have committed to pass on cost benefits to customers…
International
Chinese industry growth to slow: S&P
26 March 2018
The Chinese Government’s crackdown on the insurance sector is expected to cut growth in half over two years, according to S&P Global…
Lloyd’s issues mandate for electronic placement
26 March 2018
Lloyd’s syndicates will be required to have no less than 10% of their risks placed electronically from the end of the second quarter, and 30% by year’s end…
London faces major hit from ‘no-deal’ Brexit
19 March 2018
Financial services businesses face the largest cost impact by sector from Brexit, according to a report from Marsh & McLennan consultancy Oliver Wyman and law firm Clifford Chance…
Execs optimistic despite challenges
19 March 2018
The outlook among insurance chiefs is increasingly positive, according to PwC’s latest CEO Survey…
M&A activity drops amid Europe, China uncertainty
19 March 2018
The number of mergers and acquisitions in the global insurance sector dipped slightly last year, according to law firm Clyde & Co’s annual insurance growth report…
Munich Re raises profit guidance
19 March 2018
Munich Re has raised its profit target compared with last year, and expects to generate €2.1-€2.5 billion this year…
FCA seeks input on bid to improve culture
19 March 2018
The UK’s Financial Conduct Authority has called for a broad discussion on how a healthy culture can be driven by companies, regulators, employees and customers, as the sector continues to battle misconduct…
Cat losses hit Hannover Re profit
19 March 2018
Hannover Re’s property and casualty business recorded an 11.8% decline in net income to €837.3 million last year as losses from Cyclone Debbie and other major catastrophes exceeded its provisions…
JLT reveals 44% gender pay gap
19 March 2018
JLT’s female employees are paid on average 44.1% less than their male counterparts, according to the broker’s gender pay gap report…
Fraud and ‘regressive’ tax drive up UK motor premiums
19 March 2018
UK car and van insurance premiums increased 10.7% and 9.1% respectively in the final quarter of last year, according to the British Insurance Brokers’ Association…
Axa leaps into P&C space with XL acquisition
12 March 2018
Axa says its $US15.3 billion purchase of Bermuda-based XL Group represents a “major leap forward” for the French insurer’s global ambitions…
Major losses as big freeze hits Europe
12 March 2018
Arctic conditions and storms across Europe caused significant insured losses, according to the latest monthly catastrophe report from Impact Forecasting…
Companies ‘unprepared for automation’
12 March 2018
Automation in the workplace, including the use of artificial intelligence and robotics, is expected to surge in the next three years, according to a survey by Willis Towers Watson…
Consortium tackles fintech cyber threat
12 March 2018
The World Economic Forum has established an international consortium to strengthen cyber security for fintech companies and data aggregators…
ABI demands Brexit deal for financial services
12 March 2018
The Association of British Insurers has welcomed a speech by Chancellor Philip Hammond proposing a close alliance with the EU on financial services post-Brexit…
Crawford profit slides amid international gains
12 March 2018
Claims management group Crawford & Co reported weaker full-year net profit as impairment charges offset a stronger operating result from its international division…
Axa in talks to buy XL: report
05 March 2018
French insurance giant Axa is in talks to buy US property and casualty insurer XL Group, according to reports today in US and European business media…
Commercial rates end 54-month decline
05 March 2018
Global commercial insurance prices have increased for the first time in more than four years, lifted by gains in the catastrophe-hit property sector, according to Marsh…
‘Good intentions’ fail to address UK gender imbalance
05 March 2018
Women hold just one in five senior UK insurance jobs, even though most companies have diversity strategies, according to the Association of British Insurers…