Financial – Page 11
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High Five: Catch up on the biggest stories this week
Insurance Times rounds up the biggest stories of this week
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Hughes Insurance invests in commercial offering to support SMEs
’It’s crucial the SME sector remains adequately supported and protected,’ says director of operations and customer services
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‘Totally unacceptable’ – reaction after justice committee releases OIC report
’Overall, it has been an inauspicious start to life for the OIC,’ says executive director
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FCA issues fair value warning as it slaps Gap insurance providers with ultimatum
’This is an early signal of the work we’ll be doing under the Consumer Duty,’ says director of insurance
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Home insurance payouts surge at faster pace than premium prices in Q2 2023
’Insurers continue doing all they can to offer competitively priced cover,’ says director of general insurance policy
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MPs demand answers amid ‘growing’ backlog in OIC portal and rising premiums
The justice committee has published its findings after calling for evidence on the impact of whiplash reforms
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Cowbell expands cyber insurance distribution through new partnership
’Together, we’re proving how API-driven distribution can transform an industry,’ says chief revenue officer
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Premiums for drivers with vehicles under £10,000 soar by nearly 40% in a year
’The costs of repair, replacement and labour have risen significantly, impacting both insurers and motorists,’ says director of insurance pricing
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Insurers warned as motor and building insurance complaints hit five-year high
’Where these complaints are driven by insurers delaying paying out on claims, that’s unacceptable,’ says chief executive
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Reinsurance sector undergoing ‘dynamic shift’ as it seeks opportunities in primary insurance – AM Best
‘It’s certainly one of those trends that is here to stay,’ says managing director for analytics
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General insurers’ profitability to lag behind cost of capital in 2023 – Swiss Re
‘The elevated risk landscape calls for more frequent adjustments to underwriting practices,’ says chief underwriting officer
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News Analysis
Briefing: All change at DLG, but can the insurer recapture stability?
Direct Line Group has seen its fair share of headlines of late, but does this mean the insurer is moving forward?
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Direct Line Group posts COR of 106.4% for H1 2023
The insurer made an operating loss of £94.4m across the most recent period
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Vast majority of motor insureds worried about premium rises – ALA Insurance
’2023 will undoubtedly be tough for consumers and insurers alike,’ says head of UK general insurance
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Lloyd’s H1 2023 results swing back into profit
’These results set us up to deliver on our positive financial outlook for 2023,’ says chief executive
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RSA agrees ‘transformative’ deal to acquire DLG’s commercial lines operations
The deal ’really turbo boosts our existing strategy for our broker proposition and our customer proposition in commercial,’ says chief executive
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Travel insurance leads personal lines for potential growth
’This growth in annual travel insurance is reflective of a growing confidence and for many, a return to their normal calendar of travel,’ says chief executive officer
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Motor insurance payouts surge faster than premiums in Q2 – ABI
’Motor insurers continue to deliver when motorists and personal injury claimants need them the most,’ says manager general insurance
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News Analysis
What is the most profitable line in UKGI?
Insurance DataLab analyses the top performing business lines in UK general insurance, exclusively for Insurance Times.
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Quoted home insurance prices see record annual increase
’Many customers will be feeling the pinch in their household budgets,’ says senior insight analyst