Financial – Page 10
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NewsDLG returns to profitability but in-force policies drop
’The actions we have taken are beginning to make a difference but there is more to do,’ says chief executive
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NewsHiscox’s London market arm targets ‘underwriting discipline’ to ‘grow profitably’ amid ‘microcycles’
Insurer’s chief underwriting officer expects second half growth for this area of the business after experiencing insurance contract written premium dip in 2024’s H1
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NewsP&C reinsurers saw strong earnings in H1 2024 – Morningstar DBRS
The ratings agency has maintained its positive outlook on the global P&C reinsurance sector “despite high natural catastrophe losses and likely lower interest rates globally”
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NewsUK pet insurance policies reached record numbers in 2023 – ABI
’It’s encouraging to see record numbers of pet owners all over the UK take out insurance to help cover the cost of veterinary treatment,’ says senior policy advisor for general insurance
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NewsAgeas UK posts 49% growth for H1 2024 as parent announces shareholder dividend
’We will be distributing an interim gross cash dividend of £1.26 (€1.50) to our shareholders,’ says Ageas chief executive
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NewsDLG makes change to solvency capital ratio after miscalculation
’The group has taken action to strengthen the control environment in relation to the specific area where the miscalculation occurred,’ says insurer
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NewsGovernment IPT revenues exceed £3bn for first four months of 2024/25 financial year
However, ’a reduction in IPT is unlikely at the Autumn budget,’ says head of insurance consulting
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NewsFCA warns of potential Gap action repeat in other markets after fair value review
’We’ll continue to take action where we see poor value,’ says director
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News Analysis‘Calmer waters’ for reinsurance in 2024 signals innovation opportunity
However, no new startups appear to be taking advantage of ‘gradual softening’ market conditions and some reinsurers are described by primary firms as ‘opportunistic’ in their bid for growth
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IT InterviewNeill Johnstone: Lorega to continue investment in system capabilities
Neill Johnstone, managing director at Lorega, explains what brokers can expect from the MGA in the coming year and outlines key trends impacting the MGA market
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News AnalysisTechTalk: Crypto stock market crash could burst AI bubble for insurtechs
’The downturn in the crypto markets signals a period of heightened caution and strategic reassessment’, says chief operating officer
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NewsMGA announces new multiyear capacity agreement
’Securing additional capacity like this gives us the headroom and certainty we need to expand further into new lines,’ says chief executive
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NewsAviva will ‘focus on long-term, consistent, stable pricing’ rather than ‘chase short-term blips’
Despite acknowledging that home insurance needs ‘more rate’, insurer’s UKGI boss plans to ‘maintain pricing discipline’ and avoid reacting to ‘short-term choppiness’ in rate movements
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NewsStock market crash creates ‘ripple effect’ for insurtechs
’This market turbulence can be particularly challenging for fintech and insurtechs,’ says chief operating officer
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NewsThousands of Admiral employees to get shares as profit and revenue soars
Chief executive says the insurer was more competitive in H1 2024 due to its ’earlier pricing response to inflation in previous years’
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NewsAviva’s UK&I GI business boosts operating profit as GWP rises
’This is an excellent set of results, with continued double digit growth across both personal and commercial lines,’ says chief executive
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NewsAllianz UK ‘widening distribution footprint’ for smaller brokers
’We are making a lot of investment in the front end of our business,’ says chief executive
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NewsCatch up on insurers’ 2024 half-year financial results
UKGI insurers are releasing their trading updates with details on their half-year financial results for 2024. Here’s Insurance Times’ roundup of all the stories you need to keep abreast of the latest figures…
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NewsLloyd’s financial strength rating upgraded
’Our financial strength and solid capital platform enable us to deliver on our strategic growth ambitions,’ says chief financial officer
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NewsAllianz UK reports discounted COR of 94.6% for 2024’s H1
Amid year-on-year operating profit growth of 55%, chief executive promises ‘much more is yet to come’ from the insurer
