News

Willis Towers Watson has today announced a partnership with insurance software provider, RDT, which will see the broker roll out its Radar Live price delivery platform.
Posted: 2019-10-15
The British Insurance Brokers’ Association has revealed details about its annual conference for 2020. The event will to be held in Manchester Central on 13 and 14 May 2020 with the theme ‘The Year to Pioneer’.
Posted: 2019-10-15
A man was sentenced to three years and one month in prison for attempting to make a series of fraudulent claims against a number of insurers. He also siphoned £18,000 from his employer, a claims management company, and attempted to divert almost £17,000 more.
Posted: 2019-10-14
The Financial Conduct Authority has issued a warning about a scheme whereby fraudsters are using the details of a business authorised by the regulator – most recently Twickenham-based Broker Insurance Services.
Posted: 2019-10-14
Royal London has introduced three new features to improve its income protection cover for NHS medical professionals, if they are unable to work due to long-term illness.
Posted: 2019-10-14
MS Amlin has today confirmed its withdrawal from the aviation insurance market on both renewal and new business. The firm said that this change would not affect the aviation hull war portfolio, which will continue to be underwritten by the existing war team.
Posted: 2019-10-14
Generali UK has today launched a new mental health diagnosis service, in partnership with Best Doctors. The service is designed for Group Income Protection policyholders’ employees and their families. The insurer said it will be integrated into their existing mental health pathway, which may be tailored to individual employee and employer requirements.
Posted: 2019-10-14
Car insurance premiums have dropped by 1%, or the equivalent of £6, in Q3 2019, reflecting an ongoing trend of price fluctuations. This is according to data from Willis Towers Watson, based on price data compiled from almost six million customer quotes per quarter.
Posted: 2019-10-11
Coplus has launched a bespoke solution for first- and third-party motor claims management that uses ML and AI to improve efficiency and reduce costs.
Posted: 2019-10-11
Aon's reinsurance solutions business established a London-based global wholesale committee. The committee is chaired by the head of the Americas division in London for the firm’s reinsurance solutions business, Bill Fearnley-Whittingstall.
Posted: 2019-10-10
Seventeen Group has published its results for 2018. It reported a 12.5% revenue increase, at £18.5m compared to £16.4m in 2017. Pre-tax profit declined to just over £812,000 in 2018 from £1.27m the previous year. The drop was said to be down to the increased amortisation charges incurred following the acquisitions.
Posted: 2019-10-10
Premium income in the London company market increased to £28.4bn in 2018. GWP in London was £19.5bn, with £8.9bn written elsewhere but overseen and managed by London operations. International Underwriting Association data shows an overall rise of 8.1% (£2.1bn) on the previous 12 months and follows a 16% jump on the previous year.
Posted: 2019-10-10
Insurtech company Cuvva has appointed the Lloyd’s of London’s Bruce Carnegie-Brown as chairman. He succeeds Nick Parker, who has served at this role with Cuvva since the firm was established.
Posted: 2019-10-10
British drivers are unaware of the requirement for a motor insurance Green Card in a no-deal Brexit scenario. The research, commissioned by the British Insurance Brokers’ Association and the Association of British Insurers, surveyed 2,000 UK motorists.
Posted: 2019-10-10
BMS Group has announced the completion of a significant equity investment by British Columbia Investment Management Corporation and Preservation Capital Partners. The investment, first announced in June, values BMS at £500m.
Posted: 2019-10-09
AXA has today launched a new information tool designed for travellers with pre-existing medical conditions. The Travel Health Calculator was developed by emergency medical assistance experts CEGA, a Charles Taylor subsidiary.
Posted: 2019-10-09
French subsidiary of Admiral, L'olivier, is deploying AI in the fight against motor insurance fraud. The solution, developed by Shift Technology, recovers the insurer’s data (claims data, contracts, survey reports, etc) and analyses external information such as meteorological data, satellite images and web data.
Posted: 2019-10-09
Global broking business Brokerslink has established a European regional steering team to support the global expansion of its network, strengthen communications between its European brokers and develop products and services with the company’s partner insurers.
