Financial – Page 24
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NewsInsurers may be ‘forced to scale back services’ as BoE hikes interest rates
Warnings of a long recession also sent the pound into a downward spiral, further piling pressure on insurer’s finances
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NewsAxa UK and Ireland’s revenue increases by 5% across first nine months of 2022
The business’ personal non-motor P&C line dropped in total income, however
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News AnalysisBriefing: Not enough female founders and chief executives in insurtech
The insurance industry has a long way to go to improve the lack of females in insurtech c-suite and technology roles
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News AnalysisWill appetite for UK broker schemes dwindle amid ‘stark drop’ in possible commission earnings?
One line of business presents a silver lining, however, reporting a 10% growth in brokers’ commission earnings as a percentage of premium between April and October 2022
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NewsHiscox UK’s latest trading statement reveals 4% growth in GWP
The insurer’s GWP took a hit in US Dollars, however, due to a sharp depreciation of the British Pound
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News AnalysisThe Big Question November 2022: How can brokers navigate cost of living client conversations amid insurers’ inflation hit rates?
Insurers are having to increase rates as a result of inflation, but end customers may struggle to pay these prices due to the cost of living crisis. Insurance Times asks industry leaders how brokers can navigate these conversations
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NewsCover Genius secures £61m in latest funding round
The funding will help the insurtech boost its business growth and expand its XCover distribution platform, it says
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News AnalysisMGA financials under the spotlight
Insurance DataLab reveals the preliminary findings of its 2022 MGA performance report exclusively in Insurance Times, rating the performance of MGAs based on their financial performance
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NewsBroker CEO Forum: ‘Difficult to manage’ economic turmoil will last until 2024 – RSM
However, opportunities exist for the insurance sector during difficult times, says economist
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NewsGallagher reports rise in Q3 2022 net earnings
The firm’s total revenue saw a slight drop, despite increases for its risk management and brokerage segments
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News AnalysisIn Focus: How can MGAs entice insurers to provide capacity amid challenging market conditions?
Three industry experts discuss how MGAs can make themselves as attractive as possible to capacity providers amid hard market indicators
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NewsReliance on credit to buy insurance rises as price pressures squeeze – Premium Credit
Buildings and contents insurance are mainly being dropped by those seeking savings
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News AnalysisBriefing: What do PE firms look for when investing in brokers?
M&A has been an important driver of growth for broking firms, as Broker CEO Forum attendees describe organic growth as ‘the Achilles heel of the industry’
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NewsQ3 2022 most expensive quarter for motor premiums – Confused.com
The increase in premium prices is a result of insurers battling a ‘bitter cocktail of rising cost pressures’
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News AnalysisBriefing: Uncertainty - The new insurance buzzword
Being proactive around market trends and data insight is the only way to stay ahead in today’s insurance industry
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AnalysisBriefing: Brokers believe PE firms should reject historic ‘disjointed’ view of MGA investments
Attendees at this year’s Broker CEO Forum discuss the drivers behind the current MGA capacity crunch
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NewsSeventeen Group posts ebitda of £4.82m for 2021
The group also posted a 27% increase in revenue
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AnalysisBriefing: Insurers face winter of discontent as sterling adds to claims woes
The ups and downs of the British pound gives insurers more to think about when it comes to claims costs
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NewsMotor insurers and credit hire companies agree increased hire rates
The move hopes to ease pressure among GTA members and reduce risk for end customers
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News AnalysisBriefing: Conservative financial strategy leaves industry seeing red
Insurers’ hopes of managing the inflation crisis were badly dented by the reaction to the recent mini-budget
