Mutuals
Analysis: Mutual benefits
With four mutuals making the UK top 20 insurers rankings for 2017 and results outperforming the rest of the market, mutuality is a sector to watch, especially as it is easier to innovate without constant shareholder pressure
Analysis: The impact of FSCS funding proposals on brokers
In 2016 the Financial Conduct Authority released a raft of proposals that examined potential changes to the way the Financial Services Compensation Scheme was funded.
Mutuals: Mutual attraction
Mutuals in the general insurance market are causing their publicly owned rivals to sit up and take notice
Mutual and cooperative sector sees above average growth
Three-quarters of the world’s biggest cooperative and mutual insurers saw positive premium growth in 2014, and 18% saw double digit growth in the same year.
Marine insurer Skuld reports 95% COR but flat bottom line for 2015
Oslo-based Skuld has seen an improvement in its combined operating ratio to 95% (2014: 99%) but reported a flat bottom line result of $13m for 2015 (2014: $13.5m or £9.3m).
China sees mutual market development as "important", says CIRC
The Chinese government is supporting the development of the mutual market according to the country's regulator.
20% increase in jobs at mutual insurers since crisis
Globally there has been a 20% rise in the number of jobs at mutual insurers since the financial crisis, according to a report.
Pool Re boosts reinsurance cover to £1.95bn
Mutual reinsurer Pool Re has increased its reinsurance programme from £1.8bn to £1.95bn, after renewing cover it bought last March for a further three years.
Britannia and UK P&I Club in merger talks
The boards of the Britannia Club and the UK P&I Club have entered into merger talks.
Blog: Plentiful capital, soft markets and the case for the specialist mutual
In an insurance market where seemingly never-ending new capital results in a perpetually soft market, with large insurers capable of undercutting their smaller competitors, the established expertise of specialist mutuals will continue to provide an…
Shipowners’ Club records improved COR at half year stage
Marine mutual insurer The Shipowners’ Club has delivered an improved half year combined ratio of 87% to August this year (2014: 95.5%), with a small underwriting surplus of $12.9m (£8.4m) on the 2015 policy year (2014: $4.6m).
Horton first of founding ABC team to depart LV
LV chief operating officer Peter Horton has left the insurer.
LV exploring reinsurance opportunities amid increased market appetite
LV general insurance managing director John O’Roarke says his firm may seek to take advantage of an increased appetite among reinsurers to write primary business amid an uptick in alternative capital entering the reinsurance space.
Shipowners' Mutual posts 94.6% COR after strategic withdrawal
Marine mutual Shipowners Club posted a combined ratio of 94.6% for the 12 months to February 2015, amid high business retention levels and increased membership numbers.
Mutuals' Act gets Royal Assent
The Mutuals Deferred Shares Act received Royal Assent in the House of Lords yesterday (26 March).
Police Mutual sees 2014 income grow 15%
Police Mutual reported total income growth of 15% in 2014 alongside a £44m increase in funds under management from the beginning of the financial year.
Mutuals Bill awaits Royal Assent
The private member's Bill that would give mutual insurers alternative capital raising powers received its final reading in the House of Commons on 6 March and was passed with "unanimous support", according to the Association of Financial Mutuals.
FM Global reports 79.4% COR for 2014
FM Global reported a combined ratio of 79.4% in 2014 alongside a 2% increase in net premiums to $3.6bn (£2.3bn).
Standard Club Asia starts shipping war risk mutual
Standard Club Asia has launched a Singapore-based war risk mutual for ships.
Skuld boosts contingency reserves by $5m in first nine months
Marine insurer Skuld posted positive a bottom-line result of $5m (£3.2m) for the first nine months of 2014, despite a series of large claims pushing its underwriting result into the red.
Standard Club members face 5% premium hike
Shipping mutual The Standard Club has revealed a 5% general increase in Protection & Indemnity premiums for the 20 February 2015 renewal.
Mutual insurers welcome potential funding and M&A boost from new Bill
Bill could mean mutuals get level playing field with shareholder-based insurers
The UK Insurance Growth Action Plan - where we are
Martin Shaw, CEO of the Association of Financial Mutuals, sits on a steering group for the UK Insurance Growth Action Plan. The plan identifies actions that Government, industry, and others can take forward in five key areas over the next 12 to 18 months…