Financial Ratings – Page 2
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FeaturesBriefing: Covid costs now hitting reinsurance bottom line
Covid-19, Solvency II and ESG factors will all be influencing global multiline insurers’ balance sheets, says S&P Global Ratings
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NewsInsurers are failing to use their influence to fight climate change - ShareAction
Some commentators believe ’the insurance industry is the single most annoying part of this whole climate puzzle’
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NewsUK insurers warned of big challenges and put on ‘negative’ outlook
AM Best places UK insurers on negative outlook amid major challenges
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NewsAM Best unveils plans to rate delegated authority providers
Plans for a financial rating regime for MGAs has been welcomed by the market, but doubts remain that firms will be willing to open their doors
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NewsHome insurers will benefit from pandemic claims trends in 2021 – Fitch Ratings
However, credit rating agency director believes ‘the pricing environment in the household sector’ will ‘remain weak’
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NewsMotor claims costs predicted to rise due to complex repairs – Fitch Ratings
The ‘one-off benefit’ from reduced claims frequency in 2020 may continue for the first half of this year too, however it won’t be as large as last year
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NewsCovid recession could lead to direct claims against insurers under Third Parties Act
Law firm solicitor emphasises that ‘there is potential for increased claims’ against insurers if their policyholders become insolvent
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News2021 set to be ‘less profitable’ year for insurers – Fitch Ratings
Credit ratings agency identifies the key factors that are contributing to market outlooks in the UK
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NewsFCA fair pricing report will ‘reduce profitability’ for insurers – Fitch Ratings
Furthermore, the home insurance market will be more affected than motor insurance as around ‘80% of premiums comes from renewal business’
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NewsQ Underwriting secures capacity to launch new property and package division
A new property owners product will be available for broker partners from February
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NewsHowden Group records 6% organic growth in year to September 2020
Chief executive believes ‘the opportunities that lie ahead for Howden Group are extraordinary’
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NewsMarkerstudy Group reveals £200m investment
Markerstudy Group will use this investment to deliver a sustainable growth programme through a combination of organic and acquisition-led expansion
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Online onlyAllianz eyes carve up of major part of Aviva’s continental business
Allianz is eyeing a carve up of Aviva France, bagging the non-life business, according to reports. The life business would be hived off to its partner in the consortium, Athora, Le Figaro reports. Athora would take the lion’s share of the business, as life makes up £387m operating profits ...
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NewsCovid-19 impact on insurance recruitment revealed
Recruitment stats confirm economic impact of pandemic past year, but more optimistic picture painted for 2021
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NewsAviva staff to be allowed flexible working on a permanent basis
Insurer Aviva is to shift to permanent homeworking for its staff
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NewsUK insurance market shows ‘divergence’ with London Market prospering while regions suffer
Business interruption will also remain a key risk for 2021, especially for insurers that have non-standard policy wordings, advises ratings agency
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NewsCar insurance premiums fall 6% amid lockdown - Confused.com
Fewer journies and consequently claims saw premiums decline significantly last year
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NewsGallagher buys Bollington Wilson
International broking firm Gallagher has kicked off the first major M&A activity of the year
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NewsIrish insurer offers partial premium refunds to some pub owners over BI confusion
However, it is reported that less than 10 pubs will be receiving this support
