Discount rate
LV reports £49m GI operating profit during H1 2017
LV has reported a strong growth in its general insurance operating profit which went up to £49m in the first half of 2017, compared to £22m in the same period last year.
Ageas' Andy Watson's wish list for returning MPs
As goverment returns to business, Andy Watson, CEO of Ageas UK, reminds MPs that there are still three major areas of policy affecting insurance that need to be properly addressed before insurers can begin to control and then reduce customer premiums.
Covéa's Lisa Meigh on why the apprenticeship levy is not just another tax
Many companies have written off the apprenticeship levy that came into force in April as another tax but Lisa Meigh, director of HR and Learning at Covéa Insurance, sees a pot to further future generations of insurance workers.
Ogden decision to curb reinsurance pricing rises
Reinsurance pricing will only increase modestly at January renewals as a result of the government’s Ogden announcement.
This Month in Post: Discount, diversity and data
There was some good news and some bad news this week for the insurance industry.
LV commits to passing all Ogden savings onto motorists
LV has become the first insurer to commit to passing 100% of savings from the government’s Ogden legislation to motorists.
Aviva could see boost of up to £200m from Ogden discount rate reform
Aviva stands to make a one off gain of between £100m and £200m as a result of any future discount rate revision to 0-1%.
Insurers rejoice at new Ogden formula on Twitter
Insurers took to Twitter to express their satisfaction with the new mode of calculation for the discount rate, which the government unveiled today.
Live blog: Ogden discount rate reform
Follow reactions to the draft reform to the Ogden discount rate reform in our live blog.
Industry welcomes draft reform on Ogden discount rate
Insurers have welcomed government plans to alter the way the discount rate is set in future.
Top 30 European Insurers 2017 Ranking: A mixed year for insurers
Market conditions for European insurers are extremely challenging, with companies facing a wide range of difficulties. Some have had to restructure their books of business because of poor results in the past, although their ability to turn around…
Analysis: Repair costs
The questionable practice of marking up at-fault repairs continues, despite resistance in some quarters. Will this status quo ever be challenged?
Motor premiums to rise while government delays Ogden consultation feedback
The Ministry of Justice’s decision to delay the Ogden consultation feedback may push motor premiums up.
Further Ogden hits anticipated but whiplash claims falling, says Admiral
Admiral is anticipating further cost pressures as a result of the change to the discount rate, but has confirmed that whiplash claims are falling.
Admiral reports slight rise in pre-tax profit despite Ogden impact
Admiral has reported a slight jump in its pre-tax profit during the first half of 2017, despite an earlier hit to profits of £150m from the Ogden rate change.
ERS sees profits plummet 280% from Ogden hit
ERS has seen a 280% fall in profits as the company suffered a hit from Ogden.
Zurich UK takes £182m battering from Ogden change
Zurich UK took a £182.1m hit in H1 as a result of the change to the Ogden discount rate.
Ageas faces further Ogden hit of up to €15m in second half
Ageas will see a further hit of up to €15m (£13.5m) in the second half of the year from the Ogden rate change.
Ageas UK sees profits fall after €31m Ogden hit and declining motor COR
Ageas UK continued to be hammered by the impact of the Ogden rate changes, with profits falling 73% in its H1 result.
MoJ declines to give date for release of Ogden consultation feedback
The Ministry of Justice cannot give a date for the release of the discount rate consultation feedback.
Ogden change sees Esure's reinsurance costs rise by a third
The change to the Ogden discount rate added a third to the cost of Esure’s reinsurance, company results have revealed.
Interview: Anthony Baldwin, AIG
Eighteen months into his role, Anthony Baldwin, CEO of AIG Europe and AIG UK, talks to Stephanie Denton about restructuring, co-creating and being the first insurer to move to Luxembourg.
Direct Line results strengthened by weaker than expected Ogden hit
Direct Line’s strong H1 results were in part helped by the insurer taking a smaller hit from the change to the Ogden rate than expected.
Ogden decision to be unveiled this week
The government’s response to the Ogden discount rate consultation will be published on Thursday.