UK market News

Beazley Expands Life Sciences Insurance Offering in UK

Specialist insurer Beazley has enhanced its life sciences insurance offering in the UK with the launch of a new policy designed to protect the sector’s small and start-up research & development-focused organizations. This follows the UK launch of Beazley’s internationally …

UK Insurer LV= Says Talks Continue with Number of Parties About Possible Merger

UK insurance company Liverpool Victoria said it remains in talks with a “number of parties” about a possible transaction after Sky News reported it was negotiating a merger with rival Royal London. The company known as LV= “confirms that as …

Londoners Slowly Return to Work After Schools Reopened

Londoners are slowly returning to work in offices, factories and stores after children went back to school at the start of the month. Data compiled by Google show workplace attendance has increased slightly in three of the UK capital’s main …

Major UK Ruling on Business Insurance for COVID-19 Claims Expected Tuesday

Insurers battered by coronavirus are about to find out how much worse the damage could get. A London court is set to rule Tuesday in a case involving about 370,000 policyholders, companies including Zurich Insurance Group AG and Hiscox Ltd. …

Investigators Confirm Passenger Train in Scotland Hit Landslide Before Derailment

A passenger train hit a landslide before derailing in Scotland [on Wednesday, Aug. 12], killing three people, UK rail investigators confirmed Friday. A train track obstruction had been suspected of playing a role in Wednesday’s derailment near the coastal town …

UK Suffers Worst Train Crash Since 2004 After Derailment Kills Three People

Britain suffered its worst train crash in more than 15 years after a derailment in Scotland killed three people, including the driver, and left another six injured. The Scotrail service was traveling from Aberdeen to Glasgow when it left the …

UK Insurer Direct Line’s H1 Profits Beat Forecasts as Auto Claims Drop During Lockdown

Insurer Direct Line gave a double bonus to shareholders on Tuesday as first-half profits beat expectations due to a slump in motor claims as Britons drove less during the coronavirus lockdown. Britain’s biggest car insurer raised its interim dividend 2.8% …

UK Regulator Warns Insurers to Fairly Calculate COVID-Related Biz Interruption Claims

Insurers that do not treat customers fairly when calculating payouts for business interruption due to the coronavirus crisis will face action by Britain’s markets watchdog. The Financial Conduct Authority (FCA) has taken eight insurers to court over business interruption policy …

COVID-19 Will Drive Demand in UK for Bike Insurance: GlobalData

Bicycle insurance is not a popular product in the UK – but that could be about to change, said GlobalData, the London-based platform that provides data analytics and expert analysis about global industries. Less than 1% of UK consumers have …

London Expects Only Half of Bankers to Return to Their Offices by Year-End

London’s normally buzzing financial districts will still be a pale shadow by the end of the year, as banks plan for no more than half their staff, who have mostly worked from home throughout the COVID-19 pandemic, to come to …