Financial / Results – Page 76
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NewsComparetheMarket slapped with fine for breaking competition rules
Price comparison site ComparetheMarket imposed ‘most favoured nation’ clauses on its home insurance contracts over a two-year period
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NewsSainsbury’s insurance exit draws nearer as buyers circle banking arm
The supermarket giant announced it had received interest from potential buyers for the banking division, which includes insurance products
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NewsLloyd’s pandemic losses worse than predicted, says chairman Carnegie-Brown
The insurance market previous estimated losses would be around the $107bn mark, but has revised that figure upwards
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NewsRSA accepts takeover offer
The transaction will be completed in Q2 2021, and the deal will result in the break up of 300-year insurer RSA
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NewsElectric vehicle prices main barrier to PM’s green ambitions, says LV=
Insurer LV= advocates the use of ‘fiscal incentives’ to encourage drivers to switch to electric vehicles
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Online onlyBriefing: Why an RSA takeover might actually be very good for brokers
Brokers’ gut reaction may be one of concern at the RSA takeover, but there is likely to be more upside than downside
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Online onlyCatlin’s Convex in fresh funding raise as it seeks to capitalise on hard market
Convex’s latest funding round brings its total raised since launch to $2.7bn
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NewsBrokers to blame for lack of pandemic focus in FTSE 100 boardrooms – Mactavish
The firm’s chief executive believes organisations have been ‘wasting their money’ on broker advice if pandemic risks have not been mentioned
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NewsAston Lark buys two specialist brokers
Aston Lark announces its second round of M&A activity within a week
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News‘Insurance markets are holding up extremely well’ in the face of Covid-19 – Swiss Re
Despite causing ‘the worst recession of our lifetime’, reinsurance economist says the insurance sector should expect ‘a strong V-shaped recovery for 2021’
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NewsFCA pricing remedies not intended to squeeze margins, says Direct Line’s Penny James
Direct Line chief exec says pricing c hanges are unlikely to be seen until the new rules are implemented
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NewsIntact says it has financing for RSA bid
The Canadian business issued a statement in London today with the details, adding that it has ‘all of the equity financing’ it needs
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NewsSecondary psychiatric injuries add ‘significant sums’ to PI claims costs – Kennedys
Insurers may have to stump up higher claim payouts for individuals who develop a gaming disorder or an opioid addiction as a result of a physical injury
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NewsStruck out BI claim proves there is no ‘public policy move’ following test case
Barrister says that not all business interruption claim cases will follow the trajectory of the FCA’s test case and that not all clauses will be interpreted in favour of the policyholder
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NewsAgeas records £52m operational free capital generation in UK for third quarter
The insurer said that product lines which are exposed to the fallout of the coronavirus pandemic are ‘limited’
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News‘Real opportunity’ in dual pricing ban for MCE, says bike broker boss
MCE boss Julian Edwards said the pricing ban would benefit insurers with lower expense ratios
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NewsCovid-19 losses ‘not a major concern’ for Zurich, as group releases Q3 trading update
The insurer is confident that it has limited exposure to any new developments regarding the pandemic
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NewsAston Lark snaps up Amlin pleasure boat business
UK yacht is one of the nine classes of business Amlin said it was seeking to withdraw from last year
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NewsFall in Direct Line Group premium income offset by fewer claims
It is on track to deliver a combined operating ration between 93% and 95%
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News AnalysisBrokers react to consortium’s ‘strong bid for an iconic brand’ in potential RSA purchase
UK brokers believe RSA’s potential new owners should build on the insurer’s firm legacy foundations, while others in the industry say external ownership could prove positive
