Legal & General (L&G)
FCA boss Wheatley to step down in September
Martin Wheatley will step down as CEO of the Financial Conduct Authority from 12 September, with executive board member Tracey McDermott leading the regulator for an interim period while a search for a long-term successor is carried out.
L&G swaps Be Valued with RDG in its household supply chain
Legal and General has signed a three year contents claims handling partnership with Ryan Direct Group after the insurer’s previous relationship with Be Valued ended with the claims management specialist placing its service into run-off.
Ex-Esure and L&G boss Peter Graham returns with Barbon role
Former Esure and Legal & General insurance boss Peter Graham is poised to return to the UK market as non-executive chairman of Barbon Group, Post can reveal.
L&G puts Hove staff on notice
Legal and General has put a number of staff at its Brighton and Hove office on notice of possible redundancy.
L&G direct sales growth a result of 'enhanced digital capabilities'
Legal & General recorded a 16% year-on-year increase in gross written premium within its direct business in the first quarter of 2015 despite a 4% drop in total GWP over the same period.
L&G GI chief questions long-term pricing approach of rivals
Legal & General's approach to long-term home insurance pricing means it is in a more favourable position than certain market peers, according to the firm's general insurance boss Mark Holweger.
L&G 2014 GI profits hit by £12m cost of last winter's storms
Adverse weather at the start of 2014 has been cited as a major factor behind a £10m reduction in operating profit within Legal & General’s general insurance business.
Flood Re to drive household rates rise in 2015, claims L&G boss
The expense of complying with Flood Re will help drive single digit rate movement in the household market this year, according to Legal and General director of general insurance Mark Holweger.
MPs plotting to summon outgoing FCA execs
Two departing executives from the Financial Conduct Authority are set to be summoned to appear in front of the Treasury Select Committee over the mis-handling of changes to life insurance regulation.
FCA apologises after life insurance probe
The Financial Conduct Authority has formally apologised following the publication of a damning investigation into its handling of a proposed thematic review into life insurance.
L&G joins Tesco Bank underwriting panel
Legal and General has joined the home insurance underwriting panel for Tesco Bank.
L&G GI quarterly premiums inch beyond £100m for the first time
L&G has reported quarterly general insurance premiums of more than £100m for the first time.
Trade bodies: Are you being heard?
Legal & General severed ties with the Association of British Insurers for being out of step with the firm, but do trade bodies really listen to and provide value for money for their members?
Attention turns to devolution impact after Scotland rejects independence
Referendum outcome pleases insurers as devolution discussions begin
Reserve releases aid insurers in posting first profit since 2006
The UK property and casualty sector is set to post a profit for the first time since 2006, with the average combined operating ratio expected to be around 96.5% for 2013, according to Moody’s.
L&G engaging with Unite amid threat of industrial action over job cuts
Legal & General has vowed to work closely with Unite following suggestions by union chiefs that they may pursue industrial action following the insurance company’s decision to close its Ipswich office.
L&G relocating to Birmingham and Hove after Ipswich closure
Legal & General has confirmed it will close its Ipswich office following the decision to create a single claims operation based in Birmingham and move all Ipswich customer service operations to Hove.
ABI gets industry backing after L&G’s decision to withdraw membership
Trade body tight-lipped on whether L&G exit will impact membership fees.
Editor's comment: We’re better off with one voice
There is something to be said for going it alone, for forging a new path, breaking new ground and taking a stand.
ABI 'disappointed' with L&G's decision to resign its membership
The Association of British Insurers has moved to underline the benefits of ABI membership after expressing disappointment at Legal & General’s decision to resign from the trade body.
ABI to give statement on reports Legal & General to exit
The Association of British Insurers is expected to give a statement today on reports L&G is to leave the association.
L&G GI profits slump in H1 as attention turns to bolt-on acquisitions
Legal & General has attributed weather claims totalling £12m in the first quarter of 2014 for a slump in the general insurance division’s operating profit to £28m in the first half of the year (H1 2013: £39m).
FCA boss Wheatley defers bonus over life investigation blunder
Financial Conduct Authority chief executive Martin Wheatley and eight senior colleagues have decided to defer their annual bonus following the regulator’s blunder in announcing a life insurance investigation that sent share prices tumbling.
Insurance companies failing to respond to online questions
An online customer service study of ten major UK insurance players has revealed that just 30% of emails and tweets are responded to successfully.