Covid-19 death risks could be link to air pollution & more…Keep up with what has been happening this week in our latest actuary news round-up…
Hiscox has appointed a new UK Chief Operating Officer
Hiscox, a specialist insurer that offer their services globally has appointed Louise Marling as the Chief Operating Officer at their UK branch. CEO of Hiscox UK, Bob Thaker said that it’s great to have Louise on board and ‘her operational expertise and wealth of industry experience make her an excellent addition…’
Employers could pay up to 100bn after new rules on funding company pension schemes
New analysis from LCP looking into the UK’s biggest pension schemes has shown that sponsoring employer may need to fund £100 billion into their schemed over the next 10 years compared to around £60 billion under the current rules.
51% of Small to Medium sized businesses have cut back on insurance policies due to Covid-19 pandemic
A study by Premium Credit, a premium finance provider has shown that slightly over half of companies have stopped paying for essential insurance policies to help keep their businesses stable during the pandemic.
Gareth Mee appointed as UK Actuarial Leader at EY
EY has appointed Gareth Mee as their new Actuarial Leader in the UK to lead their newly launched interdisciplinary team in their pensions and investment departments. The team will also be headed by eight partners across four UK offices in London, Bristol, Leeds and Edinburgh.
Old British Steel Pension Schemes secure full by-out next year
The Old British Steel Pension Scheme will complete their buy-out deal next year after agreeing a £2 billion pension insurance buy-in with insurer Pension Insurance Corporation plc. They will be expected to exit their Pension Protection Fund assessment period after securing this deal.
Transfer volumes for pensions increase after pandemic lockdown
Latest data from the Origo Transfers service show has shown that transfer volumes for DC pensions have been slowly rising in June after they fell in April and May during the Covid-19 lockdown.
Covid-19 pandemic will change how Lloyds operates
In an interview with Lloyds’ CEO, John Neal during Aon’s Virtual Reinsurance Renewal Season fireside chats, Neal has said that the coronavirus pandemic had pushed the marketplace to transform their headquarters into 21st century marketplace to have both ‘a virtual and real capabilities operating simultaneously’.
Insurance industry could be first to tackle economic response in future outbreaks
Speaking at the International Forum of Terrorism Risk (Re)insurance Pools Livestream 2020, Marsh’s chief executive and president John Q Doyle has said that to help manage future pandemics insurers and brokers should work together backed by the government to write specific pandemic insurance policies and to contribute risk knowledge and infrastructure.
EY has expanded their UK actuarial team to launch new interdisciplinary structure
EY’s actuarial team will now be led by Gareth Mee across four UK offices in London, Bristol, Leeds and Edinburgh; which will bring together investment, climate change and sustainability, pensions and insurance expertise to help their clients.
