Bank moves to control inflation
The Bank of England has cut the UK interest rate to a record low of 0.25% from the current level of 0.5%.
Low interest rates are a problem for insurers because they reduce the investment returns they can make.
The Bank announced the cuts alongside a series of quantitative easing measures, which include buying back up to £10bn of UK corporate bonds and a £60bn expansion of the asset purchase scheme for UK government bonds.
The interest rate has been at 0.5% since 2009.
The Bank has made the moves to counteract an increase in inflation, which it expects as a result of the weakening pound following triggered by the UK’s decision to leave the European Union.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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