The Association of British Insurers (ABI) has calculated that the UK insurance industry paid out £55bn to customers in 2017.
The trade body’s latest Key Facts document set out the role the UK’s insurance and long-term savings sector played in supporting consumers and companies in their financial time of need.
A breakdown of the £55bn figure includes:
- Markerstudy buys Co-op underwriting in £185m deal
- Markerstudy to use Co-op’s brand after deal
- Aston Lark buys Irish broker Robertson Low
- Mark Cliff joins Be Wiser as NED
- Ageas consults on closure of Stoke and Port Solent operations
- Axa UK hires Shali Vasudeva as COO from Hiscox
- InsurTech Futures: Zurich partners with travel start-up Pluto