Howden seals £500m support to turn tech start-ups into underwriters Insurance Howden has secured £500m of delegated underwriting capacity backed by a group of Lloyd's of London firms for a newly launched division that aims to turn tech start ups into underwriters.
Insurers’ £360bn pension plan bonanza could spark government bonds sell-off Insurance It is estimated that the UK private sector defined benefit pension plans could transfer up to £360bn of assets to insurers over the next five years, which would see a £100bn sell off in government bonds.
Vulture funds circle for almost a quarter of Stonegate pubs hospitality Vulture funds are reportedly eyeing a portfolio of 1,000 British pubs as Stonegate grapples with rising interest rates on a multibillion-pound debt pile. US distressed-debt investors Cerberus and Morgan Stanley Real Estate are among a host of others to have submitted bids for almost a quarter of the pub estate owned by Stonegate. In a [...]
ABI urges Chancellor to cut £7bn tax on insurance policies October 15, 2023 The Association of British Insurers (ABI) has called on Chancellor Jeremy Hunt to cut the tax levied on insurance premiums.
MG motors tops £1bn UK sales as affordable EVs popular with Brits October 15, 2023 The Chinese-owned car brand MG Motors reportedly made over £1bn in UK sales last year as drivers were drawn to its affordable electric cars. MG’s revenues rose 122 per cent to just over £1bn attributing the rise to “impressive sales” of its EVs in 2022, according to a news report in the Times. Pre-tax profits [...]
Car insurance premiums hit record highs as claims costs surge October 13, 2023 Car insurance premiums have hit record highs as insurers battle rising claims and heightened costs related to insuring electric vehicles, according to new data.
CMA shines a light on legal risks in collaborating over climate change October 12, 2023 The Competition and Markets Authority (CMA) today released guidance to provide clarity about competition laws on environmental sustainability and climate change.
Aviva ‘more likely to engage in M&A than be a target’, says analyst October 12, 2023 Aviva is unlikely to be a takeover target, despite reports of a potential deal to buy the firm last week, according to an analyst.
Lloyd’s of London estimates global economy could lose £4 trillion to extreme weather October 11, 2023 Lloyd’s of London has estimated that global economic losses could reach £4 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages. The research, conducted in collaboration with the Cambridge Centre for Risk Studies, said social and economic changes are affecting the impact [...]
Lloyd’s set to resist pleas for direct compensation over slavery role October 11, 2023 Lloyd's of London is resisting calls to make direct financial reparations over its role in the slave trade.
