News

Insurer Chubb has signed a deal to provide cover including purchase protection, refund protection and ticket cancellation to customers of online bank Revolut.
Posted: 2021-01-20
Zurich UK is to offer free counselling to customers hit by flooding to counter the impact of extreme weather on mental health.
Posted: 2021-01-20
Travel insurers are under pressure to beef up cover at a time when demand for policies is falling.
Posted: 2021-01-20
Insurtech Aventus has developed an application programme interface to enable insurers, brokers and MGAs to integrate with multiple price comparison websites through a single platform.
Posted: 2021-01-20
Services and technology solutions provider Charles Taylor has launched a counter fraud division.
Posted: 2021-01-19
Broker Marsh has named Tom Colraine as chairman of its UK operations. He has been a non-executive director of the business since 2018 and succeeds Jane Baker with immediate effect.
Posted: 2021-01-19
Consultancy Mactavish believes only a small proportion of the firms covered by the Financial Conduct Authority’s class action on COVID-19 business interruption losses will receive payouts as a result of the Supreme Court ruling.
Posted: 2021-01-18
FL360, trading as Handl Group, has added Reach Personal Injury Services to its portfolio management business for an undisclosed amount.
Posted: 2021-01-18
Technology provider Artesian Solutions has launched Artesian Connect, which combines advances in data science with an underwriter’s existing business-rules, policies and regulatory requirements.
Posted: 2021-01-18
Specialist Risk Group has acquired managing general agent GB Underwriting, which specialises in providing property and liability solutions to brokers with building and construction sector clients.
Posted: 2021-01-15
Lloyd’s has won approval from the Financial Conduct Authority and the Prudential Regulation Authority for a new multi-insurance special purpose vehicle.
Posted: 2021-01-15
Premiums for comprehensive car insurance have fallen by 6% in 2020, according to the latest Confused.com Car Insurance Price Index in association with Willis Towers Watson.
Posted: 2021-01-15
The Supreme Court has today delivered its judgment in the Financial Conduct Authority’s business interruption insurance test case. It has substantially allowed the FCA’s appeal on behalf of policyholders, meaning that thousands of policyholders will now have their claims for coronavirus-related business interruption losses paid.
Posted: 2021-01-15
The British Insurance Brokers’ Association has announced John Glen MP, Economic Secretary to the Treasury and City Minister, as its first keynote speaker, at its strengthening resilience themed annual conference.
Posted: 2021-01-14
Howden Group has unveiled an investment of £62m in Tamesis Dual, the reinsurance division of Dual group, which is part of Howden Group.
Posted: 2021-01-14
Gallagher has agreed to buy The Bollington Wilson Group in a deal that is subject to regulatory approval.
Posted: 2021-01-13
Loss adjuster Woodgate and Clark has acquired Manchester-based Quadra Claims Services.
Posted: 2021-01-13
FM Global has received an A+ (Superior) financial strength rating affirmation with a “stable” outlook from AM Best.
Posted: 2021-01-13
The Chartered Insurance Institute’s Public Trust Index has found trust in the travel insurance claims process has collapsed during the COVID-19 pandemic, although there is greater confidence in motor insurers’ abilities to settle claims swiftly.
Posted: 2021-01-13
Heath Crawford and Foster has acquired ABA Insurance Services Ltd and Bradshaw Bennett (Lancashire) Ltd. It has also exchanged contracts to purchase the clients and goodwill of an unnamed London broker.
Posted: 2021-01-12
Specialist intermediary New Dawn Risk has established a new division to focus on the UK. It will provide liability and speciality solutions direct to clients and partner with regional brokers.
Posted: 2021-01-12
Broker Aon is offering a new fuel insurance solution for clients with heavy fuel consumptions.
Posted: 2021-01-12
Law firm DAC Beachcroft has established an advocacy service focusing initially on insurance-related disputes.
Posted: 2021-01-11
Ecclesiastical Insurance has encouraged wardens to protect their premises after a targeted campaign caused over £2m in damage to remote countryside churches.
Posted: 2021-01-11
Seventeen Group recorded revenue or £22.7m for 2019, an increase of 23% on the previous year. The intermediary reported EBITDA of £3.1m, up 26% on 2018.
Posted: 2021-01-11
Zurich will provide Pen Underwriting with capacity in excess of £165m in premium over the next five years for its hazardous goods and environmental industries’ motor fleet proposition.
