Financial / Results – Page 80
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NewsBiba confirms redundancies due to Covid-19 pandemic
The trade body will lose five employees as part of the redundancy process
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NewsBriefing: Why Hastings is a good fit for Sampo
The £1.7bn proposed takeover of Hastings by a consortium lead by Finnish insurer Sampo was met by surprise by many, but under closer inspection the deal might make a lot of sense for both parties By data insights editor Matt Scott
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IT InterviewZurich takes ‘track record of claims payment seriously’ as H1 earnings suffer Covid-19 hit
The insurer’s UK chief executive confirmed that its general insurance arm saw a £140m impact on earnings as a result of the coronavirus pandemic
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Online onlyCovid-19 claims push Zurich into the red
But new business and retention was up for the first of the year
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NewsQBE reveals $335m Covid-19 hit in half year results
Coronavirus losses and poor investment returns drive insurer to a $712m loss
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News AnalysisNeil Utley set for £70m windfall from Hastings sale
Former chairman and chief executive Gary Hoffman is also set to pocket £15m from the deal
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Online onlyBriefing: Hastings seals a good deal
Hastings has enjoyed strong growth. But claims issues had been catching up with them. Going private works well.
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NewsCar claims on the rise, but may never return to pre-Covid levels says Admiral boss
Shifting consumer trends brought about by lockdown makes predicting claims cost and frequency more difficult
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NewsAdmiral profits surge as fewer lockdown claims slice chunk off combined operating ratio
Like its peers Hastings and Direct Line, Admiral has benefited from a fall in claims frequency during lockdown
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NewsInsurers shine spotlight on shipping container loss incidents
The extent and pace of growth in container volumes have put strains on a wide range of operational procedures
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NewsCommercial insurance pricing up 19% in Q2
The increase is the largest since the index was launched in 2012 and reflects increased loss experience
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NewsBrokers urged to capitalise on post-Covid cyber demand as homeworking become the norm
Less than half of cyber policies are distributed through the broker channels
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NewsBennetts must be ‘held separate’ from Ardonagh pending probe outcome, competition authority rules
Ardonagh originally revealed its intention to buy the motorbike broker back in February
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IT InterviewABI’s Huw Evans says ‘unpopular’ stance around BI Covid claims was the right call
He adds that the trade body was ‘right to be very open with people’ in order to mitigate ‘a false expectation that they may be covered’
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NewsCounty Group buys Worcestershire broker
The acquisition adds another ‘spoke’ broker to GRP’s north west hub
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NewsCredit insurers saved from colossal Covid losses due to state support
Ratings agency predicts that demand for trade credit insurance will increase in the medium to long-term, as SMEs and corporates realise the value of cover in the wake of Covid-19
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NewsNorthern Irish brokers Abbey and Autoline merging
Continued consolidation seen in the province’s broker market
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NewsGeneral insurance direct written premium set to fall by 1.7% in 2020 due to Covid-19
The lasting effects of the coronavirus crisis means that GI DWP will not return to previous levels until beyond 2023, predicts analytics company
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NewsAgeas sees COR improvement as result of reduced motor claims
Ageas remains committed to its staff, stakeholders and customers despite the uncertainty of the pandemic as it sees improvements in its COR, as well as GWP in household
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Online onlyBriefing: Blanc’s Aviva UK champion plan risks shareholder ire
Aviva’s new chief executive Amanda Blanc plans will not go far enough to excite investors
