Storm
Ecclesiastical grows UK & Ireland book but underwriting profit slips in 2023
Ecclesiastical Insurance upped its gross written premium in the UK and Ireland by 15.9% last year to £399.7m, but its combined operating ratio also rose to 92.1% from 87.1% in 2022.
UK insurance protection gap improved to 17% in 2022, Swiss Re says
The UK was hit by $900m (£732.6m) of economic losses from natural catastrophes such as storms and flooding in 2022, with insurance covering $800m of the total, according to Swiss Re.
Ageas confirms €23m December freeze hit as UK GWP drops
Ageas has reported an 11% fall in UK gross written premiums in 2022.
Opinion: Tips to get your clients’ claims across the line quickly
Getting claims paid is not as straightforward as it once was, according to Malcolm Harvey, founder and executive director of Qlaims. Here, he explains a few hacks that might at least help speed up settlements.
Allianz reveals £32m December freeze hit and CEO Holmes predicts rate hikes to continue
Allianz Holding has revealed the impact of the winter weather on its bottom line, as CEO Colm Holmes forecast that the Q3 and Q4 rating hikes would continue into 2023.
Operating profit falls almost 60% at Allianz Holdings in 2022
Allianz Holdings has posted a 58.3% drop in operating profit to £132.3m for 2022 as its combined operating ratio deteriorated year on year from 93.2% to 99.2%.
Home insurance prices fall again to new record low
The average cost of home insurance dropped to £300 in 2022, the cheapest since the Association of British Insurers started collecting data in 2012.
Analysts warn of further hit to UK property insurance market in 2023
Increasing weather-related claims and soaring rebuild costs will damage the profitability of UK property insurers this year, according to analytics company Globaldata.
Gallagher accused of ‘anti-ethical’ position in row over storm-damaged block
Gallagher has denied breach of duty, but now housing firm has hit back with 'anti-ethical' claim.
GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
Experts warn clients will look elsewhere if brokers ignore parametric insurance
Specialists have highlighted the benefits to brokers of delivering parametric insurance to their clients and warned they will lose out if they do not engage with the fast-expanding offering that is becoming more mainstream.
Flood Re posts 18% policy growth
Flood Re has reported covering 256,634 policies in the year ended 31 March 2022, up 17.7% on the previous 12 months.
Covéa returns to profit in 2021
Covéa Insurance has reported post-tax profit of £7.9m in 2021 reversing the loss of £30.8m the previous year.
FloodFlash stakes claim for 'smart quote' as "paradigm shift" in mass market parametrics
FloodFlash has released 'smart quote' in its biggest update to its broker platform since launching in 2019.
Aviva grows UK GWP by 4% in Q1
Aviva has posted a 4% rise in UK gross written premiums for the first quarter of 2022 to £1.24bn but a deteriorating combined operating ratio of 99.4%.
ABI puts February storm payouts at £500m
The Association of British Insurers has updated that insurers are facing a £497m bill from storms Dudley, Eunice and Franklin which battered the UK in February.
Modellers put Storms Dudley and Eunice losses at up to £4.1bn (€5bn)
RMS estimates top figure of £3.7bn (€4.5bn) with the UK accounting for around 15% of the total.
Brokers praise insurer response to storms claims
Storms Dudley, Eunice, and Franklin could cost UK insurers more than £400m in claims, according to Moodys.
Ageas investing in digital to win with brokers, says Middle
The provider has teamed up with EIS, Amazon Web Services and Willis Towers Watson on a range of initiatives.
Blog: How to make loss adjusters allies when a storm hits
Mark Pierce, of Criterion, walks through how brokers can work with adjusters to help HNW clients post-storm damage.
News analysis: How climate change impacts risk development
Brokers tell Insurance Age about the way the risk landscape has morphed as a result of climate change and what advice they should be sharing with clients.