Posted: 2021-01-08
HX, the digital division of Howden Group Goldings has teamed up with Experti.ai to expand its data analytics abilities.
Posted: 2021-01-08
Jeff Brinley has taken up the post of CEO at Be Wiser Insurance. He replaces Sharon
Beckett, who stepped down from her role at the start of the month.
Posted: 2021-01-08
Global broker Marsh has established a Sharing Economy & Mobility industry group in the UK & Ireland to better support clients in this sector.
Posted: 2021-01-07
The Managing General Agents’ Association has appointed Julia Coakley to its executive team as head of operations.
Posted: 2021-01-07
Claims solutions and environmental risk management provider Global Risk Solutions has acquired energy sector adjusting and consultancy firm R Winkler & Co.
Posted: 2021-01-07
Global Risk Partners Ltd has acquired Birmingham-based Newstead Insurance Brokers, which focuses on writing corporate, SME and private client insurance.
Posted: 2021-01-06
Specialist Risk Group has acquired KBIS British Equestrian Insurance. In addition to all aspects of equestrian insurance, KBIS offers property, liability and motor policies.
Posted: 2021-01-06
Insurance professionals say a drop in business volumes will be the biggest operational threat they face in 2021.
Posted: 2021-01-06
Alan Stevenson Partnership and Seacombe Insurance Brokers have merged after Ataraxia and Minority Venture Partners completed a dual investment in the two brokers.
Posted: 2021-01-05
Aston Lark has acquired Lloyd’s broker CRS Yachts following the purchase of MS Amlin’s marine pleasure craft book towards the end of last year.
Posted: 2021-01-05
Managing general agent Nexus Group has purchased Hiscox MGA Marine via an asset purchase into Millstream Underwriting Limited, a Nexus Group company which specialises in consumer insurance.
Posted: 2021-01-05
Reinsurer MS Amlin AG has appointed Charles Goldie as chief underwriting officer. He will take up the role in Q1 and report to CEO Chris Beazley.
Posted: 2020-12-21
The Chartered Insurance Institute has commended the environmental, social and governance report published by Lloyd’s, which detailed its commitment to stop fossil fuel underwriting by 2030.
Posted: 2020-12-18
Insurer RSA has announced it is distributing £283,500 worth of grants to 168 community organisations in the UK through its community grant programme.
Posted: 2020-12-18
Lloyd’s has teamed up with cargo insurance, logistics, data and global health specialist Parsyl, to launch the Global Health Risk Facility. GHRF is an alliance of insurance and technology partners that will provide insurance and risk mitigation services to protect and support the global distribution of COVID-19 vaccines. The launch of the GHRF includes support from the US International Development Finance Corporation which has approved up to £20m for the facility.
Posted: 2020-12-17
Loss adjuster Woodgate & Clark has opened a new office in Northern Ireland and appointed Mark Lindsay to run the operation.
Posted: 2020-12-17
Severe storms and wildfires have generated global insured catastrophe losses of £56bn in 2020, up 40% on the previous year according to figures from Swiss Re.
Posted: 2020-12-16
Co-op Insurance has teamed up with By Miles, to offer pay-by-mile motor insurance to customers
Posted: 2020-12-16
Insurer CFC has upgraded its UK terrorism and sabotage policy.
Posted: 2020-12-16
Intermediary Global Risk Partners has acquired a majority stake in online commercial broker Insync Insurance Solutions.
Posted: 2020-12-15
The D&O market faces a litany of new and heightened risks in 2021 on the back of the volatile business environment created by COVID-19.
Posted: 2020-12-15
Motor and home insurer members of the Association of British Insurers have extended support to policyholders affected by COVID-19 until 19th March 2021.
Posted: 2020-12-15
Admiral Group has confirmed that co-founder and CEO David Stevens will step down at the end of the year, following the successful handover of duties to incoming CEO , Milena Mondini de Focatiis.
Posted: 2020-12-14
The Chartered Insurance Institute will appoint a fourth engagement board member in 2021 to add to the three recent recruitments to further represent members’ voices in board-level decisions.
Posted: 2020-12-14
To avoid further event cancellations in 2021, the Let LIVE Thrive campaign has written an open letter urging the government to underwrite a COVID-19 contingency insurance product.
Posted: 2020-12-11
The British Insurance Brokers’ Association has launched its National Young Broker Committee. Made up from its current Young Broker ambassadors it will advise the main board on issues facing younger professionals.
