Financial / Results – Page 70
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NewsPremium Credit to offer payment options for supplementary FSCS levy
Insurance firms typically have 30 days to pay up on supplementary levy charges
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News AnalysisAllianz Holdings describes communication with brokers as ‘great success over 2020’
Chief executive says virtual methods have allowed the insurer to stay in touch with brokers ‘to a greater extent’
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News AnalysisL&G acquisition offers ‘really good opportunities for future growth’ says LV=GI boss
Plus, the FCA’s proposed changes around pricing will mark ‘a significant change event’ for personal lines insurers says LV=GI chief executive
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NewsABI members predicted to pay £2.5bn for Covid-19 claims incurred in 2020
The ABI’s director general believes the industry needs ‘to learn lessons from this unprecedented event’
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NewsLV=GI confirms 300 redundancies following staff consultation
The redundancies are part of LV=GI’s broader restructuring plans, which aim to integrate L&G General Insurance into the business
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FeaturesAllianz Insurance exposed to BI claims through broker wordings
Chief executive adds that the insurer has seen 3,000 new business interruption claims following the Supreme Court’s judgment in January
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NewsAllianz Insurance sees 5.6% drop in GWP due to Covid-19 impact
The insurer says the total impact of coronavirus-related business interruption claims is £175m, net of reinsurance
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NewsM&A set to soar in 2021 – Clyde and Co
In the law firm’s report released yesterday, it revealed that dealmakers’ appetites have returned after the hit of the pandemic
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FeaturesAon-WTW merger – a Gordian Knot the market has yet to fully unravel
The $30bn broker mega-merger of Aon and Willis Towers Watson is making slow progress towards completion. However, the market is still struggling to understand what impact it will have for the future
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NewsMore than a fifth of adults trust insurance firms less because of Covid-19
To rectify the negativity surrounding the business interruption test case and the resulting impact on trust in the sector, ‘there is clearly work to be done at an industry level’ says Sicsic Advisory MD
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NewsArdonagh Group expands down under with Resilium buy
The group’s chief executive David Ross says the acquisition forms the ’centrepiece’ of its Australia operations
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NewsIrish policyholders aged over 70 experience ‘inflated premiums’ for motor insurance
Insurance broker reveals ‘staggering price differentials’ for individuals aged over 70 in Ireland
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NewsBrit reports a 5.7% increase in GWP over 2020 despite $232m loss after tax
Group chief executive says there are ‘a number of indicators to give us cause for optimism’, regardless of the ‘significant’ financial impact of Covid-19
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NewsZurich UK reports 73% drop in business operating profit due to Covid-19
The insurer’s property and casualty business also experienced a 75% decline in business operating profit, however gross written premium for this division grew by 11% year-on-year
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NewsDuff and Phelps offers support for Prometheus policyholders following collapse
The firm believes there are around 5,000 policyholders in the UK and Gibraltar who have been affected by Prometheus going into administration
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NewsManifesto 2021: Biba calls for ‘proportionality and fairness’ in levy
The supplementary levy is a worry for brokers during the pandemic
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IT InterviewHard market is ‘biggest opportunity we have’ – McGill and Partners
The broker’s head of structured solutions admits that he lives ‘on tension and strain in the market’ in order to drive product innovation
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News AnalysisHowden Group puts ‘a new clank in that whole model’ by backing Dual with capital
Chief executive David Howden says Dual ‘as a business is absolutely of the moment’ and is now ‘in quite a unique position’ following internal capacity investment
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NewsAverage global commercial insurance premiums see ‘record’ quarterly rise - Marsh
Despite significant price increases seen in the last quarter of 2020, premiums for some classes are beginning to plateau though
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NewsHome insurers will benefit from pandemic claims trends in 2021 – Fitch Ratings
However, credit rating agency director believes ‘the pricing environment in the household sector’ will ‘remain weak’
