Financial – Page 10
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Latest NewsDirect Line Group reports £857.1m GWP for 2021’s Q3
Chief executive says the insurer has made ‘strong progress’ so far this year and is ‘on track’ to meet the FCA’s upcoming pricing reform deadline
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Beazley reports GWP improvement of 29% for 2021’s Q3
Chief executive believes the insurer is in a ‘great position to capitalise’ on the ‘the opportunity in the cyber market’
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Axa’s P&C total revenue grows 5% in first nine months of 2021
The insurer’s quarter three financial update reveals commercial lines revenue growth of 7% in the nine months to 30 September 2021
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Axa to launch €1.7bn share buyback programme
The insurer plans to cancel all repurchased shares
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Home and motor insurance markets predicted to be loss-making in 2022 – EY
The professional services firm also believes insurers will need to increasingly focus on environmental, social and governance factors
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Markel boosts underwriting profits despite hurricane and flood hits
The biggest financial impacts for the insurer were natural catastrophes and the covid-19 pandemic
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Around 69% of customers use credit to pay for insurance – Premium Credit
Some who have used credit to pay for cover have not been able to claim on their insurance policy in the past five years
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Hastings Group reports £103m profit before tax in 2021’s Q3
Chief executive says the insurer is ‘well positioned to take advantage of upcoming market changes’ as it seeks to fulfil ambition of becoming ‘UK’s best and biggest digital insurance provider’
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Hiscox has paid out 5,153 BI claims in first nine months of 2021
In his last quarterly trading statement as chief executive, Masojada describes the insurer as being in ‘good shape’
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FloodFlash expands relationship with reinsurer to strike capacity deal
Insurtech boss says the partnership will ‘set the standard for how underwriters and insurtechs can work together to address industry issues’
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Private investment firm agrees to buy majority stake in Ripe Thinking
The insurtech’s leadership plan to use the investment to bolster business growth, including to branch out internationally
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Zurich agrees five-year capacity deal with travel insurer
The insurer will replace previous capacity provider Mapfre
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Gallagher’s net earnings up 22% in Q3 results as M&A ‘remains buoyant’
The broker predicts favourable revenue for Q4 if economic conditions improve following the Covid-19 pandemic
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Willis Re takeover ‘on track’ – Gallagher
The transaction, which is due to close in Q4, will see Gallagher buy Willis Re for $3.25bn
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Motor insurers pocket £3.3bn Covid windfall – ACSO
Pandemic linked lockdowns saw car insurers reap £118 per policy, states ACSO’s research
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Insurtech investment surpasses $10bn in Q3 – Willis Towers Watson
Willis Re’s global head of insurtech warns that despite the huge amount of investment in the sector, this is only landing ’on the doorstops of the few’
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Insight
Property insurers fall to underwriting loss as Covid-19 and climate change hit hard
Business size affects insurers’ buoyancy in the property insurance market after 2020 brought business interruption claims and storm losses to firms’ doorsteps
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Global commercial insurance prices up 15% in Q3 2021 - Marsh
Despite pricing levelling out in certain lines of business, the insurance industry needs to be ready as the ‘pressure on rates in cyber insurance’ continues, says broker president
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LIVE: Top 50 Insurers 2021 Digital Edition
The definitive ranking of the UK’s top general insurers has been released – where has your firm placed?
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‘MGAs need to look a little bit laterally’ when it comes to capacity - Mum
MGA boss also calls for more transparency around capacity provision, suggesting that brokers should be asking more questions
