Axa's Brendan McCafferty on the consequences of the discount rate
There must be a better time to start your role as the CEO of an insurance company. A few weeks into the job, I arrived at work on a Monday morning knowing a decision had just been made that would simultaneously hike premiums for millions of motorists and businesses across the country and create a significant impact on insurer profits.
The industry, through the Association of British Insurers, has been lobbying hard since December when the proposal to change the discount rate resurfaced – after a prolonged period of stability – a
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