Insurance News
Hiscox Insurance Produces Record Profits Despite Crunch
Hiscox Insurance reported first half profits up 3.4% to £109.2m despite the tightening grip of the credit crisis. Analysts anticipated the UK insurer’s profits to come in between £58m and £103m, says Times Online.
A significant increase in online sales for home and small business insurance was instrumental in reaching the record figure of £109.2m. Despite [...]
British Workers Unnecessarily Pay For Life Insurance
Out of 1,300 UK employees surveyed by AON, a global leader in risk management, 77% said they weren’t provided with life insurance by their employers, or if they were, they weren’t aware of the benefits of such policy, according to the FT Adviser.
Aon goes on to say that nearly 40% of UK workers are indeed [...]
Travel Insurance Companies Fear Bogus Claims
Let’s face it, the credit crunch, credit crisis, recession, whatever you want to call it, is hurting most peoples’ pockets. Only a year ago credit was very easy to obtain and people went about their way merrily spending, enjoying fun-filled holidays, the works.
Even though it’s been almost a year of realising the economy is suffering, [...]
Car Insurance Premiums Hit New Heights
Car insurance premiums are rising to record levels, says the Telegraph.co.uk. If consumers weren’t being hit enough with rising costs in fuel, food, and electricity, now the average price of car insurance peaks over the £500 a year mark. These figures are reported by Sainsbury’s Car Insurance.
Young drivers are not the only group experiencing these [...]
Big Profits For Fortis Insurance UK
Fortis Insurance UK reported a whopping £43.3 million pre-tax profit in spite of difficult market conditions. They did reveal a very small decrease (2%) in overall Gross Written Premiums to £375.3 million however this was mainly due to a “disciplined pricing strategy”.
First half expansion included Fortis launching life business, legal expense cover for customers as [...]
Kwik Fit Insurance Win Top Award
Kwik Fit car insurance company wins award and recognition for “excellence, business improvement, dynamism and flexibility in the UK insurance sector”, according to a pr release by the insurer.
The Training Award is a landmark for the company helping to establish Kwik Fit as an industry leader and respectable provider in the competitive car insurance industry. [...]
Britons Choosing The Frugal Route
Credit-crunched Britons are pulling purse strings and changing the way they spend. Halifax Home Insurance conducted a survey revealing that over two thirds questioned are making a conscious effort to save money as they head toward an uncertain economic horizon.
Is this all that bad? Prior to the current credit crisis borrowing money was almost as [...]
Royal Bank of Scotland Loses Big
RBS, one of the UK’s largest banks and owner of Ulster Bank and First Active reported a loss of nearly £700 million in the first half of this year, compared to £5.1 billion in profits the same time last year.
The massive shortfall is the largest since the bank went public 40 years ago and the [...]
Credit Cruch Continues Squeeze On Tenants
According to insurer AXA, a new report reveals an increase in private tenants missing rental payments could hurt landlords ability to pay their own creditors. The research was provided by YouGov on Axa’s behalf and reveals the potential problems buy to let landlords could be facing as the credit crunch continues its squeeze.
Many landlords are [...]
Insurance Companies Fear Teenage Drivers
Many parents are scared to death of sitting in the passenger seat while their bright-eyed teen sets forth on the swervy path to learning to drive. The sad reality is that in the UK drivers under 25 years old account for a quarter of the drivers killed on the road.
Norwich Union found that young driver [...]
