High Five: Catch up on the biggest exclusive stories this week

Starting the week, attention turned to insurance careers broadly, as Harry McNeil explored why so many still say they “fell into” insurance – and why that narrative is changing.

Industry figures including Caroline Wagstaff at the London Market Group said the sector has undersold its global importance for too long. But with new generations discovering insurance, more recruits are now walking in with purpose rather than stumbling in by accident.

• In Focus: Why so many say ‘I fell into’ insurance – and why that’s changing

Following this, the UKGI market’s financial health came under scrutiny as Insurance DataLab revealed that insurers collectively returned to underwriting profit in 2024 for the first time since 2021.

With a market-wide COR of 96.2%, the findings highlighted how expense management has become the decisive factor in restoring profitability.

• UKGI market returns to underwriting profit as expense management pays dividends

The week also saw renewed attention on talent, with Harriet Scott warning that underinvestment in reinsurance expertise poses a “peril” for the London market.

With a quarter of its workforce now over 50, industry leaders said succession planning is critical to avoid a vacuum of knowledge.

• In Focus: The impending ‘peril’ of underinvesting in reinsurance talent

Meanwhile, fresh insight into motor customer behaviour suggested a major shift in the post-GIPP landscape. Chief executive at Consumer Intelligence Ian Hughes told George McDade that switching has dropped to an all-time low, with only one in three motorists changing provider at renewal.

More than three years after the FCA scrapped the “loyalty penalty”, Hughes argued that 2026 could be the “year of loyalty” as insurers double down on retention and cross-sell strategies.

• Motor insurance switching reaches historic low – are GIPP rules finally making an impact?

Finally, supply chain disruption returned to the spotlight. Scott reported that tariff-linked pressures and geopolitical volatility are now creating business interruption exposures “worse than Covid” for some firms.

Marsh McLennan analysis revealed that today’s challenges – from tax complexity to material shortages – demand new approaches to insured values, policy wordings and reinstatement planning

• Tariff-linked supply chain disruptions ‘worse than Covid’ for business interruption