Posted: 2019-10-08
Fitch Ratings has affirmed Japan-based Tokio Marine & Nichido Fire Insurance Co's Insurer Financial Strength Rating as AA- with a stable outlook. TMNF is a core company of Tokio Marine Holdings.
Posted: 2019-10-07
Liberty Mutual Re has announced plans to restructure its financial risks reinsurance team in Europe, following the recently completed acquisition of Nationale Borg Reinsurance.
Posted: 2019-10-07
Ecclesiastical has retained its top spot in the Fairer Finance Home Insurance League table, beating 49 competitors including John Lewis, NatWest, Co-operative Insurance and Aviva. The firm has topped the table for the tenth time.
Posted: 2019-10-07
Munich Re has increased its stake in Next Insurance, by investing an additional US$250m (£203m). The reinsurer will now own 27.5% of the Californian firm, which provides bespoke digital insurance solutions to SMEs in the US market.
Posted: 2019-10-07
Hokodo is to partner with online grain marketplace, Graindex to help protect agri-businesses from financial losses. A Guaranteed Payment Collection service will cover purchases made through Graindex, as trades take place and will be available to all Premium farmers.
Posted: 2019-10-04
Liberty Mutual has completed the takeover of the businesses and operations of Nationale Borg, Nationale Borg Reinsurance and AmTrust Insurance Spain, having meet the customary closing conditions.
Posted: 2019-10-04
S&P Global Ratings has affirmed North P&I Club’s ‘A’ credit rating and stable outlook. North reported an increase in free reserves in 2018/19 and says it “continues to hold capital adequacy above the ‘AAA’ benchmark”. S&P expect the firm to maintain the rating over the two-year outlook period.
Posted: 2019-10-04
The Financial Conduct Authority has today published the interim report of its market study into the pricing of home and motor insurance, expressing its concern over the fairness of pricing practices and competition in the market.
Posted: 2019-10-04
The interim report published today by the Financial Conduct Authority has generated the expected reactions across the industry. The regulator expresses concerns and indicated it was considering introducing several remedies. Although some expressed reservations towards the restrictions or outright banning of some practices, most have welcomed the report.
Posted: 2019-10-04
Aviva has launched a website designed to assist group protection and health advisers with their marketing efforts. The Adviser Resource Hub is free to use and offers practical tips and tools.
Posted: 2019-10-04
Green Insurance Group, the South East hub business of Global Risk Partners has purchased East Kent-based Millards Insurance Services, for an undisclosed amount. The acquisition is the broker’s third in 2019, after Reid Briggs and Clifton Morley in May, and the sixth since GRP’s investment in Greens in 2017.
Posted: 2019-10-04
Direct gross written premium in the EU reached €1.3trn (£1.2trn) in 2018, including €407bn (£362bn) in P/C premiums and €140bn (£125) in health. This is according to a survey from industry association, Insurance Europe, which has just published its annual data on the European insurance industry.
Posted: 2019-10-03
Canopius Group has today completed the merger of AmTrust at Lloyd’s. The firm said that the deal will provide it with “significant additional underwriting expertise and a broader product offering”.
Posted: 2019-10-03
AXA XL has launched a new cover designed to help Uber drivers across the UK offset loss of earnings if they are unable to work, in the event that their vehicle is immobilised for a minimum of 24 hours following an accident.
Posted: 2019-10-03
Allianz UK has announced the opening of its new commercial premises on Waterloo Street, Glasgow, in the “heart of the Scottish insurance market”.
Posted: 2019-10-03
Markel International has announced the sale of its operations in Brazil. Markel Seguradora do Brasil will operate in the direct insurance market in various classes throughout the country, with a focus on agricultural business.
Posted: 2019-10-02
MS Amlin has announced plans to refocus its core business on European commercial insurance, P/C and marine and high-value reinsurance, pulling out of nine classes of business in a transformation slated for completion by 2023.
Posted: 2019-10-01
Almost two-thirds of brokers believe the Insurance Distribution Directive (IDD) has had a positive impact on the industry, with the figure rising to three-quarters of national brokers.
This is according to a study conducted by Ecclesiastical Insurance which surveyed 250 UK brokers to understand the IDD’s significance.
