Wildfires put pressure on insurance premiums as blazes surge August 6, 2021 Destructive wildfires across the globe have caused insurance premiums to rise in value of claims and is set to continue as trends show wildfires are more likely to occur, according to British insurance company Chaucer. The insurance and reinsurance firm discovered US Wildfires have become an increased occurrence since the 2000s. Over the last 15 [...]
Travelling abroad has changed August 6, 2021 We all know life has been turned upside down over the past eighteen months. That’s nowhere more true than in travel, with border restrictions across the world designed to stop the spread of the Covid-19 virus and new variants. As we exit lockdown, travel is once again opening up. But that doesn’t mean it’s all [...]
Treasury launches £750m insurance scheme to cover Covid-related live event cancellations August 5, 2021 Costs associated with the cancellation of festivals, conferences and other live events due to Covid-related restrictions will be covered almost entirely by the government under a new £750m scheme. The Treasury will team up with Llloyd’s of London to deliver the Live Events Reinsurance Scheme, which will give companies the option of purchasing cover from [...]
Daily Mail owner to sell insurance business for £1.4bn, clearing the way for take-private bid August 5, 2021 Daily Mail owner DMGT has today confirmed that it will sell its risk insurance business RMS to Moody’s for £1.4bn, the first step in a bid to take the group private. Last month it was revealed that the Rothermere family was considering a bid for a slimmed-down version of DMGT. An £810m offer is contingent [...]
Johnson and Sunak call for investment ‘big bang’ in UK to aid recovery August 5, 2021 The prime minister and the chancellor have called on the UK’s institutional investors to plough more capital into UK assets to ignite an “investment big bang” that drives an economic recovery from the pandemic. In a joint letter with Rishi Sunak, Johnson said the UK’s institutional investors should “seize the moment” and use their “hundreds [...]
Pensions group Royal London sees managed assets hit a record £153bn high August 5, 2021 Pensions and life insurance firm Royal London’s assets under management have hit a record high at £153bn in the past six months. Climbing higher from £148bn in late December, the group put the growth down to positive market movements and net inflows in the six months to 30 June. The group pulled in profit before [...]
Legal & General profits over £1bn in a return to pre-covid levels August 4, 2021 Legal & General Group today reported strong financial results for the first half of the year, as the firm remains “confident in our collective and successful emergence from the pandemic.” The London-based asset manager saw a 14 per cent growth in operating profit to £1.1bn, compared with £946m for the same period in 2020. It’s [...]
Insurer Direct Line’s first-half profits rise as pandemic restrictions ease August 3, 2021 Insurer Direct Line has today reported a rise in its earnings for the first half of the year, despite a difficult car insurance market, which its home businesses offset. The company reported an operating profit of just under £370m for the six months ended June 30, an increase from £265m a year earlier. Direct Line [...]
Mitigating litigation risk: The impact of corporate social performance factors August 3, 2021 Much has been written on the merits of ESG investing strategies and their ability to deliver comparable, if not superior, performance to traditional benchmarks. A majority of institutional investors are motivated to employ ESG investing strategies because they believe ESG will improve risk adjusted returns1, yet the circumstances in which ESG leads to better outcomes [...]
Societe Generale returns to profit as retail banking recovers August 3, 2021 French bank Societe Generale swung back to profit in the second quarter of this year driven by a rebound in its retail banking arm. The lender registered net income of €1.4bn in the second quarter of 2021, up sharply from a €1.2bn loss in the same period the year before. Read more: Standard Chartered profits [...]