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...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Mark Brown, general secretary of the independent BTU union, said Lloyds seemed to be “throwing the baby out with the bathwater” just as the lender was under scrutiny as part of an industry-wide probe into...
...Officials are hopeful the ban will be come into effect by the general election, expected next year....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The company’s shares were down more than 2 per cent in morning trading in London....
...The attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Gross profit in the first quarter at the FTSE 250 company was 12.8 per cent below the same period last year, with continental Europe and the UK particularly hard hit....
...The attorney-general’s lawyers further claimed Knight Insurance sent “100 per cent of its retained insurance risk to affiliates in the Cayman Islands”, where “lax regulations” allowed the company to bolster...
...Premiums from its general insurance division, which includes car insurance, also grew....
...Aviva chief executive Amanda Blanc said the deal “opens up new opportunities to accelerate growth” in the group’s general insurance business....
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...Employee ownership accounts for a third of Howden’s shares, alongside external minority shareholders including private-equity groups General Atlantic and Hg....
...Rossi, who became chief executive in late 2022, highlighted the group’s investment performance across its funds and the contribution from the life insurance business as the reasons behind the company’s recent...
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...National General implemented rate increases at 10% in 2022 and an additional 12.8% in 2023....
...Laura Hughes, its manager for general insurance policy, said the government should “guarantee that flood prevention and resilience measures are considered in all planning decisions and building standards...
...Climate change means your home insurance premiums are probably going up. So are reinsurers’ returns....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...Some bulk annuity providers such as Aviva and Legal & General are part of broader groups offering other types of insurance and investments but PIC, founded in 2006, is a privately owned specialist in the...
...the company in as many years....
...The demand has helped push a number of continental European companies to issue sterling debt for the first time in recent months, including German real estate company Vonovia, German truck manufacturer Traton...
...This year it did the biggest UK deal of its kind, when general insurer RSA offloaded £6.5bn of liabilities to the group....
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