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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....
...“In the UK, Tata’s plans and those of the government reflect the short-term thinking of a clapped-out disinterested government marking time to a general election.”...
...win the UK general election....
...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....
...Roy Rickhuss, general secretary of the Community steel union, urged the company to reconsider, describing the decision as “unacceptable” and “devastating for Port Talbot and the wider steel industry”....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...“Large-scale job losses would be a crushing blow to Port Talbot and UK manufacturing in general,” said Charlotte Brumpton-Childs, a national officer at the GMB union....
...Premiums from its general insurance division, which includes car insurance, also grew....
...Roy Rickhuss, general secretary of the Community steel union, said he was “braced for bad news” but warned that he was “determined to maintain steelmaking in Port Talbot,” adding: “If Tata is not prepared...
...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....
...“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....
...Barclays operates a partnership model in the US market, running co-branded credit cards for 20 companies including The Gap, JetBlue Airways and the AARP....
...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...
...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...
...The raid on profits is a long way from the Corbyn era, when some energy utilities moved holding companies abroad to try to fend off the threat of renationalisation....
...Aviva’s UK general insurance business reported a 96.1 per cent combined operating ratio in 2022, worse than the previous year but still profitable....
...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...
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