Insurer shares climb despite BI payout predictions

Stock market performance

Some of the Insurers involved in the Financial Conduct Authority’s business interruption test case saw share prices increase following the verdict, despite participants being told to pay out for some claims.

In Tuesday’s High Court Judgement, which is subject to appeal, Lord Justice Flaux and Mr Justice Butcher, ruled partly in favour of the FCA and policyholders on key themes. This means some businesses

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Insurers face margin crush unless premiums are hiked

Data analysis: A sustainable margin recovery looks increasingly challenging for insurers with premiums needing to increase in real terms to prevent any erosion after a tripling of costs to 10.9% of premiums last year from 3.5% in 2022.

Jason Harris, QBE

Having spent a quarter of a century working in insurance, Jason Harris, who joined QBE as chief executive for international in October 2020, is a familiar face in the sector.