Hiring market: Insurance sector outperforms financial services in 2023 February 26, 2024 Job vacancies in the insurance sector fell less than those in the financial services market last year. According to a City A.M.’s exclusive of a report by specialist recruiters Harrison Holgate and market data analytics firm Vacancysoft, vacancies in insurance dropped by 15.1 per cent compared to the fall of 30 per cent for the [...]
Reinsurer Conduit Re sees underwriting business surge as clean balance sheet offers ‘tremendous freedom’ February 21, 2024 Pure-play insurance firm Conduit Re has reported a surge in business underwritten for 2023 and said its strong balance sheet offers "tremendous freedom".
Sabre: Leading motor insurance underwriters expect to exceed forecasts ‘across almost all key measures’ February 15, 2024 One of the UK’s leading motor insurance underwriters, Sabre Insurance, has boasted that it expects to outperform expectations in its upcoming results. In a trading update today, the group said it expected its 2023 results to “meet or exceed current market expectations across almost all key measures”. This included the group’s gross written premium, estimated [...]
Bank of England plots reinsurance stress tests amid fears of hidden risks February 13, 2024 The Bank of England has said it is mulling whether “further measures” are required to shore up major insurers today, amid reports it is preparing stress tests to probe the market’s exposure to offshore reinsurance firms.
Google in talks to participate in Lloyd’s of London captive syndicates February 12, 2024 US tech giant Google is reportedly in talks to participate in the City's insurance and reinsurance market via a captive.
Competition watchdogs kicks off inquiry into Aviva acquisition of AIG Life February 8, 2024 The Competition and Market Authority (CMA) has launched a merger inquiry into the acquisition of AIG Life by Aviva. It was announced last September that Aviva was acquiring the US giant protection business from its subsidiary Corebridge Financial for a quoted price of £460m. The business Aviva is buying provides has 1.3m individual protection customers [...]
UK should ‘shout about the insurance industry a bit more’: Howden boss February 6, 2024 David Howden told City A.M. that insurance was a 'City success story' as his firm posted another set of strong financial results
Augmentum leads fresh investment round in London insurtech Artificial Labs February 6, 2024 It will also look to entrench its position as in algorithmic underwriting software, as insurance increasingly looks towards 'digital solutions', an update to the markets said this morning.
Talent crisis: Insurers are struggling to attract new staff. Could painting and TikToks be the answer? February 6, 2024 Insurance firms are in need of new blood. But the industry - innovative and exciting once you're in it - is struggling to cut through to the next generation.
Phoenix hits targets early as growth in annuities pays off February 1, 2024 In a trading update, Phoenix said its new business long-term cash generation, a key measure of future profitability, was around £1.5bn in 2023.