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

London stocks higher yesterday as Chancellor announces more support for businesses

The FTSE 100 index .FTSE has closed yesterday afternoon at 0.2% higher while the FTSE 250 .FTMC increased by 0.6% after opening lower earlier that day. These increases were led by insurers, travel and leisure and banks.

AXA XL confirms withdrawal from the London market

AXA XL has stated that they will be withdrawing from the financial institutions and underwriting management liability business in the London market. Their financial liability business in APAC, the Americas and Europe will not be affected by this withdrawal.

WTW price index shows car insurance premiums dropped by 1%

Comprehensive car insurance premiums have fallen by 1% in the third quarter of 2020 due to the Covid-19 pandemic according to Willis Tower Watson’s Car Insurance Price index released in partnership with confused.com.

UK fintech Mode stocks rise by 9% after adopting Bitcoin

Digital banking app, Mode, has announced that it will hold cash reserves in Bitcoin causing their stocks to jump 9%; following investments made by US tech firms Square and Microstrategy into Bitcoin.

Chancellor announces new government scheme to support businesses during pandemic

The chancellor has announced more support for jobs and workers affected by the Covid-19 restrictions as they have increased in certain parts of the UK. The new changes to the Job Support Scheme (JSS) will replace the furlough scheme in November and pay up to half of wages.

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