Posted: 2020-12-11
Covéa Insurance has launched an affinity deal with Checkatrade, the online directory of trade services.
Posted: 2020-12-10
The COVID-19 pandemic caused 15% of UK SMEs to cancel their employers’ liability policy with further disruption due in the coming year.
Posted: 2020-12-10
Tesco Underwriting has teamed up with customer experience specialist Netcall to overhaul its complex claim handling processes. The insurer underwrites Tesco Bank-branded car and home insurance policies and provides claims services to customers. It commissioned Netcall to review its existing ways of working, processes and technology for complex claims.
Posted: 2020-12-09
Digital insurance company Getsafe has raised £22m in Series B funding led by Swiss Re’s digital platform iptiQ, taking the total amount of funding raised to £40m.
Posted: 2020-12-09
Intermediary Ceta Insurance will offer brokers Amazon vouchers or pre-pay cards from Visa or Mastercard when they write business on its infinity platform.
Posted: 2020-12-09
Insurer Admiral’s retention rates for motor customers have jumped to 81% from the 68% recorded a year ago following its decision to refund £25 to policyholders during the lockdown.
Posted: 2020-12-08
Broker Be Wiser has announced a string of board level recruits in a reshuffle it said was aimed at boosting growth and customer engagement plans.
Posted: 2020-12-08
Demand for cyber insurance is gaining traction in the mainstream personal lines market, according to GlobalData’s 2020 UK Insurance Consumer Survey.
Posted: 2020-12-08
The Chartered Insurance Institute has created guidance to help the market eradicate the gap between what customers expect policies to do and what they actually deliver.
Posted: 2020-12-08
The Guernsey Financial Services Commission has introduced a pre-authorisation pilot scheme for insurance cells.
Posted: 2020-12-07
Voyager Insurance Services has gone live with its online platform enabling brokers to get employer paid group travel insurance quotes in 6 clicks.
Posted: 2020-12-07
Markerstudy Group has completed its long-running acquisition of the Co-op Insurance underwriting business and signed up to a 13-year partnership to provide home and motor products under the Co-op brand.
Posted: 2020-12-04
New insurer Inigo has received approval in principle from the Corporation of Lloyd’s and will begin underwriting from 1st January 2021.
Posted: 2020-12-04
Insurance provider Marmalade is offering young drivers pay as you go cover for up to 3,500 miles in cars for which they are not the main named driver.
Posted: 2020-12-04
Ballantyne Brokers has launched and will target SME programme business delivered through its cloud-based technology platform.
Posted: 2020-12-03
There were 170 insurtech funding rounds in the first half of 2020, an increase of 314% over the last six years.
Posted: 2020-12-03
Howden Broking has opened an office in Reykjavik to get closer its Icelandic clients which it had previously served from its operations in Finland.
Posted: 2020-12-03
Global Risk Partners has appointed Mark Hepsworth to its board to boost the intermediary’s top-level digital understanding.
Posted: 2020-12-02
Brunel Insurance Brokers has acquired Coventry-based firm Inman & Associates for an undisclosed sum.
Posted: 2020-12-02
Home insurance premiums have softened 0.9% in the six months since April, with a typical building and contents policy now costing £150, according to consultancy Consumer Intelligence.
Posted: 2020-12-02
Insurance software company EIS has launched a digital platform to let insurers price cover for drivers, no matter whether their vehicle usage is personal or commercial.
Posted: 2020-12-02
Aegis London will increase its underwriting by 27% in 2021. On a gross premium basis, it said capacity will rise from £712m in 2020 to £918m in the coming underwriting year.
Posted: 2020-12-01
Invoice insurance intermediary Nimbla estimates that invoices worth around £250m will remain unpaid following the collapse of retailer Arcadia Group.
Posted: 2020-12-01
Axa has agreed to sell its interest in Axa Gulf, Axa Cooperative Insurance Company and Axa Green Crescent Insurance Company to Gulf Insurance Group for £200m.
Posted: 2020-11-30
SEIB Insurance Brokers has opened public nominations for charities to receive a share of the £43,000 fund the broker will donate through its SEIB Insurance Brokers Charity Awards.
Posted: 2020-11-30
Insurers are being urged to retrain staff in poorly performing departments to avoid redundancies and to tackle the growing IT skills shortage.
