Torrential rain and gale force winds battered northern Britain on Wednesday, cutting power to thousands of homes and forcing some to evacuate flooded streets in the third major storm in a month. The Environment Agency said Britain had faced an …
Insurers are facing some of the costliest British floods on record as large parts of northern England, already inundated, brace for more heavy rain. Accountants estimate that insurers are currently facing a bill of up to 1.5 billion pounds ($2.22 …
Prudential Plc, Aviva Plc and Legal & General Group Plc are among large U.K. insurers to win Bank of England approval of the models they use to calculate capital requirements under the European Union law known as Solvency II. The …
Direct Line Insurance Group Plc, the UK’s largest car insurer, said pricing for its motor business increased in the last two quarters because of higher claims. Rates for car cover rose 8.4 percent in the three months through September, the …
A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The jump in the insurance premium tax (IPT), to …
The professional indemnity and directors & officers insurance sector has grown constantly since 2012 and is expected to continue the upward trend until at least 2019, according to the findings of a new report by London-based business intelligence company, Timetric. …
Direct Line Insurance Group plc reported 2014 pretax profit that missed analyst estimates as the British home and car insurer wrote less premiums. Pretax profit for continuing operations rose 12 percent to 456.8 million pounds ($702.8 million) in the year …
At a time when the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers are using developments such as telematics, or social …
Direct Line Insurance Group Plc sold its German and Italian businesses to Spain’s Mapfre SA for €550 million ($700 million) as the company pares back its international operations to cut costs and pay a dividend. The U.K.’s biggest home and …
Stockbrokers involved in the planned stock market listing of British insurer Direct Line reported good interest from private investors in London’s first big retail share offering for six years, although some potential investors are unconvinced. “The appetite has been really …
