Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural catastrophes have been low in recent years, including in …
London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc’s insurance watchdog said. Insurance specialists say some insurers have been shopping around for jurisdictions which …
Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. The lure of products promising to save …
Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe’s single market, according to a Reuters survey of firms employing the bulk of workers …
Global reinsurance rates are likely to fall by up to 7.5 percent at Jan 2018 renewals due to strong competition, despite the impact of Hurricane Harvey, ratings agencies said on Tuesday. Reinsurers, which help insurers shoulder the burden of large …
Insurers in Britain face crunchtime within weeks if the government and the European Union do not allow millions of cross-border policies to continue to run undisturbed beyond Brexit. While Britain is not due to leave the bloc until March 2019, …
Banks are increasingly turning to insurance to protect their capital from “operational risks” like cyber attacks and rogue traders, and insurers say they can help safeguard lenders by providing an extra layer of expertise. After a spate of expensive court …
British insurer Aviva reported an 11 percent rise in first-half operating profits to 1.47 billion pounds ($1.94 billion) on Thursday, boosted by its general insurance and fund management units and sending its share price higher. Analysts in a company-supplied poll …
Existing European Union insurance policies should stay in place after Britain leaves the bloc because the process of dividing them into British and EU contracts would be too complex, Lloyd’s of London Chief Executive Inga Beale said. The Lloyd’s of …
British insurer Aviva plans to launch a new product to cover small and medium-sized businesses against cyber attacks later this year as part of an expansion of its specialist insurance division, its chief executive for UK insurance said. Aviva, which …
