Tag Archives: insurance
UK motor insurers’ underwriting results rebound 14%
A 10% rise in gross written premiums failed to put UK motor insurers in the black during 2011, according to Deloitte. The market experienced “greatly improved financial results in 2011 … Continue reading
Risk manager prominence rising across boardrooms
Risk managers in financial institutions across Europe, the Middle East and Africa (EMEA) are seizing the opportunity created by the financial crisis to demonstrate how they create value and are … Continue reading
Lloyd’s promises sanction against Bribery Act failures
Lloyd’s has issued a further reminder to members that it will punish those who ignore the risks posed by the UK Bribery Act 2010. According to law firm CMS Cameron … Continue reading
My top five headaches for the UK insurance industry
FOR THOSE RUNNING brokers and insurance companies in the UK non-life market, 2012 promises to be a challenging year with reputation topping my list of worries for the industry.
Issues ranging from closure of a £500m tax loophole to how major property exposures can be managed once a decades-old pact to insure buildings at risk of flooding comes to an end; these and more will all vie for directors’ attention alongside the day to day running of businesses typically located at the grudge purchase end of the high street.
With concerns both legislative and market-driven requiring considerable thought, here’s my top five insurance industry headscratchers.
Referral fees – cash in while you can
Understandably the insurance industry reacted negatively to the news, but in the end cold, hard cash did the talking some days later. on 31st May, stock market analyst Collins Stewart was bullish about the prospects of FTSE 100 darling Admiral Insurance precisely because of the LSB’s protectionist stance. Referral fees are to continue and Admiral will carry on earning a tidy sum from them; a fact that won’t have gone unnoticed by the many pension funds with holdings in the motor insurer.
Insurance sector PR spokespeople; Ready, aim, fire!
Like deserters facing a firing squad, the insurance industry’s PR spokespeople took it like brave soldiers in today’s Daily Mail.
