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Direct Line CEO picks up huge pay package

“The group has delivered on the strategic objectives set out by Adam Winslow at our capital markets day in July,” said Richard Ward, Direct Line Group’s remuneration chairman, in the annual report. “Strong growth in our core product areas has driven improved trading performance, further supported by bringing Direct Line Motor on to price comparison websites for the first time.”

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Allianz Trade launches business fraud insurance operations in Ireland

It also includes protection against losses from social engineering fraud, including impersonation fraud, such as fake president fraud. Losses due to third-party fraud, including robbery, burglary, fake buyers or suppliers, payment diversion, and forged invoices, are covered as well. In addition, the policy includes business continuation costs for up to six months following a fraud incident.

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Global insurance protection gap hits estimated £1.4 trillion

The survey also found that many insurers view technology as the most effective means to close the protection gap. Some companies are already applying advanced tools to reduce insurance costs, with 40% of respondents reporting the adoption of these measures. Others are developing new products, such as parametric or microinsurance, which 40% of organizations are currently using. Additionally, 28% of firms are engaging with regulators through industry bodies, while 32% are using data to improve risk assessment and product design.

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Revealed – the UK insurance industry’s Elite Women of 2025

What is the Elite Women list?

Each year, Insurance Business invites industry professionals from across each of its regions to nominate exceptional female performers. These are women who are leaders, breaking through barriers or inspiring those around them. Nominators were asked to outline their achievements over the last 12 months – and those achievements were then put to an independent panel of judges for assessment. In the UK, that panel consisted of:

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Standing out from the crowd

In early February, the Treasury’s consultation on a UK captive regime closed. The London Market Group has worked closely with market practitioners to develop our response and, through that process, it has been made clear that there is real enthusiasm and excitement amongst captive owners, advisers and other interested parties in the prospect of being able to have a captive insurer in the UK. The phrase that was used time and time again was “the UK has the potential to be a ‘destination domicile’.

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Beazley shares strong results, announces huge buyback

Insurance written premiums increased by 10% to $6.16 billion, up from $5.60 billion in 2023, while net insurance written premiums rose to $5.15 billion from $4.70 billion the previous year. Despite the positive financial results, Beazley’s undiscounted combined ratio deteriorated to 79%, compared to 74% in 2023, while the discounted combined ratio stood at 75%, down from 71%. Return on equity also declined to 27% from 30%.

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Eaton Gate joins imarket

“I’m delighted to see Eaton Gate join imarket and to be able to help them further their digital distribution into the Bravo Networks,” said Simon Bloomfield, head of imarket. “We look forward to working with Eaton Gate, adding more products and supporting them in widening their distribution over the coming months.”

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