Discount rate
MPs call for ‘evidence-based’ revision of discount rate
If the government revises the discount rate next year it should carefully consider the impact on the disadvantaged, a Parliamentary committee has warned.
Analysis: Review of the year 2017
The past year has been a stormy one for the insurance market – and not just in terms of weather: the discount rate saga and the insurance premium tax hike helped propel motor premiums to stratospheric highs. Industry figures see clearer skies, however,…
Pricing pressure and aggregators will hurt company market in 2018, says Fitch
Intense competition and increasing use of price comparison websites will continue to pressure insurers’ earnings in motor and household insurance, Fitch has warned.
Motor premiums to fall next year from Ogden and whiplash changes: EY
Motor premiums could fall in 2018 as an expected change in the Ogden rate could reverse some of the losses faced by insurers, EY said.
Jelf & Bluefin's Phil Barton on getting back to organic growth
Brokers must get back to their roots of being pillars in the community to achieve organic growth, says Phil Barton, group CEO at Jelf.
Allianz UK faces £63m Q3 blow from losses and Ogden
Allianz UK faced a combined £63m hit in the first nine months of the year from a series of large losses and the residual impact of the Ogden rate revision.
This Week in Post: Winter wine and Amazon advances
This week I attended a briefing on hostage negotiation skills organised by an underwriting association and a wine tasting hosted by a rehabilitation provider.
Ageas UK sees profit again hammered by Ogden
Ageas UK saw its pre-tax profit fall by 56% as it said it still had €5m (£3.8m) to pay in relation to the Ogden rate change.
Q&A: Mike Brown and Alistair Kinley, BLM
The insurance industry is currently battling with a multitude of uncertainties: Brexit, Ogden, and the impact of technology. Mike Brown, senior partner, and Alistair Kinley, director of policy and government affairs, BLM, spoke to Post about how those…
Hastings sees GWP growth continue into Q3
Hastings has seen a 25% spike in gross written premiums over the course of the year, up to £714m from £572.8m for the same period in 2016.
This Week in Post: Red suns and robots
A Blade Runner mist engulfed London on Monday as storm Ophelia blew Saharan sand into the capital. Struck by the eerie atmosphere, City workers tweeted pictures of the yellow sky, which an Irish commentator promised to look at “as soon as our houses land…
Brightside's Mark Cliff on the impact of the discount rate for brokers
Insurers have been vocal about their feelings about the discount rate but Mark Cliff, executive chairman at Brightside Group, notes this has also affected brokers, who have been at the sharp end of market turmoil.
This week in Post: storm warning
Almost 30 years ago to the day, I had my first introduction to the power of Mother Nature and the world of insurance as the 'Great Storm' of October 1987 swept across the UK.
Industry needs to educate public on 'big ticket' Ogden decision, City Minister warns
Industry needs to join government in educating the public on the change to the Ogden discount rate, City Minister Stephen Barclay MP said.
Ogden reform drives car insurance price drop, but fall 'will be short-lived'
Car insurance prices have fallen by an average of 1.1% in the third quarter of 2017, the largest reduction in more than three years, however the effects will be short-lived, analysts said.
Top UK insurers 2017
Hit by a negative discount rate, the top 100 UK insurers reported a combined underwriting loss last year. What other challenges has the market faced?
Motor MGA Hawkwell in run-off following Ogden rate change
Exclusive: Motor managing general agent Hawkwell could close its doors at the end of March as a result of lost capacity from the Ogden rate changes.
Interview: Tulsi Naidu, Zurich
Almost a year into her role Zurich UK CEO Tulsi Naidu talks to editor Stephanie Denton about the events of the last 12 months and how the insurer is progressing with its transformational programme.
Analysis: Rate revision: changes to Ogden
Insurers consider the impact of the proposed U-turn on the Ogden rate
Ogden reform could see fewer shocks to industry
Ogden reform could see fewer shocks from discount rate changes in future, AM Best said.
Week in Post: Cancelled flights, closed doors and canned ads
My dad was one of 400,000 passengers affected this week by air traffic control delays, bad weather and a backlog in employee holidays for the delay, which lead to budget airline Ryanair cancelling 50 flights a day for the next six weeks.
The ABI's James Dalton on why the discount rate is not a job done yet
Insurers scored a victory on the discount rate but still have work to do, says James Dalton, director for general insurance policy at the Association of British Insurers.
Blog: Don't turn your back on fraud-busting tech
Fraudsters never rest and Lior Koskas, managing director of Digilog UK, urges the industry to remain open to sharing in the latest risk identification tools and continually review procedures for fraud.
Ogden decision may not curb reinsurance rate rises, says LV's Treloar
The government’s Ogden decision may not curb expected reinsurance pricing rises, LV general insurance managing director Steve Treloar has said.