Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters. Bain bought home and motor insurer Esure in 2018 in a deal which valued the business at £1.2bn. According to Reuters potential bidders include Ageas which told the news outlet it never comments on market rumours. … Read more
Moody’s has changed its outlook for UK property and casualty insurers to stable from negative, noting prices for personal lines cover, such as motor insurance, have risen sufficiently to absorb claims inflation. The ratings expert also flagged that commercial lines prices while rising more slowly or softening were still “supportive of strong insurer performance”. Motor … Read more
Lloyd’s has begun a consultation as it looks to modernise and streamline its approach to dealing with poor conduct and behaviours in the market including both financial and non-financial misconduct. The consultation paper Lloyd’s: A Modern Framework For Dealing with Poor Conduct and Behaviour in the Market, comes as the market admitted its current processes … Read more
Research by Which? has revealed the average annual percentage rate for motor insurance on monthly premium finance at 22% and 20% for home policies. However, the consumer champions noted some consumers were being charged more than double this level. In August, Which? surveyed 49 car insurance firms and 48 home insurance firms to find out … Read more
Arc Legal Group has partnered with HB Underwriting to cater for the latter’s policyholders who find themselves as employers because of their care needs. Arc Legal, specialist provider of ancillary insurance products and services in the UK, explained that although traditional home insurance provides cover for the informal employment of domestic employees such as cleaners … Read more