Keep up to date with the latest insurance and business news in our weekly round-up…

 

Metro Bank wins lion’s share of RBS-funded competition scheme

Metro Bank has clinched the biggest award to date from a £775m scheme meant to boost competition in the banking sector, despite the revelation of a major accounting blunder at the high street lender last month.

Daimler, BMW to invest 1 billion euros in venture to rival Uber

German carmakers Daimler and BMW unveiled a joint ride-hailing, parking and electric car charging business on Friday to compete with mobility services provided by Uber and other tech firms.

Axa UK reveals growth in commercial lines

Axa UK & Ireland has posted higher revenues in commercial lines and a slightly improved combined operating ratio (COR) for 2018.

Cathedral City maker Dairy Crest to be bought by Saputo

Dairy Crest, whose brands include Cathedral City cheddar and Country Life butter, has agreed to be bought by a Canadian company in a near-£1bn deal.

Insurers looking to mirror Amazon’s ‘customer obsession’

The success of Amazon, Airbnb and other digital businesses has forced insurers to make radical technological changes as they aim to satisfy evolving customer expectations.

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