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

Amazon prepares to launch motor insurance in India

Amazon is planning to sell car and motorcycle insurance with the first launch happening this year in India. An analyst from GlobalData has said that this will lead to an enormous global reach; with can make it a strong competitor for other insurers across the globe.

New professional development scheme released by the IFoA

The Institute and Faculty of Actuaries (IFoA) have launched a new scheme to encourage professional development. The scheme requires members to do 15 hours of activities; including two hours of professional skills training to continue their professional development.

Lloyd’s to pay £5bn in Covid-19 insurance payouts

Insurance market, Lloyd’s of London, has said that it expects to pay £5bn in insurance payouts relating to the coronavirus pandemic. This comes after they have reported that in the first half of 2020, the claims totalled £2.4bn.

NatWest uses £5bn of BoE Covid-19 funds

Data from the Bank of England (BoA) has shown that the NatWest bank has tapped £5bn from their fund which was set up to support struggling small businesses during the coronavirus pandemic.

Pound drops after the EU threatens to walk away from Brexit trade talks

The value of the pound has fallen against the euro after the European Union has threatened to walk away from Brexit trade talk if the UK doesn’t abandon plan to change parts of the Withdrawal Agreement.

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