Discount rate
Admiral's profit falls 25% as CEO blames 'eccentric' Ogden decision
Cardiff-headquartered personal lines insurer Admiral saw pre-tax profit fall 25% last year after the shock decision by the UK government to reduce the personal injury discount rate to minus 0.75%.
Direct Line profit falls 30% in wake of Ogden rate cut
Direct Line has seen full year pre-tax profits fall by 30% owing to a hit from the discount rate reduction.
March 2017 Post: Census and CII CEO
My one-year-old just started toddling. She was so proud after pushing her walker to the other side of the room that she applauded herself. As a result, she lost her balance and landed on her bum.
Gibraltar insurer withdraws £20m UK motor capacity in wake of discount rate cut
A Gibraltar insurer has become the first to withdraw capacity to a UK managing general agent in the wake of the discount rate cut.
Hastings posts profit and expansion plans despite £20m discount rate hit
Hastings has made a 5% growth in profit despite taking a £20m hit from changes to the Ogden discount rate.
Government to 'urgently' consult on discount rate cut after insurer CEO meeting
The government has said that it will “progress urgently” a consultation on the Ogden discount rate and “carefully consider” all the evidence submitted following today’s meeting between insurers and the Treasury.
QBE looks to move £500m of business to new territory
QBE will move £500m of business, around 20% of its European operation, out of the UK in the wake of Brexit.
Insurers' share prices tumble as profits hit by discount rate changes
More insurers have posted swingeing losses as a result of the discount rate cut.
Insurers to face £3bn bill from discount rate cut
Insurers could face a £3bn bill from the discount rate cut, with individual motor premiums rising by an average of £100.
Industry reacts to discount rate cut
Live reactions from the market to the decision to slash the discount rate (please bear with us as this page can take 30 seconds to load).
ABI hits out at ‘crazy’ discount rate decision, claiming it could affect 36 million motorists
The Association of British Insurers has warned that cutting the discount rate so severely was a “crazy decision” that will affect millions of motorists.
Direct Line hit by £230m profit blow from discount rate cut
Direct Line will see a blow to profits of up to £230m from the discount rate cut, the company said.
Admiral sees profit hit of up to £100m from discount rate cut
The discount rate cut will add between £140m to £175m to Admiral’s claims settlement bill, the insurer said.
This week: Personal injury, fundamental flaws and results
Personal injury took on a new meaning for me this week when I discovered a bruised ankle picked up during a recent paragliding adventure was actually a bad break.
Expected discount rate cut shaves £10m profit from ERS
The expected discount rate reduction has shaved off £10m of profit from motor insurer ERS.
Axa CEO: Discount rate cut could wipe out benefit from whiplash reform
The reduction of the discount rate may wipe out any reduction in premiums that consumers might see from whiplash reforms, the CEO of Axa has warned.
Discount rate change could cost motor insurers £4.9bn
Motor insurers and reinsurers could face reserve charges of £4.9bn as a result of changes to the Ogden discount rate.
ABI loses appeal on discount rate review
The Association of British insurers has lost an appeal to government on the judicial review on changes to the discount rate for personal injury damages.
Lord Chancellor seeking expert panel for discount rate review
The Lord Chancellor is sourcing a panel of three experts to provide testimony on potential changes to the discount rate on personal injury damages.
Discount rate decision could be delayed, warns Kennedys
Insurance law firm Kennedys has cautiously welcomed the government’s research into the personal injury discount rate and warned that the outcome of the paper could delay a decision of whether the rate should change.
Apil: Seriously injured people risk being short-changed in government plans
Severely injured people could face having their damages cut further under government proposals, the Association of Personal Injury Lawyers has claimed.
Discount rate must reflect investor reality, says Kennedys
Discount rate rules should be adjusted to reflect the fact that claimants can claim better returns through investment, according to law firm Kennedys.
New Apil president promises discount rate fight
Newly-elected Association of Personal Injury Lawyers president Matthew Stockwell has marked his debut with a combative speech pledging to resist any increase of the discount rate.
Discount rate proposals attack the 100% compensation principle
Calls for changes to the current approach for setting the discount rate are attacking the principle that injured people should receive 100% of their compensation, David Westcott QC has argued.