This week, Allianz UK finally announced it is to acquire 100% of the general insurance business of Legal & General Group for £242m. The transaction is subject to regulatory approvals.
News & Commentary
This week, the annual BIBA Conference dominated the UK general insurance scene. The BIBA chief executive told the Conference delegates that the range of skills needed in the insurance broking sector is changing fast and AI impact will be positive.
This week, following its unveiling of a new strategy, Lloyd’s confirmed it will invest in Layr, a cloud-based commercial insurance platform for small businesses, following a successful trial in the Lloyd’s Lab, which last week welcomed a second cohort of 12 InsurTech start-ups.
This week, Lloyd's again made the headlines by unveiling its new strategy with a number of transformational initiatives. Lloyd's, with its unique structure and traditional face-to-face relationships, have struggled to get to grips with high trading expenses and now an increasingly changing world.
The insurance industry has been dragged centre stage in responding to the challenge of climate change. The significant losses of recent years have hit global insurers and the Lloyd’s market very hard and have required a re-assessment of risks