Insurer News – Page 118
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NewsAverage annual motor insurance premium up by £5 in Q2 2022 – ABI
Motor insurers are facing cost pressures, but they remain committed to keeping cover as ’competitively priced as possible’, says general insurance manager
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NewsAgeas bolsters distribution team with senior appointment
The new hire previously worked at Aviva in a series of senior roles
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NewsSwiss Re Institute warns of mixed impact from economic slowdown and high inflation
The UK insurance sector’s priority right now should be embracing ‘data and innovations’ to build an understanding of the factors that shape present and future risks, says divisional broker representative
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NewsRates ‘will need to increase’ to accommodate high inflation – Allianz Holdings
Amid predicted inflation increases and an impending recession, insurer boss has fears around underinsurance and incorrect indexation in the commercial market
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NewsAllianz Holdings’ operating profit falls 42% in H1 2022 due to motor uptick, inflation and storms
The insurer’s COR has also worsened, despite the business growing its total revenue by 5% in the first six months of the year and commercial lines GWP improving by 10%
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NewsAxa prepares for ‘potential claims’ from Ukraine and Russia war through exposed lines
Some of the insurer’s crisis management policies, for example, have been ‘triggered because of the war in Ukraine’, says group chief financial officer
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NewsLloyd’s receives regulatory approval to establish second PCC
London Bridge PCC will expand the marketplace’s capabilities in line with its strategy
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NewsAxa XL records 6% dip in H1 2022 revenue after cutting natural catastrophe reinsurance exposure
Insurer chief executive notes that the subsidiary still has the ability ‘to generate earnings totally in line with our objectives’
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NewsAxa’s UK and Ireland P&C revenue grows by 3% in H1 2022
The insurer’s group deputy chief executive additionally outlines two ‘headwinds’ impacting Axa’s group-wide P&C COR of 93.7%
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NewsHiscox results reflect mixed bag for H1 2022
The insurer’s underwriting result improved by 23.4%, despite conflict and nat cat driven losses
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NewsAxa launches €1bn share buyback following ‘very good performance’ in H1 2022
The new scheme will operate alongside the share buyback programme set to follow Axa Germany’s sale of its closed life and pensions portfolio
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NewsAviva purchases specialist MGA’s HNW personal lines business
The acquisition supports the insurer’s intention to become the ‘market leader’ in this business line
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NewsDirect Line Group sees profits tumble as ‘unique combination’ of factors impact market
The insurer has posted a loss ratio of 65.1% for H1 2022
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NewsBiba welcomes consumer duty implementation extension
The trade body has also questioned a ‘lack of prescription’ within the new rules and invited firms to make use of its template fair value assessment solution
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NewsAdmiral and Direct Line face double-whammy margin hit in 2022 – Bloomberg Intelligence
Regulation implementation and inflation pushing up claims’ costs are among the causes
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NewsProposed Leasehold Reform bill a ‘red flag’ for industry over property insurance commission disclosures
‘Millions of people’ could be insured ‘for a lot less’, says financial compliance firm principal
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NewsInsurance Data Lab reveals highest ranked insurers for customer experience
Six insurers have been recognised with a ‘gold award’ for ‘doing their utmost to help their customers’
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NewsFCA publishes final rules for Consumer Duty regulation
The regulator has extended its implementation timeline for its ‘step change’ Consumer Duty principle by three months, but company boards must agree their implementation strategies by October 2022
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NewsTravel insurers must address ‘misunderstanding’ over coverage – Consumer Intelligence
A lack of consumer trust in the travel insurance sector should be addressed with greater clarity over policy exclusions, says senior insight analyst
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NewsInflation is surmountable with proper provision – Beazley
The specialist insurer has ensured it has sufficient amounts of reserve capital in place, to help it weather economic storms such as inflation
