This year Hastings has priorititised pricing discipline amid a regulatory probe into pricing practices and rising claims inflation, leading to a drop in its competitiveness for new business.
Travelers saw an underwriting loss of $149m in Q3 this year, as its results were hit by a “challenging” tort environment, weather and “unfavourable” reserve development in business insurance.
Seventeen Group, which includes brokers James Hallam and MGA Touchstone Underwriting, saw its pre-tax profits dip by 36% to £812,716 in 2018.
Arron Banks-owned Eldon Insurance saw profit more than double in 2018, but losses at his insurer Southern Rock increased.
The London Market Target Operating Model is to be wound down and its work to be continued as part of the Future at Lloyd’s market modernisation drive.
Saga has warned of lower margins in insurance even as it saw a surge in its fixed price policy product, which was launched in the wake of backlash against industry dual pricing practices.
Lloyd’s is beginning to see the green shoots of improved underwriting thanks to stringent business planning measures, executives have said following the market’s interim results.
Lloyd’s recorded pre-tax profits of £2.3bn in the first six months of 2019, with strong investment returns offsetting a year-on-year deterioration in underwriting profitability.
RSA UK & International has merged its Commercial Risk Solutions and Global Risk Solutions businesses to create a single business unit focused on commercial lines, as it seeks to regain profitability.
Charles Taylor saw a pre-tax loss of £2.1m as the group announced the sale of its managing agency to Premia Holdings.
Gross written premium reported by the 30 largest European insurers in 2018 was 4.4% higher than the aggregated figure for the previous year but those writing significant business outside of the eurozone have seen foreign exchange rate movements having an…
Brightside will further invest to grow its managing general agent Kitsune this year, as the number of wholesale brokers with agencies reached 13.
Legal expenses insurer Das UK returned to profitability last year, recording a combined ratio below 100% for the first time since 2014.
Ardonagh group has confirmed the closure of all Swinton branches as the integration of the business is almost complete.
Ardonagh Group has posted a loss of £44.5m for the first six months of 2019, an increase of £11.7m on the £32.8m loss reported for the same period last year.
With 50 years of drink driving campaigns drunk driving is shunned by society, but with technology taking over our lives it might be time for a distracted driving campaign to make using hands-free mobile devices on the move as frowned upon.
QBE has reported a one-off hit of $62m (£51m) as a result of the change in the Ogden rate in its first half results, without which it would have broken even.
Admiral has reported a hit of £33m from Ogden in the first half of 2019, with a total estimated hit of between £50m and £60m.
Challenging the executive management team in terms of the decisions they make is a key responsibility of being a non-executive director. Michael Gaughan explains that one of the aspects of the role is to sit on various Board Committees to look at…
London seems strangely quiet in the summer, most people are away on holiday, and out of office replies are basically a given.
Aviva’s UK general insurance business delivered an operating profit of £172m for the first half of 2019, though the result excludes the £45m expense of strengthening reserves following last month’s discount rate decision.
Zurich UK GI has seen an increase of 144% in operating profits for the first half of 2019.
Ageas UK CEO Andy Watson has criticised the government’s handling of the recent discount rate review, saying decisions made by some insurers to release reserves in anticipation of a higher rate were “a reasonable thing to do.”
Ageas UK saw a £27.6m bounce as a result of the discount rate change, offsetting large motor losses for the half.