Discount rate
Zurich's UK GI COR improves to 85.6%
The COR improved more than 9% points as UK CEO Tulsi Naidu expects to see growth stabilise going forward from efficiencies rolling through to the results.
Hastings profits slip in H1 this year
Results for the first half of 2019 show decreased profit and an £8.4m Ogden hit as company reports growing GWP.
Ageas sees H1 2019 profit rise 70% after Ogden boost
UK CEO Andy Watson says insurer is to focus on growth after restructuring and exiting unprofitable schemes, as he discusses why he does not think the government has "covered itself in glory" when setting the new discount rate.
LV GI's Treloar warns of discount rate-led premium rise
The CEO blamed Ogden for the increase as he pledged commitment to UK brokers and discussed the impact of the L&G deal following LV interim results.
Dye commits to great broker service following branch closures
The Allianz CEO points to 3.7% underlying business growth as he discusses the provider's half-year results and weighs in on the amended discount rate.
RSA’s Egan issues cautious welcome to H1 results
The CEO for UK & International is awaiting full year numbers ahead of any celebration as UK COR improves to 94%.
Van insurance premiums shoot up
The sector continued to display big pricing disparities across age groups and experts warn Ogden will increase market volatility.
Rise in motor insurance prices last quarter
Data gathered by the ABI finds repair costs climb to £1.2bn in Q1 2019, the highest since the ABI started the survey.
The Insurance Age Podcast: 26 July 2019
The Insurance Age editorial team dig into this week's top stories.
MOJ defends discount rate decision
The government hits back at criticism from the ABI pointing out a rate of between 0-1% was never guaranteed.
The Insurance Age Podcast: 19 July 2019
The Insurance Age editorial team dig into this week's top stories.
ABI bites back on discount rate
UPDATED: The association said the impact assessment is “misleading and disingenuous” in a letter to Lord Chancellor, David Gauke, following the announcement it would be set at -0.25%.
Quizzical questions: 19 July 2019
Test your knowledge of the week's news with our topical quiz.
Fact file: What’s the story with the Ogden Rate?
The much-debated discount rate was reset at -0.25% this week, but how did we get to this point and what is the background to this highly explosive issue? Insurance Age outlines the key touchstones
Hastings expects £8.4m hit from Ogden rate change
Company says it had believed the rate would end up between 0 and 1%, as Biba states move to -0.25% is "nowhere near enough".
Documents reveal government actuary recommended a 0.25% discount rate
The Lord Chancellor and Justice Secretary, David Gauke, eventually settled on a minus 0.25% Ogden rate.
Insurers disappointed by the new discount rate
Government has changed the rate from -0.75% to -0.25%, which is a smaller rise than what was generally expected.
Government reveals recalculated Ogden rate
The increase is not as generous as many had expected.
Motor market records best year since 1985 ahead of troubled future, says EY
FCA pricing investigation and Civil Liability Act are expected to depress profitability in future years.
Discount rate review set to begin
Lord Chancellor and Justice Secretary David Gauke will announce the move later today, with a decision on the rate to follow on or before 5 August.
Insurers celebrate at Civil Liability Bill gaining Royal Assent
However the ABI noted that the “clock is now ticking” on the first review process into how the discount rate is determined.
Call for evidence on discount rate setting welcomed
The Lord Chancellor has asked for experts to contribute to a review of how the Ogden rate is set with a final decision predicted by May 2019 as the industry hopes it may settle around 1%.
Industry welcomes passing of Civil Liability Bill ahead of Royal Assent
Biba chairman Lord Hunt of Wirral urges the government to avoid further delay in signing the bill into law.
Podcast: The top five stories of the week
Ida Axling and Emmanuel Kenning discuss Simon Cooter's decision to leave Covéa in 2019 and FCA warnings on clone brokers.