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...by the end of the year, provided a riposte to “naysayers” who said the company was “going to burn through [its cash] and go out of business”....
...This part of the insurance industry has been hit by four consecutive years of outsized losses from extreme weather....
...Questions over the dark fleet’s insurance are a long-standing industry concern, with doubts over the ability and willingness to cover the costs of a large spill such as the Exxon Valdez disaster or the Braer...
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“The fact that insurance grew here as an industry and as a business, it means that there is so much history and expertise, experience, skills, knowhow that is fostered here in the UK . . . and I would, as...
...Lloyd’s of London has delivered its best underwriting performance since 2007 and signalled that commercial insurance prices are likely to stay high in the coming years....
...The company set a new target to generate £2bn of operating profit by 2026, and new guidance that the cash cost of its dividend should grow by a mid-single-digit percentage....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Employers’ association the CBI has proposed that employee assistance programmes, such as health insurance, be made a fully tax-free benefit, while the CBI and British Chambers of Commerce are calling for...
...Demand for private medical insurance in the UK is expected to rise this year, according to industry executives and independent analysts, as the junior doctors’ industrial action shows no sign of ending and...
...A hard market, in industry parlance, is a period of rising prices where supply falls significantly behind demand....
...He Yadong, spokesperson for the commerce ministry, on Thursday called on Washington to “stop unfairly suppressing foreign companies”....
...On the regulatory side, the forum said it was considering what it called a “sandbox” idea, where the industry and its regulator, the Bank of England’s Prudential Regulation Authority, could “discuss and...
...This has already occurred in home insurance relating to climate, with US states including Florida providing cover for homeowners who are unable to get it; the UK’s Flood Re is a joint government and industry...
...It had also seen some examples of companies paying out 70 per cent of the premiums in commission to third parties involved in selling the add-on insurance....
...Confused.com, on whose platform the index of quotes is based, said it was a “bleak time for drivers and their car insurance”....
...The House energy and commerce committee last week approved it in a unanimous 50-0 vote....
...allowing another 20 companies to export second-hand cars, according to a statement released by the city’s commerce bureau late on Monday....
...The average cost of a building and contents policy was £350 in the third quarter of 2023, up 15 per cent year on year, according to industry data, and sector experts expect the pace of premium rises to accelerate...
...A ban could be a good thing for direct rivals to TikTok’s dominance in social commerce, such as Instagram Shopping and Amazon Inspire, which launched in 2022....
...US banks collectively increased earnings by 2 per cent to $256bn in 2023, a year that was marked by both the high-profile bank failures and significant government assistance for the industry....
...Cigna chief executive David Cordani said the company remained “financially disciplined” and “will consider bolt-on acquisitions aligned with our strategy” in a statement on its share repurchase programme...
...Also in the group is Manuel Sánchez Rodriguez, a former top executive at Spanish bank BBVA and a board member, since 2018, of the US government-backed mortgage insurance company Fannie Mae....
...Both laws are part of a broader EU effort to increase environmental standards for a host of industries and reduce the bloc’s carbon footprint....
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