HM Treasury
Seven takeaways for the insurance industry from Labour’s Budget
Chancellor of the Exchequer Rachel Reeves delivered the hotly anticipated first Budget of the new Labour government on Wednesday afternoon. Insurance Post picks out the most eye-catching points for the insurance industry.
FCA launches premium finance market review
The Financial Conduct Authority has launched a review of the premium finance market, alongside the launch of a government motor insurance taskforce.
Lloyd’s names Sir Charles Roxburgh as next chair
Lloyd’s has named Sir Charles Roxburgh as its next chair, with the former Treasury official set to take up the position on 1 May 2025, subject to regulatory approvals.
Big Interview: Mark Bailie, Compare the Market
Mark Bailie, CEO of BGL Group, the owner of Compare the Market, sits down with Scott McGee to talk about the 'bad bank' at RBS, achieving ‘perfect’ price and product comparison, and his plans for the business moving forward.
Make-up of the insurance industry in 2024 revealed
Insurance Post’s 2024 Census shows women have smashed through the industry’s glass ceiling, and most employees are only going into the office on Tuesday, Wednesday and Thursday, post-pandemic.
ABI outlines plan to help Labour achieve green energy goals
The Association of British Insurers has published a 10-point action plan for green investment, matching Labour's green energy plans.
Insurtech UK demands MPs tackle barriers to insurtech growth
Insurtech UK has called on the government to tweak regulation to help start-ups and outlined ways to boost the funding available to scale-up more businesses to Lemonade-like proportions.
How the FCA aims to stamp out toxic workplace cultures
Thomas Beale, partner and head of the bullying and harassment team at Bolt Burdon Kemp, examines how the Financial Conduct Authority’s rules for non-financial misconduct are set to change plus the ramifications for the insurance industry.
Big Interview: Geoff Carter, Sabre
Geoff Carter, CEO of Sabre Insurance, sits down with Tom Luckham to discuss Sabre’s 2023 results, why there’s no such thing as an uninsurable car, and how the insurer plans to do even better in 2024.
FCA clarifies approach to non-disclosure agreements
The Financial Conduct Authority has insisted non-disclosure agreements should not prevent whistleblowers working in insurance from sharing the discrimination or harassment they face with the watchdog.
Sam Woods, Prudential Regulation Authority
In the run-up to a general election Sam Woods, chief executive of the Prudential Regulation Authority, has been clear it will be for the government, not regulators, to ensure insurers invest the dividends of forthcoming solvency reforms in the UK.
Pool Re to adopt more flexible treaty model in 2025
Pool Re members and the Treasury have backed proposals for the government-backed terrorism reinsurer to adopt a treaty model from next spring.
How Solvency UK will impact insurers’ credit quality
Data analysis: Post-Brexit Solvency II reforms look unlikely to make UK insurers more appealing to investors, a Fitch Ratings survey has revealed.
Price of tower block insurance finally slashed
Insurance premiums for leaseholders waiting for combustible material to be removed from their blocks of flats could plummet by up to two thirds following the launch of the Association of British Insurers’ Fire Safety Reinsurance Scheme today (13 March),…
IPT haul helps Hunt fund 2p National Insurance cut
In today’s Budget documents, the Office for Budget Responsibility increased its estimated tax haul from insurance premium tax by more than £370m between 2023-24 and 2028-29.
Why the ABI is getting Snippy on insurance premium tax
Trade Voice: Chris Blackwood, head of communications at the Association of British Insurers, explains the trade body’s efforts to ‘unmask’ insurance premium tax.
Labour promises to rip up red tape for insurers
Tulip Siddiq, shadow economic secretary to HM Treasury, has promised if the Labour party gets into power she will make sure regulation encourages growth and competitiveness in the insurance industry.
Treasury tells insurers to take advantage of Brexit bonfire
Insurers must make the most of the Conservative government ripping up the Solvency II rules and replacing it with Solvency UK requirements, according to Bim Afolami, economic secretary to HM Treasury.
MP highlights loophole in Leasehold Reform Bill
Matt Brewis, head of insurance for the Financial Conduct Authority, has appeared before a parliamentary committee to discuss the Leasehold and Freehold Reform Bill and been challenged by MPs over whether the current crop of rules ensure insurance costs…
Biba demands more detail from government around regulatory scrutiny
The British Insurance Brokers’ Association has asked for more information about how HM Treasury and parliament will keep tabs on whether the industry’s regulators are doing a good job.
Ombudsman expects complaints about hollowed out insurance
The Financial Ombudsman Service is bracing for more complaints next year from consumers who didn’t realise cheaper insurance premiums often result in reduced cover.