Insurer
Expected discount rate cut shaves £10m profit from ERS
The expected discount rate reduction has shaved off £10m of profit from motor insurer ERS.
Solvency II risk margin is ‘fundamentally flawed’: PRA
Solvency II is broadly fine but there are some bugs that need to be ironed out, the CEO of the Prudential Regulation Authority has said.
Axa CEO: Discount rate cut could wipe out benefit from whiplash reform
The reduction of the discount rate may wipe out any reduction in premiums that consumers might see from whiplash reforms, the CEO of Axa has warned.
Axa sees profits rise by 12% in 2016
Axa has seen underlying profit rise by 12% to £263m in the UK and Ireland business.
Government to raise small claims track limit for whiplash to £5000
The Ministry of Justice has confirmed there are to be fixed tariffs capping whiplash compensation payouts.
RSA's profit climbs 25% in 2016 as annual cost savings hit £290m
RSA's UK operating profits increased 76% in 2016 to £259m - the best result in a decade.
Aviation Claims: Winging it
Despite a number of air accidents over the past few years, safety when flying has improved dramatically. However, overcapacity and a lack of profitability could be affecting the market
'Heat is on' to be Europe-friendly ILS hub
Global insurance centres are under competitive pressure to be a Europe-friendly base for insurance linked securities, said PWC's Marta Abramska
Cyber controls are 'not fit for purpose'
Organisations' cyber controls are not fit for purpose, including those recommended by government, according to research from the University of Oxford and Novae.
Former RSA Ireland CFO fined and banned for misconduct
The former chief financial officer and two former actuaries of RSA Insurance Ireland have admitted misconduct and agreed to fines following a Financial Reporting Council investigation.
Lloyds Banking Group's GI division takes hit from softening home market
Lloyds Banking Group’s general insurance division saw gross written premiums fall by 3% in 2016, to £1.1bn from £1.14bn in the previous year.
Suncorp buys 11% of New Zealand's Tower following Fairfax bid
Australian giant Suncorp has bought 11% of listed New Zealand general insurer Tower and is offering NZ$219m (£126m) for a full acquisition of the firm.
Interview: Jim Bichard, PWC
When the referendum result came in on 24 June last year, there was a moment of disbelief in the market. Many business leaders were forced to re-examine what exposures they faced and what steps they needed to take next.
Social media libel: Keyboard warriors
Social media grants people the ability to broadcast their opinions to a wide audience. What coverage can insurers provide against libel?
IAG's first half pre-tax profit dips 6.4%
Australian giant IAG saw pre-tax profit fall to A$571m (£351m) in the first half of the 2017 financial year compared with A$610m in H1 2016.
Tax and exchange rates set to push up home insurance costs
Tax and exchange rates will push up home insurance costs with the average premium rising by 1.8% to £124.
Tesco Bank to exit life, GI unaffected
Tesco Bank is to withdraw from the life insurance market, but its general insurance offering will not be affected.
Quarter of insurance CEOs expect to make redundancies over the next 12 months, says PWC
A quarter of insurance CEOs expect their companies to make redundancies in the next 12 months, according to an extensive survey.
Hood Group opens Innovation Lab to attract start-ups
Hood Group has launched an Innovation Lab and created a number of new roles.
Airmic's John Hurrell on why insurers should assess risk culture
It is a well-established practice for underwriters to take into account risk management performance when assessing the risk profile of a business.
Insurance Council of Australia to review Code of Practice
With two Senate general insurance inquiries underway and criticism around the selling of add-ons, the Insurance Council of Australia has launched a review of the General Insurance Code of Practice.
Traity launches chatbot to help people insure P2P transactions
Insurance start-up Traity has launched a new blockchain-based chatbot that could help people insure their online peer-to-peer transactions.
Allianz open to making acquisitions following strong results
Allianz has said that it is open to mergers and acquisitions within the UK market following a return to profit in its full year results.