Posted: 2020-11-30
HX, the data and analytics division of Howden Group Holdings, says insurers have largely accounted for COVID-19 losses and are attracting new investment capital on the back of the hardening market.
Posted: 2020-11-27
Almost half (46%) of UK manufacturers say COVID-19 has damaged their Brexit supply chain plans.
Posted: 2020-11-27
More than half (54%) of Chartered Insurance Institute members believe it is not economically sustainable for the government to continue to step in as an insurer of last resort.
Posted: 2020-11-27
Listed media group Future plc is set to buy GoCo Group for £594m after announcing it had agreed terms on its recommended offer.
Posted: 2020-11-26
Aston Lark has backed the creation of new MGA Spring Partners, which has announced its launch in tandem with its acquisition of Neon Sapphire Underwriting Limited.
Posted: 2020-11-26
The Association of British Insurers has responded positively to the government’s decision to establish a National Infrastructure Bank and honour its commitment to spending on flood defences.
Posted: 2020-11-26
Vehicle management app Caura has launched a quote and buy motor insurance function for users from a panel of six insurers.
Posted: 2020-11-25
Global broking business Brokerslink aims to simplify international insurance programme management for members with the launch of a digital platform.
Posted: 2020-11-25
Underwriter and intermediary First Central Group has adopted Blue Prism’s cloud platform to support ongoing growth.
Posted: 2020-11-25
Broker Howden has acquired specialist intermediary Safeonline to boost its presence in the cyber market.
Posted: 2020-11-24
The cyber market will deliver compound annual growth of 26% over the next decade to achieve market revenue of £53bn by 2030, up from the £4bn recorded in 2019.
Posted: 2020-11-24
Broker Grove & Dean has teamed up with US technology firm CalAmp to using tracking technology to protect policyholder’s cars.
Posted: 2020-11-24
UK home insurers will save £368m in 2020 due to a reduction in claims driven by COVID-19 restrictions, according to comparison platform HelloSafe.
Posted: 2020-11-23
Risk modelling firm Praedicat has built a tool to help casualty insurers understand aggregation exposure across multiple lines of business from COVID-19 losses.
Posted: 2020-11-23
The Competition and Markets Authority has dished out a £17.9m fine to ComparetheMarket following an investigation into the use of ‘most favoured nation’ clauses for home insurers selling through its platform.
Posted: 2020-11-20
Covid-19, a hardening market and increased remote working are all creating significant challenges for insurance brokers and putting pressure on client communications.
Posted: 2020-11-20
Convex Group has secured around £755m in new investment from a consortium led by existing supporter Onex Corporation and Singaporean wealth fund GIC.
Posted: 2020-11-19
Research and advisory firm Forrester says European motor and home insurers struggle to create an excellent customer experience because of their low-touch models.
Posted: 2020-11-19
SMEs rated insurers strongly for communication during the first lockdown and the challenge for carriers is to repeat that the second time around, according to data and analytics firm GlobalData.
Posted: 2020-11-19
Enstar Group and Stone Point Capital have sold Lloyd’s managing agency StarStone Underwriting Limited and the rights to operate Lloyd’s Syndicate 1301 to Inigo.
Posted: 2020-11-18
Ardonagh Speciality has named Antony Erotocritou as managing director, expanding his role as CFO.
Posted: 2020-11-18
Credit insurance and surety intermediary Xenia Broking Group has made a hat-trick of senior leadership appointments.
Posted: 2020-11-18
Continuing its recent acquisition spree, Aston Lark has snapped up a further two brokers, Risk Alliance and Risk Alliance International. Both brokers were previously part of the Risk Alliance Group, which includes NBS, and were acquired by Accelerant in September 2019.
Posted: 2020-11-17
Ecclesiastical has again extended its temporary cover enhancements to support customers during the second nationwide lockdown. The insurer originally introduced a series of temporary cover enhancements in April following the first UK-wide lockdown.
Posted: 2020-11-17
The Chartered Insurance Institute has joined forces with Manchester Metropolitan University to help students kickstart their careers in insurance. The new partnership with will give the university’s undergraduate and postgraduate students in finance the opportunity to gain a CII qualification, in addition to their university degree through self-directed study, at a reduced rate.
Posted: 2020-11-17
Chester based community broker Daulby Reid Insurance Brokers has acquired Prestatyn based Townsends Insurance Brokers.