Posted: 2019-10-01
Police forces across England, Wales and Northern Ireland are set to carry out a month-long campaign targeting uninsured vehicles. Operation Drive Insured, developed by the Motor Insurers’ Bureau and the NPCC’s National Roads Policing Intelligence Forum aims to help improve road safety and raise public awareness of the issue.
Posted: 2019-10-01
The EU Commission has approved the acquisition of L&G’s insurance arm by the British subsidiary of Allianz Group.

Both firms announced in May they had reached an agreement for the acquisition by Allianz of 100% of L&G Insurance, for an amount of £242m.
Posted: 2019-09-30
The Personal Injury Discount Rate will remain unchanged at RPI minus 0.75% in Scotland, a different rate to that applied in England and Wales. Scotland has the power to establish its own Ogden rate, with Government Actuary Martin Clarke serving as rate assessor.
Posted: 2019-09-30
Car insurance premiums have risen 0.7% over a three-month period, in the aftermath of the Ogden discount rate change. Covers are now 2% higher than a year ago. This is according to a study conducted by data analytics company, Consumer Intelligence.
Posted: 2019-09-30
Lloyd’s has unveiled its Blueprint One document, part of its overarching Future at Lloyd’s strategy – the insurance market’s modernisation plan to build the “most advanced insurance marketplace in the world”. Phase I, scheduled for delivery in 2020, will include the launch of an electronic risk exchange which could, over time, process as much as 40% of Lloyd’s risks.
Posted: 2019-09-30
Police officers and PCSOs benefit from the cheapest car insurance with an average quote of £499. This is according to a survey conducted by UK price comparison platform Quotezone.co.uk, which compared the premiums for car insurance quotes provided to nurses, driving instructors and lawyers, among other professions.
Posted: 2019-09-26
Applied Systems’ broker management tool, Applied Epic will now be available to brokers in Northern Ireland. The cloud-based software is designed to help users better manage customer relationships, sales opportunities, financial accounting and policy administration across all lines of business.
Posted: 2019-09-26
Telematics insurer, insurethebox has endorsed today’s Project EDWARD (European Day without a Road Death) road safety initiative.

Launched in 2016, the awareness project aims to deliver a day with zero fatalities on roads across Europe, and is supported across both the public and private sectors.
Posted: 2019-09-26
Zurich Insurance today unveiled the second edition of its innovation championship, which provides firms with the opportunity of collaborating with the group to grow their businesses. Three winners will work with Zurich on a local pilot with the objective of scaling it globally.
Posted: 2019-09-25
Lloyd’s of London unveiled the results of the culture survey it had launched in March, thought to be the largest ever conducted in the insurance sector, with around 6,000 participants.
Amongst the key findings, 8% of all respondents – 480 people – claimed they had witnessed sexual harassment over the previous 12 months, but less than half (45%) felt comfortable enough to raise a concern. Thirty eight per cent of respondents said they did not know who to report an issue to. Just 41% of those who did raise a concern felt they were taken seriously.
Posted: 2019-09-25
Research suggests that insurers answer less than half of all queries asked online, lagging behind retailers, the banking sector and the travel sector. This is according to a study conducted by digital customer experience technology provider, Eptica.
Posted: 2019-09-25
Bupa Global has today launched two new services for expat business customers.
Global Virtual Care is a digital GP service providing support to employees and their families overseas. It grants customers 24/7 video or telephone access to multi-lingual doctors or consultants who may advise, diagnose and offer prescriptions in over 130 countries around the world. Customers can upload images and refer to their doctors’ notes post-appointment.
Posted: 2019-09-25
Thomas Cook ceased trading in the early hours of this morning.The tour operator said that following the failure of discussions with potential investors, the board felt it had “no choice but to take steps to enter into compulsory liquidation with immediate effect”. Around 600,000 people, including 150,000 British, are reported to have booked with Thomas Cook and are currently stranded abroad. The British government tasked the Civil Aviation Authority with setting up a repatriation programme for the Brits affected. The programme will run for two weeks, until 6th October. Insurers will not be involved in the repatriation of travellers.
Posted: 2019-09-23
Twenty-one insurance companies and long-term savings providers have committed to ensuring their parental leave pay policies are clearly explained on their websites. These firms are the first signatories to a transparency initiative led by the Association of British Insurers. They are Admiral, Ageas Insurance, Allianz Insurance, Aviva, AXA UK, Direct Line Group, Hargreaves Lansdown, Hiscox, LV=, M&GPrudential...
