ABI: we will not be complacent but the insurance industry remains strong
The Association of British Insurers (ABI) has insisted that the UK insurance industry remains stronger than during previous times of market turbulance.
Responding to recent reports on the status of UK insurers, Peter Vipond, director of regulation at the ABI said: "The British insurance industry entered the current period of market turbulence in a far stronger position than in 2003. Firms have, for example, changed their business models and now rely far less on equity holdings.
"Above all, working with the Financial Services Authority, firms have introduced a new generation of risk controls, which require them to use realistic numbers for
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on E-Trading
Imarket grows to five live broker systems with Bravo Digital Trader
Polaris has added Bravo Digital Trader as the fifth broker system to use imarket, joining its portfolio of Acturis, Applied, Open GI and SSP.
Open GI swoops for Hug Hub’s Digital Platform
Open GI has bought Hug Hub’s Digital Platform which offers portal capability for insurance brokers and managing general agents.
Momentum building with brokers into 2024, says Hiscox leader Musselle
Hiscox is adding 10 specialist regional underwriters to continue its push with brokers having grown the business last year, group chief underwriting officer Joanne Musselle told Insurance Age.
Bravo Networks’ SME e-trade platform goes live
Bravo Networks has launched Bravo Digital Trader, with Zurich writing the first policy.
Phil Bayles on the etrading and data future for Bravo Networks
Bravo Networks’ delayed Bravo Digital Trader will go live in coming weeks as Ardonagh leader Phil Bayles hailed an “unbelievable asset”, Insurance Age can reveal.
Zurich SME head Edwards: Speed and service key to maintaining double-digit growth
Zurich is seeking to improve its referral process and continue to invest in underwriters as part of its drive for double-digit new business growth across the SME space.
Banga commits to more Polaris developments as insurers push the boundaries on digital trading
Having just completed five years as managing director of Polaris, Vivek Banga has promised more developments from the “core and essential” digital trading offering in 2024 after £2.5m of investment last year.
Polaris reveals 21% imarket premiums surge to £394m in 2023
Insurance industry owned Polaris has revealed a 21% jump in premiums placed through its digital trading platform imarket to £394m in 2023 as policies broke through the half a million barrier.
Most read
- Wakam receives PRA approval for new £500m GWP UK insurer
- ABI stops short on voluntary premium finance cap as it sets out five principles
- LV claims director Milliner tipped for DLG role after exit