Discount rate
The stats: Q4 2024 – Premium growth continues, but at a slower pace
The Acturis Commercial Broking Index reveals further premium increases at the end of the year, but experts predict the market is set for softening in 2025. Ida Axling reports.
Personal injury discount rate shift will cut motor premiums, says PWC
The government will move the discount rate applicable to personal injury lump sum compensation payments to 0.5% as of 11 January 2025.
Government announces motor insurance task force to tackle “spiralling costs”
The Government has announced a new cross-government motor insurance task force, supported by industry experts, to tackle what it claims is “the spiralling costs of car insurance”.
PwC tips Northern Irish motor premium to drop 15% after Government review
Motor insurance premiums for Scottish and Northern Irish drivers have been tipped to decrease by an average of £60 (10%) in Scotland and £90 (15%) in Northern Ireland following a Government review.
Government starts discount rate review
The Ministry of Justice has confirmed the start of the 2024 review of the personal injury discount rate in England and Wales with a decision due no later than 11 January 2025.
Are Northern Ireland brokers feeling the personal lines capacity squeeze more than most?
With prices rising faster in personal motor and household than other parts of the UK, brokers in Northern Ireland have good reason to be worried about remaining competitive. Siân Barton gets to the root of the issue and explores what is being done to…
Biba reveals ‘Managing Risk – Delivering Stability’ theme for 2023 manifesto
The British Insurance Brokers’ Association has set out its agenda for 2023 with the launch of its manifesto titled ‘Managing Risk – Delivering Stability’ containing 37 commitments and 32 calls to action.
Covéa reveals £22.3m underwriting loss in 2019
Provider also posts increases in GWP and profit after tax as it reports "disappointing" personal motor result impacted by claims inflation and a "lower than anticipated" Ogden rate.
LV's underwriting profit falls by 39% in 2019
But CEO Steve Treloar says premiums in the provider's broker business has grown by 24% after Allianz's personal lines business transferred to LV.
Profits fall at Direct Line in 2019
COR deteriorated to 92.2% as provider says results were impacted by Ogden and restructuring costs.
ERS says Ogden drove up COR in 2019
Profit and GWP improved at the motor provider.
Hastings posts profit drop after "challenging" 2019
CFO John Worth said results were driven by elevated claims as the business reports rising GWP in every division except van.
Van insurance premiums rising faster than the rate of inflation
Research by Consumer Intelligence shows the average van premium has risen by 37.4% since April 2014.
ABI reiterates call for government to slash IPT
Trade body's data shows motor insurance premiums rose again in the last quarter of 2019 with increases in IPT and changes to the discount rate driving up prices.
Motor premiums may ‘reach the highest on record’
Willis Towers Watson and Confused warn of future increases as they publish data for Q4 2019.
Christmas Q&A with Tim Ryan and David Williams
Tim Ryan, executive chairman at Ryan's, discusses the trends of 2019 and David Williams, MD of underwriting and technical services at Axa, outlines what the industry can expect in 2020.
Christmas Q&A with Michael Lawrence and Simon Mabb
Michael Lawrence, broker distribution and underwriting director at LV, considers the headlines of 2019 and Simon Mabb, group managing director at Romero Insurance Brokers, predicts those of 2020.
Christmas Q&A with Sarah Mallaby and Peter Blanc
Sarah Mallaby, director of broker markets at Allianz, reviews 2019 and Peter Blanc, group CEO at Aston Lark, looks ahead to 2020.
Christmas Q&A with David Martin and Ashwin Mistry
David Martin, head of retail management at Zurich UK, looks back at 2019 and Ashwin Mistry, chairman at Brokerbility, looks forward to 2020.
2019 in review: July's top stories
In July, the market was shocked by the departure of Amanda Blanc from Zurich after only nine months in the CEO EMEA role.
Results dip for Allianz amid claims inflation and Ogden losses
CEO Jon Dye said the business is "still in good shape" despite the slip in performance.