Royal London profit rises after new business sales August 8, 2025 Royal London reported strong profit growth in the first half of the year after an increase in new business sales. The insurance company recorded a 15 per cent rise in pre-tax profit to £166m, compared to £144m in 2024, crediting its higher business sales and bulk purchase annuity buy ins. The group completed eight BPA [...]
InsurTech funding slumps despite AI demand August 7, 2025 Global funding for InsurTech startups slumped in the second quarter of the year despite demand for AI as companies looked to the tech to help drive efficiencies and process claims. According to the second-quarter 2025 Global InsurTech Report, a collaboration between Gallagher Re and CB Insights, global InsurTech funding declined by 16.7 per cent quarter-on-quarter [...]
Hiscox shares jump after firm lifts buyback despite wildfire losses August 6, 2025 Shares in Lloyd’s of London insurer Hiscox jumped more than 10 per cent in early deals this morning after the company hiked its share buyback. Overall, the group posted a slight fall in interim profit as wildfire claims hit its reinsurance division, but the group increased capital returns on the back of substantial investment income. [...]
UK insurance sector calls for more adverse weather protection July 24, 2025 The UK insurance sector has called for more adverse weather protection as a “challenging new era” places increasing pressure on insurers. In the first quarter of 2025, British insurers paid out a record high of £226m in weather-related claims, surpassing the previously held record of £67m in 2022. Industry paid an eye-watering £585m for weather-related [...]
FCA urges UK insurers to improve motor insurance claim handling July 22, 2025 UK insurers have been urged to improve their claim handling skills after the UK’s financial watchdog found “concerning evidence” of poor practice in the motor insurance market. The Financial Conduct Authority (FCA) said hikes in motor insurance premiums were down to how claims are handled by insurers, adding that “insufficient management information” was resulting in [...]
UK farmers hit by drought turn to insurance July 21, 2025 As the UK has experienced a relatively hot Summer so far, it is the farmers who are in crisis mode fearing the effects of drought
A UK captive insurance regime will make Britain more competitive July 16, 2025 The Chancellor used here Mansion House speech yesterday to announce that she is creating a new domestic framework for captive insurance, aiming to attract companies back from offshore financial hubs and reinforce Britain’s status as a global leader in the insurance industry, says Chris Lay Yesterday, as part of the UK Chancellor’s Mansion House speech, [...]
Firms spring into gear as Reeves green lights UK captive insurance regime July 15, 2025 The UK government has greenlit a captive insurance framework with Rachel Reeves set to reveal the decision in her Mansion House speech this evening
Sajid Javid joins calls to replace ‘unfit’ NHS with insurance model July 14, 2025 Former health secretary Sajid Javid has joined calls for a major overhaul of the National Health Service (NHS) that would see it replaced by a universal social insurance-based model. Javid said a “serious conversation with taxpayers” about how to fund the institution was “long overdue,” throwing his weight behind a paper by Policy Exchange which [...]
Close Brothers to scale back lending after motor finance hit July 9, 2025 Close Brothers is set to scale back its premium finance division in a bid to cut costs and focus on its offerings for businesses. The lender said on Wednesday it would begin to prioritise insurance products designed for businesses in its commercial lines, which the firm said offered better risk-adjusted returns and long-term growth potential. This will [...]