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Insurance news

Allianz Trade delivers verdict on UK economic policy

“A full-blown trade war is a major concern: the resulting loss of economic activity and the return of inflationary pressures would likely undermine investor confidence, keeping them in a prolonged ‘wait and see’ mode,” said Ana Boata, head of economic research at Allianz Trade. “At the same time, increasing polarisation, already evident in many countries, imposes significant economic costs while intensifying social divisions.”

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Ariel Re completes first fundraising for new capital platform ARCP

ARCP allows investors, including smaller funds, family offices, and ultra-high-net-worth individuals, to participate in Lloyd’s risk with a minimum investment of US$5 million through Ariel Re’s Syndicate 1910. The platform eliminates the need for investors to establish a Lloyd’s Corporate Member, making it more accessible to a wider range of capital providers. 

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Lloyd’s appoints Alexandra Cliff as chief financial officer

“Since joining Lloyd’s as deputy CFO, Alex has played a vital role in improving our financial strength, including recent ratings upgrades, building our investment proposition, and transforming market reporting,” said John Neal, Lloyd’s chief executive officer. “She is a respected member of the executive committee, and I am confident she will continue to drive our strategic priorities as CFO.”

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Insurance conference at Howden’s London office met with protests

Inside the conference, protesters interrupted proceedings with speeches and theatrical performances, presenting testimonies from individuals affected by climate change. Outside, a model of a green sports car, designed to appear as though sinking into floodwaters, was displayed as a symbol of the perceived consequences of fossil fuel investments. 

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Howden consolidates several Birmingham offices

The Birmingham office, it stated, will provide a range of insurance solutions, including personal insurance, business insurance, health insurance and employee benefits. It also specialises in sectors such as sports, rail infrastructure and gun trade insurance. Howden has expanded in Birmingham through organic growth and acquisitions, including those of Jobson James Rail and Guncover. 

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FCA raises concerns about Abacus Insurance’s operations

Last November, the FCA banned former director of Inspire Insurance Services, Leigh Mackey, from working in financial services for financial misconduct and misleading regulatory authorities. Mackey was accused of misappropriating funds owed to insurers, as well as failure to conduct mandatory client asset audits over a period of four years. 

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AM Best stabilizes SCOR SE ratings

The financial toll of these adjustments was clear in SCOR’s nine-month results for 2024. The L&H segment posted a €467 million loss, dragging the company’s overall net income for the period to a loss of €229 million. Despite this, strong technical performance in property and casualty reinsurance, as well as robust investment income, helped soften the blow.

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