Financial Ratings – Page 11
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NewsCredit insurers saved from colossal Covid losses due to state support
Ratings agency predicts that demand for trade credit insurance will increase in the medium to long-term, as SMEs and corporates realise the value of cover in the wake of Covid-19
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NewsNorthern Irish brokers Abbey and Autoline merging
Continued consolidation seen in the province’s broker market
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NewsGeneral insurance direct written premium set to fall by 1.7% in 2020 due to Covid-19
The lasting effects of the coronavirus crisis means that GI DWP will not return to previous levels until beyond 2023, predicts analytics company
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NewsAgeas sees COR improvement as result of reduced motor claims
Ageas remains committed to its staff, stakeholders and customers despite the uncertainty of the pandemic as it sees improvements in its COR, as well as GWP in household
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NewsAviva commits to provide risk management support to brokers in wake of pandemic
The insurer’s chief sales and marketing officer says this resource is particularly pertinent for brokers looking to help their hospitality sector clients
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NewsAston Lark aims to expand London Market reach with new acquisition
The Goldman Sachs-owned broker has landed its second deal of the week
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IT InterviewAviva’s H1 personal lines figures are a ‘disappointing result in every respect’ says Holmes
The insurer’s UK general insurance chief executive also admits that Aviva is paying some Covid-related business interruption claims where they fall under broker wordings and coverage is clear
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NewsBennett Christmas buys PI broker
The acquisition is Bennett Christmas’s second since becoming an Ethos partner
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NewsBlanc says there ‘may be better owners’ for Europe and Asia business amid UK investment
In a briefing call with journalists, Blanc outlined a three-pronged strategy to unlock Aviva’s ‘enormous potential’, including being ‘selective about where we participate’
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NewsCovid-19 pandemic impacts AXA’s underlying earnings
Despite the Covid-19 pandemic AXA said its “well positioned” as a group and remains resilient in these challenging circumstances
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NewsRSA to slash 300 jobs as part of cost-cutting drive
Jobs cuts are part of a range of measures the insurer is proposing to improve efficiency
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NewsAviva takes substantial hit from Covid-19 claims
Pandemic-related claims had a significant impact on the insurer’s interim results
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NewsDirect Line exploring inorganic growth via partnerships and acquisitions
The insurer’s H1 results for 2020 were better than expected as it reinstated its dividends, and now it plans to expand its reach through partnerships and acquisitions
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NewsHastings ‘very pleased’ with share capital offer from investors
The deal recognises the ‘inherent value in the company’ adds Hastings’s group chief financial officer
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Online onlyPlunging motor claims sees significant improvement in Direct Line loss ratio
The insurer’s attritional loss ratio in motor improved by 17.9 percentage points therefore it has reinstated its dividends that it previously halted in April, however it remains cautious given the uncertainty of the pandemic
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NewsFCA Covid test case ‘difficult time for insurers reputationally’ - Allianz chief Jon Dye
Allianz chief exec said he understood why brokers and customers might argue that the business interruption cover is there
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NewsAllianz Holdings half-year results bolstered by LV=GI
Allianz Insurance saw fall in operating profit during the first half of the year
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NewsPen Underwriting secures capacity deal to write 20% more premium for solicitors’ PI
The £100m deal started on 1 August
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Online onlyHiscox hints at appeal should FCA test case go against it
The company is one of many inurers battling policyholders who want a pandemic-related business interruption payout
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NewsAston Lark snaps up employee benefits broker
The acquisition boosts the brokers employer benefits offering
