Lloyds Banking Group
Lloyds cuts 1250 jobs as it changes insurance sales strategy
Lloyds Banking Group has announced 1250 job losses alongside a change in the way it sells insurance products in its branches.
Lloyds Banking Group brings home insurance underwriting in-house
Lloyds Banking Group has become sole underwriter of all its home insurance policies after exiting its existing panel.
Attention turns to devolution impact after Scotland rejects independence
Referendum outcome pleases insurers as devolution discussions begin
Lloyds Bank hires BAML's Braithwaite to lead institutional insurance
Lloyds Bank Commercial Banking has appointed Gareth Braithwaite from Bank of America Merrill Lynch to head up the institutional insurance team within its financial institutions division.
Weather claims eat into Lloyds GI COR as income slips by £54m
Lloyds Banking Group’s general insurance business has attributed increased weather claims in the opening two months of the year to a decline in the unit’s combined operating ratio to 80% in the first half of 2014 (H1 2013: 69%).
Motor customers paying up to 90% APR for monthly instalments
Motor insurance customers are being charged annual interest rates of up to 90% for choosing to pay in monthly instalments rather than an annual sum, according to research.
Interview: Craig Thornton: Enjoying the challenge
A year into his tenure as general insurance director for Lloyds Banking Group, Craig Thornton is relishing the opportunities that lie ahead in his first general insurance-specific role
Prettejohn named Scottish Widows chair
Lloyds Bank has confirmed speculation that Nick Prettejohn will join as a non-executive, naming him as chairman of Scottish Widows.
Lloyds Banking Group accused of cutting PPI compensation
Lloyds Banking Group has been accused of cutting the level of compensation awarded to around 25% of payment protection insurance claimants.
Prettejohn linked with Lloyds Bank non-exec seat
Nick Prettejohn is to be named a non-executive at Lloyds Banking Group according to a report from the Financial Times.
GAB loses out on Lloyds Bank claims contract
Lloyds Bank has decided against renewing a claims contract with GAB Robins, moving all overflow business over to Crawford, Post can reveal.
Gallagher pens five year SME partnership with Lloyds Bank
Arthur J Gallagher has secured a five year exclusive partnership with Lloyds Bank to provide insurance solutions to its portfolio of small business customers.
DAS UK appoints Percy as chief actuary
Legal expenses insurer, DAS UK, has appointed Richard Percy as chief actuary, with effect from 10 February 2014.
Insurers to supply experts to PM’s flood grant scheme
Insurers have agreed to supply a team of technical experts to work with the government on a scheme to provide grants to flooded home and business owners at today’s Downing Steet flooding summit.
Insurers head for cabinet office flooding summit
Chief executives from Aviva, Direct Line Group, Axa, Lloyds Banking Group, Ageas and the Association of British Insurers are set to meet ministers today to brief the government on flood recovery.
'Value over volume' focus takes its toll on GWP at Lloyds Bank
Lloyds Banking Group’s general insurance business saw its combined operating ratio increase by five percentage points to 77% last year, while gross written premiums reduced by 8% to £1.3bn (2012: £1.4bn).
CII to engage LV, Admiral and Esure in retail standards scheme
The Chartered Insurance Institute will kick-start its retail standards initiative by asking senior executives at firms including LV, Admiral and Esure whether such a scheme is likely to generate industry-wide support.
Aviva’s risk boss appointed ORIC chair
The Operational Risk Consortium has appointed Aviva group operational risk director Michael Sicsic as its board chair.
Admiral swoops for former Phoenix Group CRO
Admiral has recruited the former chief risk officer of pension fund consolidator Phoenix Group to serve as a non-executive director and risk committee chair.
Lloyds Banking Group firms hit with £28m FCA fine
The Financial Conduct Authority has fined Lloyds TSB Bank and Bank of Scotland, both part of Lloyds Banking Group more than £28m for serious sales incentive failings including protection products.
Andy Haste tipped for TSB chair role
Former RSA boss Andy Haste is the front-runner to take up the chairman role at high street bank TSB, according to reports.
ABI unveils rehab insurer panel
The Association of British Insurers has revealed the make up of a new rehabilitation panel to provide a unified voice for insurers.
Lloyds Bank completes €300m German life insurer sale
Lloyds Banking Group has completed the sale of life insurer Heidelberger Leben to a combination of Hannover Re and Cinven, a private equity group.
Penny speed meets... Martyn Foulds, senior insurance claims manager, Lloyds Banking Group
Being an insatiable socialite, Penny Black is always eager to probe the personalities behind the professional veneer of her industry friends. What better way to squeeze in and share as many intimate revelations as possible than her very own ‘speed…