Financial Ratings – Page 13
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NewsInsurtech honcho in final stage of capital investment raise
Durham-based reverse comparison auction insurtech honcho is in the final stages of its 2019-2020 £2.25m investment raise.
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NewsPIB Group reports a 50% improvement on its adjusted EBITDA between 2018 and 2019
The broker’s chief financial officer says ‘we have carved ourselves a unique position in the market’
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NewsZurich offers full refund to single trip travel customers hit by Covid cancellation
Customers who haven’t claimed should be able to get a full refund
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NewsCovid crisis fails to dent Jensten M&A appetite
The broker group plans several more acquisitions this year
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NewsLemonade valued at $1.6bn ahead of IPO
But this still leaves Lemonade with a valuation lower than the $2bn investors valued the company at last year
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NewsPost-Covid world promises productivity revolution
Simply measuring ’bum-on-seat’ time will no longer suffice in the post-lockdown working world
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NewsWimbledon boss confirms the championship will not have pandemic insurance in 2021
The All England Lawn Tennis Club warns that although pandemic insurance has protected the Wimbledon tennis championship this year, finding pandemic insurance for 2021 is likley to be ‘impossible’…
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NewsMarkerstudy confirms that board directors have taken a 50% pay cut
Markerstudy announces its latest step to stay afloat while battling the financial fallout of the Covid-19 pandemic.
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News AnalysisArdonagh downgraded following £2bn refinancing deal
But rating agency Fitch says it expects the broking group to continue to improve its EBITDA margin amidst the potential for increased cost savings as a result of its latest round of acquisitions, as well as a return to ’healthy’ free cash flow
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NewsArdonagh tops debt above £1.8bn amid new M&A hunger
The broker also announced £300m in finance for its acquisition pipeline
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NewsUK personal lines market set for significant shrinkage following Covid-19
And the GlobalData research predicts it will take until 2022 for the market to recover lost GWP
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NewsCovid-19 hits Saga’s travel insurance sales but motor and home retention improves
The business has also sold 533,000 three-year fixed-price policies, with more than 60% of direct new business customers choosing this product
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NewsFormer RSA Ireland chief financial officer disqualified and fined €70,000 for under-reserving breach
The regulator’s investigation found that the senior leader had been involved in the insurer understating its claim reserve estimates by €29m
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NewsWhite confirms Pukka to hand in Gibraltar licence at end of July
The move was designed to ‘rationalise the cost base’ of the business
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NewsHome insurance market set to contract by 1.4% as a result of Covid-19
Data and analytics firm predicts that gross written premiums within the UK home insurance market will drop to £5,935 in four years’ time
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NewsMore than a third of EMEA insurers face negative ratings action due to Covid-19
The ratings agency reviewed its portfolio as a result of the crisis, resulting in ratings actions being taken against 84 insurance groups , with downgrades accounting for 12% of actions
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IT InterviewAlchemy Crew seeks to uncover ‘true issues and gaps’ in insurance sector growth strategies
Fine tuning growth strategies for the insurance industry post-pandemic will be the key to growth, according to Sabine VanderLinden, co-founder at Alchemy Crew
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NewsBlanc blasts poor insurer communication over Covid BI exclusions
Industry hasn’t explained the reasons for pandemic cover exclusion properly, the Aston Lark chief said
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NewsLV= considering sale of remaining business units
The confirmation follows press speculation that the mutual insurer was considering a takeover
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NewsSearchlight completes GRP deal as Mike Bruce takes the helm
Private Equity firm takes majority stake in the business
