Financial / Results – Page 77
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NewsFCA test case appeal confirmed for Supreme Court
However Ecclesiastical and Zurich have bowed out, while Qatar Insurance Company Europe has been denied the right to intervene
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Online onlyBriefing: £11bn lost revenue … astonishing costs of FCA price reform
It is enough to make the mind boggle. Looking through the FCA’s pricing reform papers, some startling predictions are made by the regulator. The revenue lost to UK General Insurance is huge, putting this regulatory event as possibly the most costly industry event in the recent history of this ...
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NewsBriefing: Hyperion equity deal sets up regional acquisition spree
The A-Plan deal gave the Hyperion group a new presence in the regional broking market. Combining this with a newly expanded M&A war chest could pave the way for some exciting times ahead By insight editor Matt Scott
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NewsNot-for-profit broker SEIB buys ‘ethical’ intermediary
Acquisition target WRS specialises in the social welfare sector
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NewsHyperion receives long-term equity investment to boost M&A war chest
The equity investment from European investor Hg values the business at $5bn
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Online onlyBriefing: Broker profits are seriously threatened by FCA premium finance crackdown
The FCA’s plans to crackdown on premium finance are causing serious concens for brokers
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NewsFCA files ‘leapfrog’ appeal application to the Supreme Court for BI test case
Despite believing that the judges’ verdict earlier this month was clear, the regulator has filed its application as a precautionary measure
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NewsInsurtech Ripe posts 16% revenue rise
It is the insurtechs twelfth consecutive year that it has reported a rise in its financial results
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News AnalysisArdonagh EBITDA up 30% as specialty business drives growth
Chief executive David Ross said the result was testament to the broker’s resilience in the face of Covid-19, aided by the group’s diversified portfolio
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NewsClear Group buys Brokerbility Holdings
The deal marks the broker’s biggest acquisition to date - it will now manage around £200m in premiums and employ more than 400 staff
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NewsInsurers to suffer dip in short-term profitability due to FCA’s price walking measures
However, credit ratings agency predicts that in the longer term, retention will increase
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IT InterviewCovid-inflated credit hire claims is ‘a big issue' for insurers, says law firm partner
The Covid-19 pandemic may be boosting income opportunities for credit hire firms – accumulatively, this could end up being a big financial hit for insurers
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News AnalysisA-Plan deal a ‘stepping stone’ to further growth says David Howden
The near £700m deal is expected to create a £1bn broking giant once it completes, and with reinsurance and London specialties joining forces with a large regional presence, the newly formed business will have a number of strengths to bring to market
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NewsLloyd’s taken off Fitch ratings watchlist
Fitch has now affirmed Lloyd’s AA- rating and removed them from the Ratings Watch Negative list, saying their rating is now stable
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NewsHowden to buy A-Plan Group as it aims to expand its retail broking reach
The combined group will have a GWP of £4bn
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NewsFSCS urges customers to ask key questions before switching insurers
With the ongoing pandemic and the FCA’s pricing practices report in mind, FSCS wants customers to be ‘confident and in control’
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NewsFCA lays more options for exiting auto-renewals on the table
The FCA’s proposals around auto-renewal will apply for all forms of retail general insurance
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NewsFCA taking 'the nuclear option' in pricing remedies
The regulator has gone further than it has in previous interventions, argues former FCA figure
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Online onlyBriefing: The winners and losers from the FCA’s pricing ban
FCA price walking ban impact on customer, insurers, brokers and aggregators
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Online onlyDirect line shares take sharp fall amid FCA pricing ban
One of UK’s largest personal lines players feeling the pinch from FCA pricing ban
