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

 

UK economy contracts on back of Brexit uncertainty

The UK economy shrank in the second quarter, its worst performance in six and a half years, as growth was held back by Brexit uncertainty and car factory shutdowns.

Italy’s political crisis triggers bond sell-off and shakes European markets

Traders have sold off Italian government bonds and European stock markets are in the red after League party leader Matteo Salvini called for a snap election, saying his ruling coalition was unworkable.

HSBC Bank UK pension scheme agrees £7 billion insurance deal

The HSBC Bank (UK) pension scheme has signed a deal with The Prudential Insurance Company of America to insure around 7 billion pounds of pensioner liabilities.

Insurer Zurich expects to beat targets as profits jump

Zurich Insurance Group hailed its best performance in a decade this morning after reporting a double-digit rise in profits and predicting that it would beat previous financial goals it had set.

Global insurance prices rise again

Global commercial insurance prices have increased more in the last quarter than in any other three-month period over the last seven years, new data from Marsh has revealed.

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