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.
Hastings share price fell over 8% within the first two hours of trading this morning after it reported a profit after tax of £38.2m (30 June 2018: £72.9m) for the first six months 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.
Specialist motor insurer ERS has reported a profit of £3.1m, a decrease on £5.6m for the same period last year.
With the motor claims landscape set to change following the Civil Liability Act, Motor Accident Solicitors Society chair Paul Nicholls airs his concerns over anticipated delays in the progress of the Litigants in Person portal and how a premature launch…
The Litigants in Person whiplash portal build may be progressing well, but fraud and a lack of clarity from the government could jeopardise its effectiveness, according to Sabre CEO Geoff Carter.
Sabre’s combined operating ratio remained in its target of within the mid-70s range, while premiums shrank 7% in the first half of 2019.
Go Compare parent, Goco Group, saw its pre-tax profits fall 52% year-on-year to £7.6m, as revenues from its core price comparison site also slumped.
The legal definition of when a car is in use and how it affects an insurance claim has long been contentious. Alistair Kinley, director of policy and government affairs at BLM, takes a look at the latest ruling and its likely impact on the insurance…
Pricing practices in the home insurance market are under scrutiny and according to Jay Borkakoti, director, home insurance, UK and Ireland, LexisNexis Risk Solutions insurers need to use claims history data to better their understanding of property risk.
Davies Group has added two firms to the group with the acquisition of GBB holdings which comprises of specialist investigation business GBB and motor engineering solutions provider Banwells.
The Motor Insurer's Bureau might have outlined how it expects the proposed litigant in person portal to work. But Marcus Taylor, director of claims at Minster Law, argues that while this might be fine for 'sunny day' scenarios, there was much detail…
Our neighbours in France may have hit their highest ever recorded temperature this week as the heatwave that struck Europe saw schools closed, but Post revealed motorists holidaying there will not be able to claim compensation if they are struck by an…
The CEO and co-founder of insurtech Wrisk has hailed its deal with Allianz Automotive as a positive sign that vehicle manufacturers are poised to overcome “the final frontier” of customer engagement - insurance.
The dual pricing noose is slowly tightening around the insurance industry’s neck. Its laudable attempts to escape from the regulatory hangman seem increasingly futile as the pressure is mounting on the Financial Conduct Authority to take action.
Change is hitting insurers at a much faster pace than ever before. Are they ready to keep up and able to re-establish some of the trust that has been lost?
The best minds in motor insurance are already grappling with how to manage the new risks that come from evolving automotive technologies – from connected and electrified vehicles to full-blown autonomous motoring.
Arnold Schwarzenegger’s decapitated head kicked off its last outing on our television screens this week as the FCA counts down to the PPI deadline on 29 August. However, as one battle comes to an end, another may be just beginning.