PricewaterhouseCoopers (PwC)
Regional Review: Gibraltar
Gibraltar’s insurance industry has had a rocky 18 months. The high-profile failure of unrated passporting insurer Lemma, followed in quick succession by domestic players Hill and Devert, brought unwanted scrutiny to the domicile, which has worked hard…
Met Office warns of 'danger to life' across Southern England
The Met Office has issued 16 severe flood warnings in South west and South east England this morning, warning that water levels represent a danger to life in the regions.
UK floods tipped to cost industry close to £500m
PWC has estimated weather-related damage in December 2013 and January this year could cost the insurance industry up to £500m.
Insurance CEOs optimistic about revenue growth
The majority of global insurance chiefs believe they will grow their businesses over the next three years, research from PwC has found.
Minister defends Gibraltar against ‘unfair advantage’ perceptions
Gibraltarian minister talks up non-motor insurance expansion.
Gender Directive: One year on
Just over 12 months after its implementation, has the Gender Directive impacted the industry as strongly as expected? And what has it meant for the progress of telematics?
RSA shares inch down after PWC blames execs for Ireland woes
Shares in RSA have dropped marginally 2.73% in the first full day of trading after a PWC report concluded that a small group of executives were to blame for claims and reserving errors in its Irish unit.
RSA taking advice on action against Deloitte over Ireland accounts
RSA is taking advice on whether it can pursue action against Deloitte for approving accounts in Ireland that were later found to include inaccurate and misleading information created by “inappropriate collaboration” between senior executives.
RSA receives 'a clean bill of health' following PWC investigation
A PWC investigation into failing in RSA’s Ireland business has handed the insurer “a clean bill of health” according to Shore Capital analyst Eamonn Flanagan.
Christmas storms tipped to cost industry £400m
The UK insurance industry is facing a bill of around £400m for storms and flooding throughout December and January, PwC insurance partner Mohammad Khan said today.
RSA confident PWC report will find no issues outside of Ireland
RSA has underlined its confidence that a PWC investigation into serious financial irregularities uncovered at its Irish operation will confirm the issues in Ireland as an isolated incident.
Cost of home insurance expected to fall despite flood claim increases
Growth in price competition could see rate reductions of up to 10%.
Reinsurance renewals remain ‘tough’ despite reduced concerns over PPOs
Insurers benefiting from non-motor rate reductions across the board.
RSA to release Irish review findings next week
RSA will release the key findings of PwC’s review into the financial and regulatory reporting processes and controls within the Irish Business next Thursday.
External candidate expected to replace Lee at RSA as sale speculation mounts
Analysts say firm could seek to raise capital by selling international operations
PWC predicts steady 2014 London market outlook
PWC is predicting improved planned profitably in 2014 for some London market classes such as accident and health.
Bid to cut red tape set to enhance UK insurance market’s competitive position
Insurance Growth Action Plan aims to remove barriers for UK insurers overseas.
Industry plays down impact of St Jude and Xaver storms on full-year results
Losses expected to be ‘in tens of millions, not high hundreds of millions’.
Recent floods could cost the industry £100m
Claims arising from the coastal floods that hit parts of the UK last Friday could potentially reach £100m, according to PWC estimates.
International: Europe: Weathering the storm
In the wake of devastation caused by typhoon Haiyan in the Phillippines, what is the future for insurance in disaster-prone regions?
Government's growth plan tipped to boost takaful market
The government's insurance growth action plan could provide a much needed boost to the UK's commercial Islamic insurance market, according to PwC's Mohammad Khan.
Big data tipped to drive competitive differentiation
Over 90% of senior insurance executives believe big data will drive competitive differentiation in future.
Aviva’s attempt at asbestos exit fueled by increased long-term claims certainty
Firm’s plan to offload rumoured £1bn book linked to overall restructuring,
Europe: Driving up M&A activity
Following the spectacular rise in value of merger and acquisitions in the European insurance sector during the first half of the year, Edward Murray looks the drivers behind the increase in activity.