FCA points to “remarkable” insurer failings as it launches “fundamental” market review
Chris Woolard on why the regulator felt it had to act.
Financial Conduct Authority (FCA) board member and director of strategy and competition, Chris Woolard, has admitted it found “less than we would expect” when it investigated pricing controls at household insurers “particularly bearing in mind the wider conduct rules in place at the moment”.
Woolard spoke with Insurance Age on a busy day for the regulator and a crucial one for the industry.
It revealed the findings of its review of the home insurance market; issued a CEO letter; launched a
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 or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
MoneySuperMarket grows ChatGPT app with home and pet insurance
Price comparison service MoneySuperMarket has added home and pet insurance products directly in its ChatGPT app.
Aviva makes third acquisition in three years buying long standing partner
Aviva has acquired DisasterCare Group in a move that it believes will strengthen its disaster recovery and restoration capability, as well as support a quicker end-to-end property claims process for customers, brokers and partners.
Motor premiums remained stable in Q1 – ABI
The average motor premium held steady in the first quarter of 2026 at £560, just 0.2% up on Q4 2025, the Association of British Insurers has calculated.
Optio builds real estate capacity to £100m
Specialty managing general agent Optio Group has struck a capacity deal for its real estate product, increasing its total sum insured binding authority from £60m to £100m.
Broker growth optimism rises to new heights
Brokers are increasingly optimistic about growth, with regional players leading the way according to a survey by Aviva.
Covéa bolsters personal lines leadership with McCann and Midgley in new roles
Covéa Insurance has created two new roles, adding Jamie McCann as head of personal lines and promoting Jade Midgley to head of trading for personal lines.
Allianz revamps commercial management as Nick Hobbs exits after 25 years
Nick Hobbs is to leave Allianz UK after 25 years with the insurer, stepping down from his roles as chief distribution officer and chairman of Allianz Engineering Inspection Services.
Analysis: Are employee benefits the new diversification frontier for GI brokers?
This year, Top 100 UK brokers Jensten, Lloyd & Whyte and Clear have all joined amii, a trade body representing intermediaries advising on health insurance, protection and wellbeing services, while others have acquired in this space. Sam Barrett looks at why firms more closely associated with general insurance broking are branching out to capitalise on opportunities in the employee benefits market.