Discount rate
Blog: Brokers needn't fear FCA commission reforms
If the Financial Conduct Authority restricted gross rate commissions on finance arrangements, brokers could feel a painful blow. However, they could claw back income elsewhere, argues Ravi Takhar, CEO of Bexhill UK, urging them to bring the premium…
Esure scales back home insurance growth due to 'challenging conditions'
Esure has decreased its home book by 4.5% as a result of "challenging" market conditions.
RSA reports £40m Ogden charge
RSA has reported a £40m net charge due to the change in the recent Ogden rate and a growth in its premium income in Q1 2017.
Editor's comment: Surprise!
I probably wouldn’t make a very good insurer or broker as I love a good surprise and I deal quite well with change.
Direct Line reports growth of its its motor book in Q1 despite Ogden cut
Direct Line has grown its motor book by 11.2% in the first quarter, compared to the same period last year, despite taking a £230m blow from the discount rate reduction.
Price comparison websites lack clarity over pricing, report shows
Price comparison sites are not giving enough clarity over pricing, with premium prices differing between each site for the same insurer.
Hastings sees new business influx following Ogden change
Customers buying car insurance through price comparison sites has led to an influx of new business for Hastings as motor premium rates continue to rise in light of the change to the discount rate.
Covéa's James Reader on insurance's ‘two lengths of the pool’
Spending some time with sport psychologist Simon Hartley reminded James Reader, CEO of Covéa Insurance, it can be all too easy to lose focus on what we’re really here to do
Motor premiums set to rise by 29% by 2018
Motor premiums will rise by up to 29% by January 2018 due to hikes to Insurance Premium Tax, increasing repair costs and the EU's Vnuk ruling.
ABI holds cross-sector roundtable on discount rate
The Association of British Insurers held a cross-sector roundtable yesterday to discuss the reduction to the Ogden discount rate.
This week in Post: Snap decisions, Can-can and costs
In a snap decision just after Christmas I agreed it would be fun to attend a Moulin Rouge secret cinema perfomance, with little thought to the effort this would involve or the costume I'm currently having to source.
AIG to take $100m hit from Ogden change
AIG expects to record a $100m (£77.9m) hit to its Q1 2017 pre-tax profits as a result of the cut to the Ogden discount rate.
Blog: Whiplash, discount rate, Vnuk and driverless cars on the road ahead
The Association of British Insurers’ announcement that motor insurance premiums hit their highest recorded levels at the end of last year is another reminder that change is long overdue in the personal motor market. That’s coming but will it be enough?
Week in Post: Doing a Chris and Gwyneth – but who gets to keep the tofu Easter egg?
Easter is all about new beginnings. This will be true for us more than most, as we at Incisive Media celebrate our new ownership.
LV to cover reinsurance rate rises with higher premiums
LV will cover any reinsurance price rises as a result of the Ogden rate cut solely through premium increases.
Motor premiums continue to rise into Q1 2017
Motorists are now paying on average £110 more for comprehensive car insurance than they did this time last year.
Blog: Injured claimants are not lobby fodder
I spent 15 years working for a number of insurance companies before ‘crossing the floor’ to be the managing director of Minster Law, a claimant firm. Whether moving from insurance to the law is a step up the public approval rankings or a step down is a…
This Month in Post: Rates, start-ups and fraud
Spring is in the air and it's a time well-known for cleaning out the old and starting anew. As I continue to unpack boxes and work out where to put all of the fairly useless things I have collected over the decades, the industry has been taking its own…
Motor premiums have gone up by 9.4% and are set to keep rising
Car insurance has rocketed by 9.4% to an average of £661 and this is set to increase due to the decision to lower the discount rate.
Ogden change dents Co-op's full year results
Co-op Insurance made an operating loss of £18m in 2016, despite seeing gross written premiums rise by 15%.
Editor's comment: Feeling lucky?
My Irish grandmother always said bad things come in threes. In the last 18 months the insurance industry has faced bad returns on investments, several increases to insurance premium tax and now the huge change to the Ogden discount rate, so the sector…
In Depth: Ogden outrage – dismantling the discount rate
The decision to cut the Ogden discount rate for the first time in 16 years sent shock waves through the industry that will be felt for months and years to come.
Insurers face ‘eye-watering’ bill from discount rate changes in Scotland
Insurers face an “eye watering” bill from the decision by the Scottish government to adopt the UK’s revised discount rate.
This Week in Post: BST, the baby and Brexit
British Summer Time is now allowing us to enjoy more daylight as all our clocks moved forward an hour last weekend. Except, that is, for my 15-month-old daughter’s biological clock. For her bedtime this week, she’s decided to do her own thing. Pretty…