Lloyd’s of London warns drunk employees could face disciplinary action May 9, 2019 Lloyd’s of London has announced that employees under the influence of alcohol at work could face disciplinary action in some instances following reports of bullying and sexual harassment at the 330-year-old insurance market. Read more: A drinking ban isn't the answer to alcohol-fuelled work culture The exchange said it would crack down on instances where [...]
Insurer Hiscox grows premiums as London market rates improve May 7, 2019 Insurer Hiscox grew gross written premiums in the first three months of the year as rates improved in the London market. The Lloyd's of London insurer said gross written premiums grew 3.3. per cent in constant currency to $1.164bn (£890m) in the first quarter. Read more: German insurer Allianz close to deal for L&G's general insurance [...]
Lloyds Banking Group: Q1 results analysis May 7, 2019 | City Talk By Graeme Evans from interactive investor. After a stunning share price performance, do these 'hit and miss' results justify optimism? Lloyds Banking Group (LSE:LLOY) investors, in need of a silver lining after an underwhelming earnings season from UK lenders, only have to look back 24 hours earlier to the surprise gift handed to the bank [...]
Catlin founder launches new insurer Convex with $1.8bn capital April 30, 2019 The founder of Catlin has launched a new insurer today, four years after the $4.1bn (£3.14bn) sale of his eponymous company. Stephen Catlin will be chair and chief executive of the new insurer, called Convex, with former Catlin chief underwriting officer Paul Brand as deputy chief executive. Read more: XL Group profits jump following Catlin [...]
Cyber attacks on businesses soar 235 per cent as pressure builds on security bosses April 25, 2019 The number of cyber threats to businesses has soared 235 per cent in the last year, with small firms still the most at risk, according to a new report. Data from cybersecurity firm Malwarebytes shows cyber criminals are increasingly focusing on businesses, while threats to consumers have dropped almost 40 per cent in the last [...]
Half of motorists think charging loyal car insurance customers more should be illegal April 24, 2019 Fifty per cent of motorists think it should be illegal for insurers to charge existing customers more than new customers for the same cover, a new survey said today. The research by price comparison site Go Compare showed 61 per cent of participants felt insurers treat existing customers less favourably by charging those who renew [...]
New Aviva CEO shakes up leadership team to boost ‘commercial thinking’ April 24, 2019 Aviva’s new chief executive rang the changes among senior management today as he looks to offer more value to shareholders. Read more: Former Aviva boss pay halved in 2018 as insurers gets tough on bonuses Maurice Tulloch announced three fresh appointments at the insurer as he dumped the chief executive of its UK insurance arm, [...]
We are at the big data frontier – we’re going to need some rules April 23, 2019 We create data all the time, even if we don’t realise it. Whether from social media use, video-watching habits, satellite images, traffic flows, or location data from smart devices, companies are increasingly able to use this information to extrapolate trends and capitalise on behaviour patterns. This has driven change across many industries, but it’s of [...]
UK financial services face talent crisis over social mobility and “boring” reputation April 21, 2019 The UK’s financial services sector is facing a talent crisis as would-be employees are put off by its reputation for being “boring”, a new survey has revealed. Research carried out by Big Four auditor KPMG showed 65 per cent of the UK population would not consider taking a job in the financial services sector. Read [...]
London AI startup Cytora raises £25m from Swedish backer EQT Ventures April 17, 2019 Cytora, a provider of artificial intelligence (AI) technology to transform commercial underwriting in insurance, has today closed a £25m series B funding round led by EQT Ventures. Existing investors Cambridge Innovation Capital and Parkwalk also participated in the round, as well as a number of angel backers. Read more: Startups eye bigger slices of the [...]