It's been a swings and roundabouts kind of week.
Hastings’ share price took a tumble as it revealed operating profit fell 42% in a year that the insurer was hit by the Ogden rate and claims inflation.
Hastings is hoping that investment in its anti-fraud capabilities and supplier partnerships secured in the tail-end of last year will mitigate the impact of claims inflation on its bottom line.
Admiral is expecting to see profit before tax of £510m to £540m for 2019, with its staff to each receive a £500 bonus.
Rising claims costs in quarter four are expected to put a slight dent in Hastings’ 2019 dividend payout.
Hastings’ former group chief financial officer, Richard Hoskins, will join BGL as an independent non-executive director in January.
The Association of British Insurers will not be proceeding with a legal challenge to the “misguided and incorrect” decision to set the Ogden personal injury discount rate at -0.25%, the organisation has confirmed.
On the back of research into the shape of the future delivery of personal lines, Post held a roundtable, in association with EXL, with experts to investigate how ready organisations are to meet customer expectations as demand for cover evolves in the…
First Central Group is seeking external investment which will see its founders reduce their stake in the Guernsey headquartered insurance group, Post can reveal.
A long-awaited judgment in the legal wrangle between Ardonagh and Gallagher came today, clearing Ardonagh of wrongdoing.
This year Hastings has priorititised pricing discipline amid a regulatory probe into pricing practices and rising claims inflation, leading to a drop in its competitiveness for new business.
Disruption caused by any regulatory interventions on insurers’ pricing practices is more likely to affect insurers such as Direct Line Group, RSA and Saga than price comparison site-based underwriters such as Admiral and Hastings, Peel Hunt has predicted.
Zurich was the big winner at the 2019 Post Insurance Fraud Awards picking up three awards, and a highly commended including top prize in the Investigation of the Year category.
London seems strangely quiet in the summer, most people are away on holiday, and out of office replies are basically a given.
Hastings share price fell over 8% within the first two hours of trading this morning after it reported a profit after tax of £38.2m (30 June 2018: £72.9m) for the first six months of 2019.
Exclusive: Clare Lunn, director of fraud at LV, has been selected as a chair of the the General Insurance Fraud Committee.
Hastings shares fell this morning after saying the Ogden rate change to minus 0.25% would result in a one-off £8.4m blow.
Three men have been jailed after an investigation led by the City of London Police Insurance Fraud Enforcement Department found they had carried out a ‘crash for cash’ plan on a motorway slip road in Coventry.
MS Amlin has named former Old Mutual executive Iain Pearce as its chief financial officer.
Hastings has reported a 4% rise in gross written premiums for the first three months of 2019.
Jonathan Swift reflects on the turnaround at ERS and why Aquiline might have decided to wait to sell the motor insuer
With the outcome of Brexit still unclear and a possible European Union exit on 29 March looming, some insurer bosses have cautioned that we could see rising claims inflation this year.
A lot has changed at the AA in the five years since Janet Connor, now director of insurance, joined the organisation. She explains to Jonathan Swift how an investment in data and technology – alongside the relaunch of its insurance company and board…
Hastings saw profit after tax of £130.6m in 2018, an increase of 3% from £126.7m in 2017.