Legal & General (L&G)
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.
Legal & General shuts Belfast office
Legal & General has confirmed the closure of its Belfast office with the claims and customer service work carried out at the branch moved to Birmingham and Ipswich.
L&G points to direct sales growth in Q1 despite 2% fall in GWP
Legal & General has attributed disciplined pricing for a 2% drop in gross written premium of £84m in the first quarter of 2014 compared to £86m in the same period last year.
GI players demand action after FCA life insurance investigation blunder
Aviva and L&G shares fall after investigation details are aired prematurely.
Editor's Comment: FCA finds itself in the crosshairs
It hasn’t taken long for the hunter to become the hunted and, with insurers smelling blood, the Financial Conduct Authority finds itself in the awkward position of being forced to account for its own actions.