Stephen Hester, chief executive officer at RSA Insurance Group, discusses how Brexit will impact the company and the period of uncertainty created by the event. Source: Bloomberg 

British insurers have been left reeling after the country’s surprise decision to exit the European Union jeopardized the value of at least $2.6 trillion of their investments. Aviva Plc and Legal & General Group Plc, the U.K.’s largest managers of pension assets, tumbled more than 15 percent in London trading on Friday, helping to erase […]

HOW quickly the unthinkable became the irreversible. A year ago few people imagined that the legions of Britons who love to whinge about the European Union—silly regulations, bloated budgets and pompous bureaucrats—would actually vote to leave the club of countries that buy nearly half of Britain’s exports. Yet, by the early hours of June 24th, it […]

From the global fall in oil prices back in March to the months of uncertainty created by today’s EU referendum, so far 2016 has been an unpredictable year for businesses in the UK. Of course, challenges such as these are nothing new. In the modern, global economy, volatility is the new normal. The question now […]

The role of the chief financial officer (CFO) in insurance companies is rapidly changing as soft market conditions, a tough investment climate and burdensome regulation continue to bite. Panellists at The Insurance Insider‘s CFO Forum yesterday (22 June) said the burden placed on CFOs had increased exponentially as the role evolved from one involved just in financial […]

European Central Bank policy has increased the likelihood that interest rates will stay low for longer, requiring insurers and occupational pension funds to focus more closely on risk management, the EU’s insurance regulator EIOPA said on Tuesday. “Monetary policy and low crude oil prices imply a protracted low yield environment in the short to medium-term,” […]

Holidays and insurance for older Britons have kept Saga trading steadily in the past three months, helping the over-50s lifestyle group stick to its expansion plans for the year. Saga, which floated on the stock market two years ago,  has had “solid” progress in both its insurance and travel businesses since February. “We have made a […]

Axa SA, France’s largest insurer, plans to increase profitability through 2020 by seeking 2.1 billion euros ($2.4 billion) of cost cuts and growing digital investments to tap rising demand for policies protecting savings and health. The firm may also seek acquisitions to boost growth. Axa is targeting an adjusted return on equity, a key measure of […]

Prudential will no longer sell annuities through advisers on the open market and will offer its product to existing customers only. A spokesman said: ‘We can confirm that we propose to make a change to conventional annuity business written with financial advisers. ‘As a result of this change, from 17 June 2016, we will no longer accept applications […]

A British Union flag flies in front of an EU flag during a pro-EU referendum event at Parliament Square in London, Britain June 19, 2016. Twenty-one European insurance associations said on Monday it was in Britain’s and the European Union’s interests for Britain to remain in the EU, and a British insurance broking association said the sector […]