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

The Treasury has been called to address #justpayit campaign against insurers deducting grant payments

Some insurance companies have been deducting grant payments after the Government set up the Small Business Grant Fund to support businesses through the lockdown. Because of this those behind the #justpayit campaign have now called for the Treasury to take action against insurers that are deducting government grants from pay-outs.

RSA in talks with overseas insurers over a £7bn takeover deal

RSA Insurance is in talks with Canadian insurer Intact and Danish insurer Tryg in a £7bn takeover deal which can lead to the break-up of one of the FTSE 100’s oldest companies. RSA received an offer after their shares increased by 46% after reports of a possible deal.

FTSE 100 falls after 4 day rally amidst Covid-19 concerns and uncertainty over Brexit

London’s FTSE 100 fell by 0.8% as retailer, industrial and pharmaceutical stocks declined on Friday. This is after Britain reported a surge in new case and deaths on Thursday and after the EU Internal Market Commissioner said there was a 50/50 chance of Britain and the EU securing a deal causing uncertainty in Brexit talks.

Zurich invests £1 million in workforce retraining programme

To address an anticipated skills gap in upcoming years, Zurich has invested £1 million in a workforce retraining programme which aims to upskill around 3,000 UK employees for data literacy and tech-driven competencies in the next five years.

Lloyd’s of London calls for simpler insurance products in response to pandemic

Commercial insurance market, Lloyd’s of London is currently reviewing how insurance contracts are designed and sold in a bid to make them simpler in responses to how the coronavirus pandemic has affected the industry.

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