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The Latest Breaking News from the Association of British Insurers

Why sales of pension annuities are on the rise

The Association of British Insurers indicated that the total value of premiums paid into individual pension annuities reached £7.4 billion in 2025

The Independent UK

Jump in sales of pension annuities valued at over £250,000 and £500,000

The higher value of premiums has gone alongside a rise in over-70s buying a regular income with annuities, the Association of British Insurers said.

Evening Standard

Record £4.6bn in property insurance payouts made this year, figures show

Bad weather accounted for around a fifth of the value of property claims, the Association of British Insurers said.

Evening Standard

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More than £1.1bn of fraudulent general insurance claims detected in 2024 – ABI

Insurers uncovered over 98,400 fraud-related claims in 2024, a 12% rise from 88,100 in 2023, according to the ABI’s figures.

Evening Standard

Drivers losing thousands to ghost broker scams – the red flags to watch out for

Anti-fraud bodies have warned the impact on victims buying fake motor insurance policies can be ‘devastating’.

The Independent UK

Storms and flooding took record toll on insurance claims in 2024 – ABI

The Association of British Insurers said it has ‘long stressed’ the need for further investment in flood defence and maintenance.

Evening Standard

Record £4.1bn paid out in property claims this year so far – ABI

Flood prevention and resilience must be considered in all planning decisions and building standards, the Association of British Insurers said.

The Independent UK

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Average cost of motor cover £50 higher than a year earlier

While insurance prices are higher on an annual basis, the average cost of cover has fallen when compared with the previous quarter.

Evening Standard

Home Office launches new charter in ‘crackdown’ on insurance fraud

It comes as fraudulent insurance claims detected by the Association of British Insurers (ABI) topped £1.1 billion in 2023.

Evening Standard

£1.1bn-worth of bogus insurance claims detected last year

More than half of detected bogus claims last year involved motor insurance, the Association of British Insurers said.

The Independent UK

Record 4.4m people took out pet insurance last year, figures show

Around 1.7 million more people have pet insurance than a decade ago, the Association of British Insurers said.

The Independent UK

Record £9.9bn paid out in motor insurance claims last year, says ABI

Payouts for repairs, thefts and replacement vehicles increased, the Association of British Insurers said.

Evening Standard

UK car insurance cost up by third but just 2% in France

Disparity, along with lower increases for car cover in rest of Europe raises questions about motor insurance in Britain

The Guardian - UK

‘Just when we need them most’: Britain’s car share clubs face closure as last insurer pulls out

The community-owned car pools have been hailed as a greener alternative to full-time ownership, but insurers say driver risk is hard to measure

The Guardian - UK

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The Independent UK

Motorists warned to watch out for thieves targeting vehicles left to defrost

Motor insurance policies may exclude theft where keys are left in the ignition, the Association of British Insurers said.

The National (Scotland)

Can you claim compensation for storm damage? Here's everything you need to know

When it comes to storm damage, it's not all about electricity and power failures.

Evening Standard

Luton airport fire: ‘Unlikely any vehicles will be salvageable’ after blaze

London Luton Airport said it had responded to almost 16,500 customer queries since the fire broke out on Tuesday evening

The Independent UK

‘Unlikely any vehicles will be salvageable’ at Luton Airport after car park fire

London Luton Airport said it had responded to almost 16,500 customer queries since the fire broke out on Tuesday evening.

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The Independent UK

Insurers urge ‘extreme caution’ by Government over potential pension changes

The central purpose of DB pension schemes to pay the benefits promised to members should not be undermined, the Association of British Insurers said.

The Independent UK

Insurance scams drop by nearly a fifth, but value jumps as fraudsters ‘aim big’

The Association of British Insurers said the number of fraudulent claims dropped by 19% to 72,600 last year, marking the lowest figure since 2005.

The Guardian - UK

UK drivers shocked as car insurance costs soar by up to 90%

The price of petrol and diesel may have dropped but households are being hit by another rising cost

The Independent UK

Travel insurers ‘dealt with one new claim every two minutes typically in 2022’

Travel insurers dealt with 362,000 claims in 2022, surging by 148% compared with 2021, according to the Association of British Insurers.

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