Keep up with what’s been happening this week in our latest actuary news round-up…

Lloyd’s of London to shut market today

Chief Executive John Neal has announced that Lloyd’s of London market will close its underwriting floors for a day to test emergency protocols due to coronavirus. This will be the first time Lloyd’s has shut in 330 years.

Insurance company, Aon to buy rival Willis Towers Watson

The large global insurance company Aon will be buying Willis Towers Watson in a $30bn insurance deal. This will create one of the world’s largest insurance brokers with a combined value of $80bn.

FTSE Stock market drops over 9% this week

The stock market has seen a massive drop globally due to coronavirus this past few weeks with Britain’s blue-chip FTSE 100 index trading down over 9% yesterday.

Pension Tax allowances changes revealed in Budget 2020

In chancellor Rishi Sunak’s first budget it has been said that the threshold for tax charges on UK pension saving has increased with tapering only apply to people earning more than £200,000 which is up from the previous £110,000.

Swiss Re announces strategic alliance with Microsoft

One of the world’s biggest reinsurer, Swiss Re announces its strategic alliance with $1.2tn tech company, Microsoft to further advance insurance innovation and extend financial protection to more people globally.

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