Aviva’s McMillan bullish on insurer summit outcomes
David McMillan, chief executive officer UKGI at Aviva, has told Insurance Age he was as optimistic as he had ever been on reducing the cost of motor premiums following the outcome of last week’s insurance summit with the Prime Minister, David Cameron.
Mr McMillan, who was involved with the post-summit conference calls among the insurance chiefs but not the actual meeting, declared: "David Cameron has got the bit between his teeth and there is a strong will to act."
He claimed Aviva had been lobbying for reform on personal injury matters for seven years and that the summit could lead to "quite significant change".
"There is a very strong understanding in government of the drivers of the problem of motor price inflation," he claimed.
Mr
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
FCA promises reframed and revised ‘name and shame’ plans but no decision until early next year
In a House of Lords Financial Services Regulation Committee evidence session earlier today, Financial Conduct Authority CEO Nikhil Rathi said no decision will be made on its investigation transparency proposals consultation until early next year.
Blog: Brokers calm about RSA brand going as ultimately service outscores sentiment
Brokers would be relaxed if the RSA brand fell by the wayside, and have said that service remains a much more important factor in terms of their relationship with parent Intact going forward.
Second quarter of motor premium falls in a row – ABI
The average motor insurance premium fell by 2% in July to September to £612, according to the latest data from the Association of British Insurers, the second consecutive quarterly drop.
EY revises insurer income growth forecasts but trend remains down
EY has released improved premium income forecasts for UK non-life insurers but maintained its view of slowing growth in 2024, 2025 and 2026.
Aviva lifts the lid on young person social media ghost broking epidemic
One in three young drivers have purchased car insurance from ghost brokers selling invalid or fake policies on social media platforms, according to an Aviva survey.
DLG to cut 550 jobs as it targets £100m of savings
Direct Line Group has started consultations with staff as part of a proposed reduction of about 550 roles, it announced today.
Video Q&A: Hiscox head of private art and private clients Robert Read
Following the High Net Worth Forum, which was held on the 7th November in London, Insurance Age content director Jonathan Swift caught up with sponsor Hiscox’s head of art and private clients Robert Read, to discuss the state of the market.
RBC warns of potential £250m premium finance hit to Close Brothers
If a recent court ruling on motor finance litigation is upheld and spreads to premium finance Close Brothers could suffer a £250m hit, equity analysts RBC Capital Markets have warned.