Reinsurance News
ABI
Adverse weather drives UK property insurance payouts to record £6.1bn in 2025: ABI
18th February 2026
Property insurance payouts in the UK reached £6.1 billion in 2025, the highest annual total on record, according to recent data by the the Association of British Insurers (ABI), with total claims increasing by £400 million, or 7% year-on-year. Payouts reached £1.5 billion in 2025’s final quarter alone, as adverse weather ... Read the full article
Larger pension pots drive record 2025 for individual annuity premiums: ABI
17th February 2026
Larger pension pots helped push total premiums paid into individual annuities up 4% to £7.4 billion in 2025, marking the highest annual level since pension freedoms were introduced in 2014, according to the Association of British Insurers (ABI). The increase came despite a small decline in the number of annuities sold, ... Read the full article
Bridgehaven becomes ABI member
26th September 2025
Bridgehaven Specialty UK Limited, a hybrid insurer in commercial and specialty lines, has joined the Association of British Insurers (ABI). Bridgehaven is an independent UK hybrid-fronting insurer that empowers managing general agents (MGAs) with long-term capacity while helping reinsurers achieve greater diversification. Representing more than 300 firms, the ABI works with UK ... Read the full article
UK property insurers paid £1.6bn in claims during Q2 driven by adverse weather: ABI
30th July 2025
Property insurers paid out £1.6 billion in claims during the second quarter of 2025, a 7% increase compared to the previous quarter, as they helped homeowners and businesses recover from unexpected events and costly disruptions, according to the ABI. The ABI reported that adverse weather drove a significant portion of these ... Read the full article
Fire Safety Reinsurance Facility expands coverage limit to £70m
3rd July 2025
The insurance industry’s Fire Safety Reinsurance Facility, an initiative aimed at providing insurance coverage for multi occupancy buildings with fire safety issues, has increased its coverage limit from £50 million to £70 million, the Association of British Insurers (ABI) has revealed. This expansion, following a successful first year, is set to ... Read the full article
BILTIR & ABI sign MoU to boost global reinsurance industry
17th June 2025
Bermuda International Long Term Insurers and Reinsurers (BILTIR) and the Association of British Insurers (ABI) have signed a Memorandum of Understanding (MoU) to enhance collaboration by sharing information and insights on critical industry issues. Under the agreement, which was signed at a Life and Annuity Reinsurance Forum in London, BILTIR and ... Read the full article
ABI names Chris Bose Director of General Insurance & International
6th June 2025
The Association of British Insurers (ABI), the trade body representing the UK’s insurance and long-term savings industry, has announced the appointment of Chris Bose as Director of General Insurance & International, effective August 11, 2025. Bose, an experienced public policy practitioner with extensive expertise in financial services, is joining ABI from ... Read the full article
ABI urges government action as storm-driven insurance claims hit record levels in Q1’25
9th May 2025
The Association of British Insurers (ABI), the trade body representing the UK’s insurance and long-term savings industry, has revealed that insurance claims related to extreme weather have reached a record high in the first quarter of 2025 — intensifying calls for stronger government investment in flood defence infrastructure. According to the ... Read the full article
Kay Swinburne named Independent Chair of ABI
11th April 2025
Baroness Kay Swinburne has been appointed as the new independent Chair of the Association of British Insurers (ABI), taking over from Baroness Nicky Morgan, who was the inaugural holder of the position. The role of independent Chair was introduced in 2021, alongside the position of independent Non-Executive Director, with the aim ... Read the full article
ABI highlights positive impact of Fire Safety Reinsurance Facility
20th March 2025
The Association of British Insurers (ABI) has commended the significant positive impact of the Fire Safety Reinsurance Facility, one year after its launch. Created by re/insurance broker McGill and Partners, with support from the ABI and in partnership with the British Insurance Brokers Association, the Facility was established as an ... Read the full article
Andy Briggs to succeed Tim Bailey as ABI President
25th February 2025
Andy Briggs, CEO of Phoenix Group, has become the new President for the Association of British Insurers (ABI), succeeding Tim Bailey, Zurich CEO, who had held the role since 2023. Briggs will hold the President role for the next two years. Ken Norgrove, CEO, UK & International, RSA Insurance, remains the ... Read the full article
MGAA and ABI sign agreement to boost insurance sector
13th February 2025
The Managing General Agents’ Association (MGAA) and the Association of British Insurers (ABI) have signed a Memorandum of Understanding (MoU) designed to strengthen collaboration and drive progress within the insurance sector. The agreement signifies a shared commitment to mutual understanding, enhanced cooperation, and joint efforts in addressing key industry challenges. The MoU ... Read the full article
Lloyd’s & ABI launch guide to help re/Insurers define major cyber events
7th November 2024
Recognising cyber as one of the most significant systemic and emerging risks, Lloyd’s and the Association of British Insurers (ABI) have jointly published a guide to help re/insurers define major events and identify key factors to consider. According to Lloyd's and the ABI, the dynamic nature of cyber threats necessitates ongoing ... Read the full article
Home insurance premiums edge up, remaining below historic highs: ABI
13th May 2024
Home insurance premiums in the UK increased by 3% in the first quarter of 2024. Despite this uptick, prices remain below historic highs, according to data from the Association of British Insurers (ABI). Home insurance premiums increased by 3% in the first quarter of 2024, attributed to severe winter weather. Despite ... Read the full article
ABI launches guide to help firms in the insurance industry use AI responsibly
4th March 2024
The Association of British Insurers (ABI) has launched a new guide to help insurance firms use artificial intelligence (AI) responsibly. The guide, which focuses on the best interests of consumers, sets out how those working in the insurance and long-term savings industry can put into practice the UK government’s five principles ... Read the full article
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