Financial Ratings – Page 10
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NewsFCA investigates 165 Covid-19 scams
Financial services firms and banks have been targeted by fraudsters during the coronavirus pandemic
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News AnalysisDAS UK reports surge in profits
But large losses in the insurer’s ATE run-off portfolio push COR northwards
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NewsMotor injury claims fall sharply during Covid-19 lockdown
A sharp fall in motor injury claims was recorded in the second quarter of 2020 as fewer people took to the roads
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NewsEcclesiastical hit by £59.7m loss due to Covid-19 impact
The insurer’s chief executive describes the headline loss as ‘disappointing’, attributing it to the ‘uniquely challenging’ circumstances arising from the coronavirus crisis
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NewsQBE gives £10.6m in premium rebates to motor fleet customers affected by Covid-19
Around 60% of the insurer’s rebates went to policyholders within the bus and coach industry
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NewsNexus combines acquired trade credit brokers under single Xenia brand
Xenia is aiming to become the world’s leading trade credit distributor
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NewsR&Q programme management business reports 43% increase in GWP for H1 2020
As at 30 June, the division has 36 active programmes compared to 26 at this point last year
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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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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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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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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
