The December 2015 storms and floods will put pressure on the 2015 earnings of UK property insurers but will have little impact on balance sheet strength and ratings, according to AM Best.
The UK was affected by three named storms in December 2015: Desmond, which landed on 5 December; Eva, which followed on 26 December; and Frank, which hit on 29 December. Estimates from accounting firm...
Lloyd’s of London underwriter Hiscox said it has shortlisted two European Union countries and was in talks with regulators to set up a new insurance base to continue servicing clients after Britain leaves the EU.
QBE will move £500m of business, around 20% of its European operation, out of the UK in the wake of Brexit.
Hiscox’s London market business has presented an inconsistent and mixed operating year for the insurer, according to Steve Langan, CEO of Hiscox Insurance.
Aviva has asked staff if a robot could better perform their job. If the answer is yes, the company will offer employees the chance to be retrained.