PricewaterhouseCoopers (PwC)
Personal and commercial profit pressures spark insurers' wholesale interest
Growth ambitions have been pegged as the main driver behind prominent UK insurers expanding their wholesale market presence with competitive personal and commercial lines conditions forcing insurers to deploy capital elsewhere.
Pre-April renewal flood victims facing hiked household premiums
Flood victims who are due to renew their household insurance policy before the April introduction of Flood Re will be faced with inflated premiums, amid widespread rate reductions elsewhere.
Storms' insured loss estimate increases to £1.4bn
Latest estimates from accounting firm PWC suggest insured losses from storms Desmond, Eva and Frank, which battered the UK in December 2015, could reach £1.4bn as Prime Minister David Cameron yesterday (3 January) pledged £40m to repair and improve flood…
London market insurers look to investment returns to support 2016 profitability
One in four London market insurers will rely on investment returns to prop up profits in 2016 amid predicted premium rate reductions of more than 10%, according to a PWC review.
Insurance industry praises flood defences as Cumbria faces second deluge in six years
Insured losses in Cumbria caused by Storm Desmond have been tipped to eclipse the £175m of claims from flooding in the area in 2009, but industry commentators have praised the mitigation impact of flood defences.
Storm Desmond insured losses could exceed 2009 Cumbria floods
Insured losses from Storm Desmond, which battered Cumbria on 5 and 6 December, could eclipse the £175m insured losses caused by flooding in the area in 2009, according to modelling firm RMS.
UPDATED: Sixteen severe flood warnings remain in place after Storm Desmond hits Cumbria
Sixteen severe flood warnings remain in place after Storm Desmond battered Cumbria on 5 and 6 December, with Carlisle, Keswick, Kendal and Cockermouth among the worst affected areas.
The Insurance Debate: Professionalism parity
Today Post and Insurance Age – in association with the Chartered Insurance Institute – is launching an interactive forum where you will be able to discuss important topical issues, using an Oxford-style debate.
Cycle of hurt to continue for motor insurers despite raised rates
The cyclical nature of the UK motor market is set to continue, despite the industry recently witnessing the biggest spike in premiums for the past five years, insurers have been warned.
Insurers predict lower M&A level than previously expected
Optimism among general insurers and brokers about their overall business situation has dipped, according to the results of the latest CBI/PWC Financial Services survey.
PWC sponsors insurance start-up accelerator
PWC’s UK insurance practice has joined up with the insurance accelerator programme at Start-up Bootcamp, a network for start-up companies.
European run-off market to be worth £181bn this year
The non-life European legacy insurance market is estimated to reach run-off reserves worth €247bn (£181bn) this year, an increase of €5bn compared to 2014, according to PWC.
PWC tips global cyber market to reach $5bn by 2018
The global cyber insurance market could grow to $5bn (£3.2bn) in annual premiums by 2018 and at least $7.5bn by the end of the decade, according to a PWC report.
Firms vulnerable to takeover by avoiding M&A wave, claims PWC
Insurance industry companies that do not participate in the current wave of merger and acquisition activity are exposing themselves to takeover, according to PWC research.
Female Millennials: How to attract young women
A recent PWC report showed female millennials had reservations about working in the insurance industry. Post investigates what the sector can do to include this group in its future workforce
Former Hiscox COO Langley becomes Gallagher non-exec chair
Arthur J Gallagher International has hired Sue Langley as non-executive chairman of the Gallagher Holdings UK board.
UK insurers vote cyber as most concerning risk
Cyber risk has topped a list of 25 concerns facing UK insurers, PWC research has revealed.
PWC announces sanction of arrangement scheme for Independent Insurance
Mark Batten and Dan Schwarzmann of PWC, joint provisional liquidators of Independent Insurance Company, have announced Independent's scheme of arrangement has been sanctioned by the High Court on 9 July 2015 and becomes effective on 13 July 2015.
Shock IPT raise - more reaction
The insurance sector is still reeling after George Osborne's Budget announcement to raise insurance premium tax by more than 50% from 6% to 9.5%.
Broker talent: painful breakups
As recent court cases have shown, leaving a company to join a competitor can be a less than straightforward affair.
Insurers and brokers report rise in business volumes over past three months
Business confidence for brokers, life and general insurers continues to rise, according to a joint survey by CBI and PWC published today.
Female millennials survey findings dismissed by optimistic industry insiders
Schemes designed to attract more women into the insurance industry are starting to show signs of success, despite a piece of research that suggests female millennials are being put off a career in the sector.
Female millennials shun insurance over career progression fears
The insurance industry is failing to keep hold of talented female workers, or even attract them in the first place, due to a perceived lack of equal opportunities.
Independent's creditors vote on scheme
Scheme creditors of the collapsed Independent Insurance Company have voted on a proposal that would provide an alternative to liquidation.