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

Amazon prepares to launch motor insurance in India

Amazon is planning to sell car and motorcycle insurance with the first launch happening this year in India. An analyst from GlobalData has said that this will lead to an enormous global reach with can make it a strong competitor for other insurers across the globe.

Willis Towers Watson partners with the University of Oxford to research cyber risks

Willis Towers Watson, an insurance and reinsurance broker has partnered with the University of Oxford in a collaboration to conduct research into the key areas of cyber security risk.

London Homeowners pay 31% more insurance than UK average

Figures from Quotezone, an insurance comparison website, has found that homer owners in London pay 31% more than the UK average to insure property and contents; with the standard UK home insurance policy being £132 whereas in London it rises to £174.

Lloyd’s to pay £5bn in Covid-19 insurance payouts

Insurance market, Lloyd’s of London, has said that it expects to pay £5bn in insurance payouts relating to the coronavirus pandemic. This comes after they have reported that in the first half of 2020, the claims totalled £2.4bn.

First woman CEO appointed at Wall Street bank

Citigroup has promoted Jane Fraser, Consumer Banking Head as the next chief executive of the Wall Street bank. This will make her the first woman to ever be appoint this role and lead a major Wall Street bank.

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