Financial Ratings – Page 8
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NewsMoody’s affirms Hyperion debt rating in wake of A-Plan deal
The ratings agency says the acquisition of A-Plan will “improve” Hyperion’s business profile
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NewsMGA Dual to deploy its own underwriting capital
Hyperion Insurance Group chief executive David Howden described the move as ‘a game-changing moment’
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NewsInsurers ‘deeply reviewing’ wordings as a result of ‘hot topic’ test case ruling
Gallagher Bassett’s chief client officer in the UK discusses some of the fallout following the FCA’s test case judgment
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NewsRising insurer and broker confidence on the rise, despite pandemic regulatory road bumps
The third quarter has seen a marked shift in insurer confidence compared to the two previous quarters
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Breaking NewsStructural defects insurer enters administration as FSCS steps in to save policyholders
Buildings guarantee insurer has been struggling with the volume of high-value claims in recent months
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NewsFlood Re’s credit rating upgraded
Credit rating agency maintains that the reinsurer’s ability to handle large claims warranted an upgrade
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NewsA-Plan snaps up telematics broker, with more acquisitions in the pipeline
A-Plan Group has made its first purchase since announcing its takeover by Hyperion
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NewsMotor premiums rise by 0.1% as Covid measures are eased
However, data insight firm believes that prices in this market will fluctuate until the coronavirus pandemic comes to an end
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NewsFCA test case appeal confirmed for Supreme Court
However Ecclesiastical and Zurich have bowed out, while Qatar Insurance Company Europe has been denied the right to intervene
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NewsNot-for-profit broker SEIB buys ‘ethical’ intermediary
Acquisition target WRS specialises in the social welfare sector
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NewsHyperion receives long-term equity investment to boost M&A war chest
The equity investment from European investor Hg values the business at $5bn
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NewsFCA files ‘leapfrog’ appeal application to the Supreme Court for BI test case
Despite believing that the judges’ verdict earlier this month was clear, the regulator has filed its application as a precautionary measure
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NewsInsurtech Ripe posts 16% revenue rise
It is the insurtechs twelfth consecutive year that it has reported a rise in its financial results
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News AnalysisArdonagh EBITDA up 30% as specialty business drives growth
Chief executive David Ross said the result was testament to the broker’s resilience in the face of Covid-19, aided by the group’s diversified portfolio
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NewsClear Group buys Brokerbility Holdings
The deal marks the broker’s biggest acquisition to date - it will now manage around £200m in premiums and employ more than 400 staff
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NewsInsurers to suffer dip in short-term profitability due to FCA’s price walking measures
However, credit ratings agency predicts that in the longer term, retention will increase
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IT InterviewCovid-inflated credit hire claims is ‘a big issue' for insurers, says law firm partner
The Covid-19 pandemic may be boosting income opportunities for credit hire firms – accumulatively, this could end up being a big financial hit for insurers
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NewsLloyd’s taken off Fitch ratings watchlist
Fitch has now affirmed Lloyd’s AA- rating and removed them from the Ratings Watch Negative list, saying their rating is now stable
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NewsHowden to buy A-Plan Group as it aims to expand its retail broking reach
The combined group will have a GWP of £4bn
