The FCA has warned insurance firms that they must improve clarity on commissions they pay to intermediaries on insurance products and prove that commissions are not excessive.

The Financial Conduct Authority has today fined Lloyds Banking Group’s general insurance arm nearly £91m for false promises on renewal premiums over an eight year period.

The Chartered Insurance Institute (CII) has appointed Peter Blanc, CEO of chartered insurance broking firm Aston Lark, as its president for 2022.

ABI director general Huw Evans is to quit at the end of the year for a new role as a partner at KPMG in its insurance and long-terms savings practice.