KPMG

UK insurance execs not confident in City’s future as a financial hub: KPMG

More than half of UK insurance executives are not confident that London can maintain its position as a global financial centre over the next three years, indicating lower levels of optimism compared to other areas of financial services, according to a new study by KPMG UK.

Lloyd’s Europe presents flood risk AI system with inaugural innovation award

Lloyd’s has announced Reor20 as the winner of its inaugural Europe Innovation Competition, recognising the insurtech’s efforts to address protection gaps through an AI system for flood risk understanding and mitigation.

KPMG’s Jackson: ESG data will improve as net-zero timeframe gains urgency

Building understanding of climate change across a business will be a critical step in helping firms transition towards net zero, according to KPMG’s Roger Jackson.

Aspen appoints EY to replace KPMG as auditor after identifying weaknesses in internal controls

Bermuda (re)insurer Aspen Insurance Group has appointed EY to replace KPMG as its new auditor after the Bermudian (re)insurer discovered ”material weaknesses” in its internal controls over financial reporting.

KPMG UK promotes Jones to head of insurance practice

KPMG has appointed Trevor Jones as the new head of its insurance practice in the UK.

ABI director general Evans to leave for KPMG

KPMG has named Huw Evans as a partner in its insurance practice, with the current director general of the Association of British Insurers (ABI) set to join the advisory firm in January 2022.

FRC completes £6mn investigation into KPMG Lloyd’s audit failures

The Financial Reporting Council’s (FRC) investigation – which resulted in a £6mn ($7.7mn) fine for KPMG – into the preparation and audit of accounts for Equity Red Star (Syndicate 218 at Lloyd’s) came to a close last week after the best part of seven years.

Asia poised for substantial insurtech growth: KPMG

Insurtech “matured significantly as a sector” last year, with 13 deals worth more than $100mn each, according to a new KPMG report.

Helping to resolve the growth conundrum

Almost every primary insurer is articulating a desire for growth – whether that is organic or through acquisition. Indeed, eight out of ten insurance companies with $1.5bn (£1.13bn) in annual revenue will look to acquisitions and partnerships in search of growth over the next three years according to a new global survey by KPMG. So, insurers need partners in their search for growth and this is where we, as reinsurers, have a key role to play, explains Jim D’Onofrio, Executive Vice President & General Manager, LM Re US.