Financial / Results – Page 45
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NewsLycetts’ pre-tax profits jump up by 154% in 2021
Investing in people, operations and infrastructure has supported this growth trajectory, says chief executive
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NewsFlood Re reports £46m in GWP for 12 months to March 2022
The government-backed scheme hopes to build on the success of its ’Build Back Better’ initiative in the coming year
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Sponsored ContentRate increases must be expected as inflation bites – Pearson Ham
Stephen Kennedy, director of insurance pricing at Pearson Ham, explains recent pricing movements in the motor and home insurance markets
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NewsRising cost of living provides ‘opportunity’ for industry to tailor products – Guidewire Software
Ever increasing inflation is causing consumers to choose between putting food on the table or buying insurance - however, the industry is in a key position to adapt products to suit changing demands
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NewsMotor premiums see 7.8% increase during first five months of 2022 – Consumer Intelligence
Telematics products, meanwhile, have fallen in popularity as insurers plot their new pricing strategies
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NewsBiba’s increased membership pushes 2021 turnover up by 19%
The trade body’s ethos of being ’knowledgeable, approachable and passionate about brokers’ remains unchanged
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AnalysisInterest rate rises fail to deter lenders from broking investments
Despite being viewed as ‘neither very hot nor very unpopular’ by private equity firms, the broking community is still ‘the darling of the financial services sector’ when it comes to M&A, say experts
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AnalysisBriefing: MGAs still bullish as capacity crunch bites
Tentative insurers are keeping capacity close to home, but relearning to share the pen with MGAs could answer brokers’ prayers in providing innovative propositions for evolving client risks
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AnalysisIn Focus: Why is there increased investor appetite for insurtechs from outside the insurance industry?
Three industry experts explore why non-insurance sector businesses are looking to buy into insurtechs
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NewsKonsileo secures £4.7m series A funding ‘to shake up the world of commercial broking’
Chief executive plans to use new funding to recruit more UK insurance brokers ’and continue to shake up the world of commercial broking’
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NewsMotor insurance premiums set to rise 2% this year ahead of 18% uptick in 2023 – EY
Professional services firm predicts that the UK motor sector’s net combined ratio will be loss-making in 2022 and 2023 and that the ‘environment will be tough’
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AnalysisBriefing: Are insurtechs sustainable?
Industry voices are flagging concerns that insurtechs are not working to solve current industry challenges – but what is driving these discussions and can anything be done to change this view?
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AnalysisProperty insurance falls to underwriting loss despite drop in claims
Insurance DataLab takes a deep dive into the UK’s property insurance sector, exploring market trends and pinpointing improving insurers
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NewsThe Clear Group secures new investment
The investment represents a ’real endorsement’ and allows the next phase of the group’s strategy to be put into action, says group chief executive
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News‘Incumbent’ that brokers and insurers work together to combat underinsurance – Allianz
Industry has ‘a huge responsibility’ to mitigate inflation-driven underinsurance and ensure that certain risks do not ‘become uninsurable’, says chief executive
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NewsFCA slams JLT Specialty with multimillion pound fine
Insufficient controls by the firm meant that ‘money flowed into the pockets of corrupt officials’, says the regulator’s director
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NewsBrokers must look to their business models to combat costs of regulation
Compliance expert explains that ‘a lot of brokers don’t understand the value of their time’
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NewsWorldwide delegated underwriting authority groups’ revenue increases by 21.7% – Insuramore
The consultancy predicts global revenues are likely to pass £16.5bn by 2023
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AnalysisBriefing: More insurers need to think outside the box to mitigate cost of living crisis
Insurers must step into the breach once more to support consumers – but how many are actually willing to reduce monthly installment plan premium uplifts?
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NewsConsumers increasingly shop around for insurance as inflation squeezes UK’s finances – CII
Many customers have ‘never seen prices increase at this speed’, says director
