Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • December 2013
12

Insurers to invest £25bn in UK infrastructure

Open-access content Wednesday 4th December 2013 — updated 5.13pm, Wednesday 29th April 2020

Chief Secretary to the Treasury Danny Alexander has announced that six insurance firms have committed to invest £25bn in capital projects across the UK over the next five years, covering energy, transport, flood defence, waste, water and communications infrastructure

Alexander announced that the firms - Prudential, Aviva, Legal & General, Standard Life, Friends Life and Scottish Widows - have made the commitment following negotiations with the Treasury and the Association of British Insurers. 

Announcing the investment as part of the Autumn Statement update to the National Infrastructure Plan, Alexander said the investment pot was 'a massive vote of confidence in the UK economy'. 

He added: 'It supports the wider £100bn public investment to rebuild Britain over the next seven years that I announced at the Spending Round 2013. 

'This is great news for the people of the UK because after years of neglect, the UK's energy, road, rail, flood defence, communications and water infrastructure needs renewal. It will boost the UK economy, creating jobs and making it easier to do business. It will also make the UK a better place to live for everyone who calls it their home.'

Otto Thoresen, the director general of the Association of British Insurers, added: 'Insurers have a key role to play in contributing to the UK's economic growth, as providers of long-term capital investment. Providing capital for infrastructure projects will help drive a competitive, healthy and resilient UK economy.'

Today's revised NIP, which includes 646 projects worth £375bn to be delivered by both the public and private sector, also set out government plans to create a new 'infrastructure court'. This would tackle delays in the planning system by reducing the impact of 'meritless' judicial review claims.

This article appeared in our December 2013 issue of The Actuary .
Click here to view this issue

You may also be interested in...

Dubai health insurance law enacted

Plans to introduce mandatory health insurance for all citizens, residents and visitors in Dubai from next year will create opportunities for insurance firms, an investment fund has said
Tuesday 3rd December 2013
Open-access content

Competition Commission issues damning verdict on motor insurance market

The £11bn motor insurance market is not working well for consumers, the Competition Commission said today as it published the interim findings of its investigation
Tuesday 17th December 2013
Open-access content
2

European insurance and pensions firms proving 'resilient', says EIOPA

The risks facing the insurance and pensions sectors in the European Union have remained fairly stable since the summer, with profitability and solvency showing relative resilience, the regulator said today.
Thursday 12th December 2013
Open-access content
2

Solvency II progress unlocks insurer infrastructure investment

Insurer Aviva has today announced that European agreement on the implementation of the Solvency II regulations has allowed it immediately to commit £500m to invest in UK infrastructure projects.
Thursday 19th December 2013
Open-access content

Pensioners urged to shop around for best annuity deal

Pensioners lose nearly one-fifth of their retirement income by taking the annuity offered to them by their pension provider without shopping around, a report has revealed today
Wednesday 4th December 2013
Open-access content

DB pension scheme deficits stable in November

The ‘stubbornly high’ deficits of UK companies defined benefit pension schemes remained unchanged over the month of November, Mercer said today.
Wednesday 4th December 2013
Open-access content

Latest from General Insurance

td

Brain power

The latest microchips mimic cerebral function. Smaller, faster and more efficient than their predecessors, they have the potential to save lives and help insurers, argues Amarnath Suggu
Wednesday 1st March 2023
Open-access content
bl

'Takaful' models of Islamic insurance

Ethical, varied and a growing market – ‘takaful’ Islamic insurance is worth knowing about, wherever you’re from and whatever your beliefs, says Ali Asghar Bhuriwala
Wednesday 1st February 2023
Open-access content
il

When 'human' isn't female

It was only last year that the first anatomically correct female crash test dummy was created. With so much data still based on the male perspective, are we truly meeting all consumer needs? Adél Drew discusses her thoughts, based on the book Invisible Women by Caroline Criado Perez
Wednesday 1st February 2023
Open-access content

Latest from December 2013

ta

Trustees urged to complete TPR toolkit

Pension scheme trustees have been urged to bring themselves up to speed with key retirement policies and legal developments by completing new modules in The Pension Regulator's trustee toolkit.
Thursday 31st July 2014
Open-access content

Driverless cars 'require new insurance approach'

There needs to be a fresh approach to motor insurance if driverless cars are to become a feature of the UK road landscape, a senior industry leader has claimed.
Wednesday 30th July 2014
Open-access content

Annuity sales 'down 44% over the year'

There was a 44% drop in annuity sales in June when compared to the same month last year, according to research by financial systems provider IRESS.
Wednesday 30th July 2014
Open-access content

Latest from no_opening_image

TPR publishes coronavirus guidance

The Pensions Regulator (TPR) has published guidance to help UK pension trustees, employers and administrators deal with the financial and regulatory risks posed by coronavirus.
Monday 23rd March 2020
Open-access content
web_p24_cat-and-fish_iStock-483454069.png

Sensitivity analysis: swimming lessons

Silvana Pesenti, Alberto Bettini, Pietro Millossovich and Andreas Tsanakas present their alternative approach to sensitivity analysis
Wednesday 4th March 2020
Open-access content
ta

IFoA adjudication panel: Mr Jack Wicks, student

On 30 October 2019 the Adjudication Panel considered an allegation of misconduct against Mr Jack Wicks (the respondent).
Friday 28th February 2020
Open-access content

Latest from 12

ta

Trustees urged to complete TPR toolkit

Pension scheme trustees have been urged to bring themselves up to speed with key retirement policies and legal developments by completing new modules in The Pension Regulator's trustee toolkit.
Thursday 31st July 2014
Open-access content

Driverless cars 'require new insurance approach'

There needs to be a fresh approach to motor insurance if driverless cars are to become a feature of the UK road landscape, a senior industry leader has claimed.
Wednesday 30th July 2014
Open-access content

Annuity sales 'down 44% over the year'

There was a 44% drop in annuity sales in June when compared to the same month last year, according to research by financial systems provider IRESS.
Wednesday 30th July 2014
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Investment Consultant

Scotland / Scotland, Edinburgh / London, England
Up to £70000.00 per annum
Reference
148689

Market Risk Capital Actuary/Quant

London (Central)
£65,000 - £115,000 plus bonus and package
Reference
148688

Experience Analysis Contractor

England
Negotiable
Reference
148687
See all jobs »
 
 
 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