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

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.

Equity markets drop due to new Covid-19 restrictions

Equity markets across Europe have dropped on Thursday due to new Covid-19 restrictions to tackle rising cases with major markets such as the FTSE 100 and CAC 40 rising by 1% early on Friday.

Banks plan to increase cost of credit card borrowing

In the run up to Christmas, UK banks are planning to increase the cost of credit card interest rates; which may affect the poorest households as unemployment rises after the furlough scheme has ended.

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