Posted: 2020-11-16
Gallagher has become the insurance broker for Special Olympics GB, building on it becoming a platinum partner to the global Special Olympics movement in March 2020.
Posted: 2020-11-16
Digital platform provider Instanda has launched a virtual marketplace for insurers, enabling them to pick from a number of pre-integrated technology solutions.
Posted: 2020-11-16
Figures from Zurich for the first 9 months of 2020 show a 3% rise in property and casualty gross written premium to £20.8bn.
Posted: 2020-11-13
Claimed and Shamed, the BBC One show focusing on fraud returns to the airwaves today, featuring Simon Cook, head of special investigation services at Charles Taylor Technical Services.
Posted: 2020-11-13
Professional services and technology firm Davies Group is to rebrand its Requiem intermediary services business as Davies Intermediary Support Services Limited and extend its offering to support MGAs.
Posted: 2020-11-13
Aston Lark has acquired MS Amlin’s marine pleasure craft book of business and will run it under the revived Haven Knox-Johnston brand.
Posted: 2020-11-12
Travel marketplace Skyscanner has teamed up with insurtech Cover Genius to offer customers COVID-19 travel insurance.
Posted: 2020-11-12
Industrial machinery inspector British Engineering Services has launched an inspection product for motor garages and farms on the Acturis broker platform.
Posted: 2020-11-12
Direct Line Group has seen a sharp fall in motor partnerships GWP but a strong performance in its commercial business for Q3. It said combined operating ratio was slightly below its target range of 93% to 95% in 2020.
Posted: 2020-11-11
Insurance distributor BGL Group will continue to manage the Post Office’s motor and commercial vehicle insurance for new and existing customers.
Posted: 2020-11-11
Infrastructure support service company Amey has named Gallagher as its professional indemnity broker on a multi-year appointment.
Posted: 2020-11-11
The Financial Ombudsman Service received 68,735 new complaints in Q2 2020/21, up by 20% on the same period last year.
Posted: 2020-11-10
Collective-based cycle insurer Laka has launched its latest call for funding.
Posted: 2020-11-10
The Association of British Insurers has added three new names to its board.
Posted: 2020-11-10
Beazley has recorded grow written premium equivalent to £1.9bn for the first nine months of the year. This is up from the £1.7bn recorded in the same period last year.
Posted: 2020-11-09
Lloyd’s has published Blueprint Two, a two-year programme to advance the market’s move towards digital operations.
Posted: 2020-11-09
Marshall Wooldridge, owned by Global Risk Partners, has acquired Rotherham-based broker RIB Group.
Posted: 2020-11-09
Shares in RSA shot up by 46% yesterday after the insurer confirmed it had received a joint takeover offer from Canadian insurer Intact Financial Corporation and Scandinavian insurer Tryg A/S.
Posted: 2020-11-06
Brightside has announced its MGA Kitsune will be placed into run off as it reported a group loss before tax of £9.25m for 2019, compared to the £10.3m loss recorded in 2018.
Posted: 2020-11-06
Hyperion Insurance Group has changed its name, with immediate effect, to Howden Group Holdings.
Posted: 2020-11-06
Motorcycle and scooter insurer MCE Insurance has selected legal firm DAC Beachcroft to manage its £40m claims portfolio.
Posted: 2020-11-05
Worcestershire broker Hazelton Mountford has purchased competitor Michael Rollett & Co.
Posted: 2020-11-05
Connected insurance services provider FairConnect and telematics firm DriveQuant have teamed up to develop white label motor insurance solutions.
Posted: 2020-11-05
Axa UK & Ireland has reported flat revenues for personal lines and a 2% fall in commercial lines for the first nine months of 2020.
Posted: 2020-11-04
The British Insurance Brokers’ Association has announced its 2020 conference will be digital and based on the theme of strengthening resilience.
Posted: 2020-11-04
LV= General Insurance has partnered with the England and Wales Cricket Board to launch #Funds4Runs to support grassroots cricket.
Posted: 2020-11-04
Specialist energy and infrastructure insurance broker NARDAC will open a London office following the launch of the company last month.
Posted: 2020-11-03
Hiscox has reported an uptick in gross written premiums of 2% for the nine months to 30 September 2020 and of 15% for the third quarter. In a trading statement, Hiscox said GWP in constant currency for the first nine months of the year were the equivalent of £2.6bn, up from £2.5bn for the same period last year.
