Results – Page 23
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NewsMuch at stake for insurers, brokers and policyholders as FCA test case kicks off
The ruling on this week’s test case could have profound reputational and economic implications for insurers and brokers alike
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NewsGefion liquidators revealed after unrated insurer's licence revoked
Chief executive Tonny Anker-Svendsen said the Covid-19 crisis had hampered efforts at raising additional capital
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NewsArdonagh buys Arachas and Bravo Group as it completes £2bn debt raise
The independent broker bought the two businesses for a combined value of £550m
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NewsPen extends construction capacity deal with CNA Hardy
The deal sees CNA Hardy becoming to the sole capacity provider for Pen’s modular construction policies
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NewsTrade associations report high engagement with GPAPs around dual pricing
Biba’s chief executive said the voluntary measures are ‘benefiting home and motor customers’
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NewsInsurtech honcho in final stage of capital investment raise
Durham-based reverse comparison auction insurtech honcho is in the final stages of its 2019-2020 £2.25m investment raise.
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NewsPIB Group reports a 50% improvement on its adjusted EBITDA between 2018 and 2019
The broker’s chief financial officer says ‘we have carved ourselves a unique position in the market’
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NewsZurich offers full refund to single trip travel customers hit by Covid cancellation
Customers who haven’t claimed should be able to get a full refund
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NewsCovid crisis fails to dent Jensten M&A appetite
The broker group plans several more acquisitions this year
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NewsLemonade valued at $1.6bn ahead of IPO
But this still leaves Lemonade with a valuation lower than the $2bn investors valued the company at last year
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NewsPost-Covid world promises productivity revolution
Simply measuring ’bum-on-seat’ time will no longer suffice in the post-lockdown working world
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NewsWimbledon boss confirms the championship will not have pandemic insurance in 2021
The All England Lawn Tennis Club warns that although pandemic insurance has protected the Wimbledon tennis championship this year, finding pandemic insurance for 2021 is likley to be ‘impossible’…
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NewsMarkerstudy confirms that board directors have taken a 50% pay cut
Markerstudy announces its latest step to stay afloat while battling the financial fallout of the Covid-19 pandemic.
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News AnalysisArdonagh downgraded following £2bn refinancing deal
But rating agency Fitch says it expects the broking group to continue to improve its EBITDA margin amidst the potential for increased cost savings as a result of its latest round of acquisitions, as well as a return to ’healthy’ free cash flow
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NewsArdonagh tops debt above £1.8bn amid new M&A hunger
The broker also announced £300m in finance for its acquisition pipeline
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NewsUK personal lines market set for significant shrinkage following Covid-19
And the GlobalData research predicts it will take until 2022 for the market to recover lost GWP
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NewsCovid-19 hits Saga’s travel insurance sales but motor and home retention improves
The business has also sold 533,000 three-year fixed-price policies, with more than 60% of direct new business customers choosing this product
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NewsFormer RSA Ireland chief financial officer disqualified and fined €70,000 for under-reserving breach
The regulator’s investigation found that the senior leader had been involved in the insurer understating its claim reserve estimates by €29m
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NewsWhite confirms Pukka to hand in Gibraltar licence at end of July
The move was designed to ‘rationalise the cost base’ of the business