Posted: 2019-09-23
Liverpool-headquartered Granite Underwriting is to expand its underwriting, customer service, claims handling and HR operations, creating 300 new positions across both the main business and its subsidiary, Acorn Capital.
Posted: 2019-09-20
Another 30 lucky stars have joined the Allianz UK graduate programme. The new recruits have been enrolled across six schemes: actuarial, underwriting, finance, IT, claims and management. New for this year is the graduate technical underwriting scheme – or ‘a home for those who love data’ – an acknowledgement of the increasing relevance of data and pricing skills, on top of traditional underwriting methods.
Posted: 2019-09-20
John Blundell, the managing director of Ecclesiastical's UK general insurance business, has announced he will retire in 2020. His career in the insurance industry that lasted 35 years, including roles with Norwich Union, Sterling, Covéa, prior to Ecclesiastical
Posted: 2019-09-19
Following a 40-year career in the industry, Jürgen Gerke, CEO of Allianz Capital Partners, the private equity firm of Allianz Group, is to retire at the end of the year upon completion of his contract.
Posted: 2019-09-19
Charles Taylor has agreed to a £260m takeover by a Lovell Minnick Partners-backed firm, Jewel Bidco Ltd. The offer price of 315 pence per share represents a 34% premium on Charles Taylor's closing share price of 235 pence at close yesterday.
Posted: 2019-09-19
Insurers invested the equivalent of £8.9bn between 2016 and 2018 in insurtech, compared with £4.4bn during the 2010–2015 period – a considerable uptick in the sector. This is according to research, conducted among 1,900 insurtech firms, by everis and NTT DATA, which ranks investments according to specific technologies.
Posted: 2019-09-18
ARAG and Morrison Insurance Solutions have developed a product that specifically targets special guardians. The cover will be distributed via non-profit organisation FosterTalk, as a benefit for its 'special guardian' members. The new policy covers the legal costs of defending both civil and criminal proceedings; legal representation for an interview under caution and appealing against a decision by a court to discharge a Special Guardianship Order relating to a child. It also offers 24/7/365 telephone advice.
Posted: 2019-09-18
The American branch of Generali Group has launched a specialty insurance division offering global warranty programmes. Aimed at consumer retailers and dealers, TPAs and other consumer-facing entities, the new offering will provide warranty services for a variety of consumer products, such as motor vehicles, watercraft, travel trailers, new homes, home systems, major appliances, televisions, consumer electronics as well as computers.
Posted: 2019-09-18
UK-based insurtech startup Pluto announced the launch of a mobile app targeting the 62% of British people that do not purchase travel insurance – a figure identified by a recent YouGov study which pointed to a profound lack of trust in insurers. Pluto says its new app will address this problem, and in turn will restore a certain level of trust in travel insurance.
Posted: 2019-09-17
Autoline Insurance has partnered with dash cam manufacturer MiTAC Digital Technology and insurtech company, Inzura, to enhance its smartphone app, which is provided to its ChilliDrive young driver insurance policyholders. The app monitors location, speed, dates and times of every journey while the dash cam automatically records footage in the event of an accident. The footage is then sent to insurers – providing them with a FNOL – with no human intervention required.
Posted: 2019-09-17
Research reveals that 38% of British homes have installed some type of smart home tech security to deter intruders. The average value is estimated at £341 per household, and the most popular devices used are smart surveillance cameras (38%), closely followed by video doorbells (33%).
Posted: 2019-09-16
Arch Insurance and Marsh have today launched Blue Vault, providing global cover for the secure storage of private keys held in traditional vault facilities. It is the first insurance solution of its kind to be placed in the specie insurance market. It is backed by syndicates Arch 2012 and Canopius 4444, as well as other syndicates and underwriters at Lloyd’s of London.
Posted: 2019-09-16
Hyperion Insurance Group plans to combine its retail and specialist broking businesses – Howden and RKH – under one management team. The merging of the two broking operations will lead to the phasing out of the RKH brand. It will become known as Howden Specialty and Reinsurance.
Posted: 2019-09-12
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