Posted: 2020-11-03
Ageas UK has appointed Adam Beckett as chief distribution officer. He will take up the post in January 2021.
Posted: 2020-11-03
PIB Group has acquired broker Erskine Murray, days after it announced the purchase of Arlington Insurance Services.
Posted: 2020-11-02
Aon has reported flat total revenue of £1.9bn for Q3 2020 and improved its operating margin by 340 basis points to 18.5% and, adjusted for certain items, by 40 basis points to 22.4%.
Posted: 2020-11-02
Swiss Re has reported a group net loss of £535m for the first 9 months of 2020.
Posted: 2020-11-02
PIB Group has acquired London based real estate broker Arlington Insurance Services.
Posted: 2020-10-30
The Society of Underwriting Professionals has set out its agenda for 2021, after celebrating its first anniversary this month.
Posted: 2020-10-30
Santander has implemented a reduced question set for customers seeking a home insurance quote.
Posted: 20-10-29
The Credit Hire Organisation is on the hunt for a new chair as Kirsty McKno prepares to step down after completing her four-year term in the role.
Posted: 2020-10-29
Cyber underwriter Envelop risk and AI platform Dataiku have teamed up to work on modelling and mitigation solutions for cyber and other forms of complex risk for insurers.
Posted: 2020-10-29
Goldman Sachs backed broker Aston Lark has bought Birmingham commercial broker Dunsby Associates.
Posted: 2020-10-28
AIG has decided to uncouple its life and retirement business from its general insurance operations, although its has yet to finalise how the new structure will look.
Posted: 2020-10-28
Commercial insurance provider Peach Pi has established a forum to explore how the insurance industry can support the recovery of micro and small businesses.
Posted: 2020-10-28
IFA deVere Group has established Guernsey-based captive White Knight Limited, after securing approval from the Guernsey Financial Services Commission.
Posted: 2020-10-27
The UK home insurance market will scrape a profit in 2020, largely due to the fall in claims following the outbreak of COVID-19.
Posted: 2020-10-27
Aviva has issued an apology following the public censure delivered by the FCA on the back of its investigation into the insurer’s announcement on preference shares in March 2018.
Posted: 2020-10-27
COVID-19 has accelerated the downward annual mileage trend recorded by UK drivers since 2002.
Posted: 2020-10-27
Cytora is abandoning the office for a remote-first strategy and giving employees and annual budget of £2,000 to support them in working from diverse locations.
Posted: 2020-10-26
QBE Insurance Group has announced that Richard Pryce will become interim group CEO while a permanent replacement for previous CEO Pat Regan is found.
Posted: 2020-10-26
Pioneer Underwriting Holdings Ltd has agreed terms with its Russell Coward, its head of risk and compliance and company secretary, to acquire the business for an undisclosed sum.
Posted: 2020-10-26
Geoffrey Insurance, Markerstudy Group’s direct brand, has signed up to use BGL’s new distribution as a service offering.
Posted: 2020-10-23
Brokers are missing an opportunity to improve client relationships, according to insurer Ecclesiastical, which found four out of five (79%) did not use social media to engage with clients during lockdown.
Posted: 2020-10-23
Brand will become more important following the FCA’s proposed changes to pricing for new and existing customers.
Posted: 2020-10-23
Munich Re expects to report a profit of £180m for Q3, down from £780m in the same period last year.
Posted: 2020-10-22
Marshall Wooldridge, part of Global Risk Partners, has acquired Messrs R F Broadly, a Leeds based farm insurance broker.
Posted: 2020-10-22
Charles Taylor Insurtech has developed Authority Hub to enable insurers better manage underwriting and claims authorities.
Posted: 2020-10-22
The Chartered Insurance Institute has created a good practice guide to help insurers support clients and colleagues affected by dementia.
Posted: 2020-10-21
Insurance and professional services provider Davies has extended its relationship with data analytics firm Verisk to improve its claims handling capabilities.
Posted: 2020-10-21
Interbrand has named Allianz as the top insurance brand and placed it at number 39 in its overall global brands list for 2020.
Posted: 2020-10-21
Lloyd’s motor insurer ERS has appointed Peter Bilsby as group CEO and Richard Hextall as group CFO.
Posted: 2020-10-20
HM Treasury has launched a call for evidence to support its review of the existing Solvency II regulations.
Posted: 2020-10-20
The FCA has published draft guidance to extend the flexibility and support insurers should offer customers experiencing financial difficulty due to COVID-19.
Posted: 2020-10-19
DUAL, the underwriting arm of Hyperion Insurance Group, is to use group underwriting capacity alongside that from existing capacity providers.
Posted: 2020-10-19
Tara Foley will join Axa UK Retail Insurance as CEO on 2nd November. She was previously MD of the Bank of Scotland.
Posted: 2020-10-16
Car theft claims have risen by more than 20% in each of the four years from 2016 to 2019 with keyless cars accounting for the biggest proportion of these claims.
Posted: 2020-10-16
CFC has developed a solution to cover intellectual property infringement risks during a merger or acquisition.
Posted: 2020-10-16
Ageas has agreed to sell its 50.1% stake in Tesco Underwriting to Tesco Bank. Tesco Bank will buy Ageas’s stake in Tesco Underwriting for a total consideration of £104m plus Ageas’s part of any change in the net asset value realised by Tesco Underwriting from 30th June 2020 until closing.
Posted: 2020-10-15
Digital insurance platform Go-Insur has teamed up with SurveyorTech to improve its ability to assess, transact and service property risks.
Posted: 2020-10-15
Motor insurer Zego has appointed DAC Beachcroft as its legal adviser to support the inurtech’s claims team.
Posted: 2020-10-15
Lloyd’s has published a report exploring how the insurance industry can remove complexity and uncertainty around insurance coverage. The report is in response to the societal change driven by COVID-19 and the legal disputes that have arisen over pandemic insurance coverage. The research paper, Building simpler insurance products to better protect customers, sets out three priorities for the market.
Posted: 2020-10-14
Moody’s Investors Service has outlined the significant challenges for the insurance industry from the coronavirus pandemic and the consequent economic slowdown.
Posted: 2020-10-14
Cover Genius has raised £8.3m in funding to expand its partnerships with online companies looking to provide insurance solutions to customers at the point of sale.
Posted: 2020-10-14
An industry opinion poll conducted by the Chartered Insurance Institute suggests that around two-thirds of insurance professionals are concerned that the recent FCA business interruption case has reduced trust in the sector. The professional body has urged the profession to focus on three areas of activity...
Posted: 2020-10-14
US insurance broker NFP has bought Birmingham broker Ernest R Shaw to expand its presence in the UK.
Posted: 2020-10-13
Managing general agent Nexus Group has teamed up with Crum & Foster and Hamilton Insurance DAC to expand its presence in the UK surety and trade credit market.
Posted: 2020-10-13
Costero Brokers has brought forward plans to merge with recently acquired Prospect Insurance Brokers.
Posted: 2020-10-13
A new survey reflects rising levels of confidence amongst general insurers, despite expectations of another challenging year in 2021. Optimism amongst life insurers remains flat, which is still a significant improvement on recent quarters.
Posted: 2020-10-13
Beazley has gone live with a new cyber and breach response portal for its broker partners and coverholders.
Posted: 2020-10-12
Zurich has acquired digital health and wellbeing service providers HealthLogix and HealthInsite to expand its Zurich LiveWell division.
Posted: 2020-10-12
The Association of British Insurers and 32 of its members have put their names to Business in the Community’s Race at Work Charter.
Posted: 2020-10-07
Covéa has appointed James Gearey (pictured) to the newly created position of managing director, personal lines and protection. He becomes accountable for all the company’s consumer-focused products.
Posted: 2020-10-07
Allianz Insurance is the new insurance partner for England Rugby and the title partner for Premier 15, the women’s top tier league.
Posted: 2020-10-06
NPA Insurance, a specialist provider of cover for the community pharmacy market, has launched new insurer brand Peach Pi to broaden its footprint.
Posted: 2020-10-06
Beazley has launched an online portal containing resources to support brokers and their clients navigate the digital health risk landscape.
Posted: 2020-10-06
Manchester Underwriting Management has snapped up the portfolio renewal rights of Pinpoint Underwriting.
Posted: 2020-10-05
The UK Department for International Trade has selected 10 insurtechs for the 2020 Virtual Insurtech Trade Mission in San Francisco.
Posted: 2020-10-05
Almost three-quarters of bodyshops are using reclaimed parts in repairs, with quality concerns cited as the main concern by those not using recycled parts.
Posted: 2020-10-05
The Society of Insurance Broking has urged brokers to check their clients’ policies for public liability coverage for legionella disease risks.
Posted: 2020-10-02
BGL Group has launched AI technology to weed out fraudulent motor insurance policies before they go on risk.
Posted: 2020-10-02
Clarisse Kopff will take up the position of CEO and chairperson of the board of management at Euler Hermes on 1st January 2021.
Posted: 2020-10-02
Business services provider Verastar has acquired commercial property insurance broker Littlenlarge.com. The broker specialises in insurance for buy-to-let and investment property portfolios. Verastar also owns The Insurance Octopus through which it offers policies for ranging from business interruption to liability cover.
Posted: 2020-10-01
The Financial Conduct Authority will ask the High Court to give it a certificate to leapfrog its case to the Supreme Court this Friday. The escalation comes after the regulator failed to reach agreement with insurers by the end of 30th September on the interpretation of the ruling in its recent text case on business interruption insurance.
Posted: 2020-10-01
Costero Brokers has signed a deal to market and distribute Delta Insurance’s cyber product ‘PerCy’ outside of Asia Pacific, initially focusing on the UK and Europe.
Posted: 2020-10-01
The Competition and Markets Authority has accepted a proposal from Ardonagh to fully unwind its recent £26m purchase of Bennetts to resolve competition concerns.
Posted: 2020-09-30
The Financial Conduct Authority has filed a ‘leapfrog’ application to appeal to the Supreme Court in a bid to finalise agreement with insurers over the COVID-19 business interruption insurance test case.
Posted: 2020-09-30
Independent broker Howden has snapper up St Giles, a professional indemnity insurance broker specialising in the UK solicitor sector.
Posted: 2020-09-30
Trading under retail brand HomeProtect, digital home insurer Avantia has recorded a £14.1m gross profit for 2019, up by 21% on the previous year.
Posted: 2020-09-30
Independent broker Clear Group has bought Brokerbility Holdings and its constituent broking, network and technology businesses.
Posted: 2020-09-29
The Ardonagh Group saw H1 income drop by 12.6% in H1 2020, compared to the same period last year. Adjusted EBITDA rose by 1.7% compared to the first half of last year to hit £99.9m.
Posted: 2020-09-29
e2e Total Loss Vehicle Management will now deliver vehicles to an insurer’s approved repairer as part of its 90-minute guaranteed roadside recovery service.
Posted: 2020-09-29
Direct Line will offer leak detection technology from LeakBot to its high net worth customers as part of a new strategic partnership between the two firms. Over the next 12 months, customers will be offered a free LeakBot device and free visits from the company’s engineers if an escape of water is detected.
Posted: 2020-09-28
Intermediary BGL Group has been ranked fifth in this year’s Sunday Times PwC Top Track 250.
Posted: 2020-09-28
Analysis from consultant LCP has found that climate change has overtaken Brexit as a key risk for the insurance industry.
Posted: 2020-09-28
The Chartered Insurance Institute has hit out at the government’s lack of support for training and skills in its recently announced economic plan.
Posted: 2020-09-25
Legal expenses insurer Arc Legal Assistance has teamed up with Prestige Underwriting to grow its footprint in the Republic of Ireland.
Posted: 2020-09-25
Marsh has named Tamara Simpkins Franklin as its new chief digital data and analytics officer from 1st October.
Posted: 2020-09-25
GG Insurance Services, a specialist provider of insurance solutions to the games industry, has expanded into the US and opened an office in Houston.
Posted: 2020-09-25
Howden’s announced acquisition of A-Plan will create a group managing £4bn of UK gross written premium for around 1.5 million clients.
Posted: 20-09-24
CRIF Decision Solutions has launched its Digital Booster product in the UK to enable insurers and distributors to accelerate the creation and launch of digital products.
Posted: 2020-09-24
The Financial Services Authority is proposing to ban insurers charging existing customers more than new policyholders in a crackdown on the motor and home markets.
Posted: 2020-09-23
The insurance sector has issued warnings and welcomes in response to the FCA’s proposed changes to motor and home insurance pricing for existing customers.
Posted: 2020-09-23
Beazley has doubled its estimate for first party COVID-19 claims from £137m to £274m net of reinsurance.
Posted: 2020-09-23
Just 2% of firms in the insurance sector set targets to recruit people with disabilities and only 7% have set targets for attracting talent based on ethnicity, race or nationality.
Posted: 2020-09-23
Toyota Insurance Services has joined Swiss Re’s advanced driving assistance systems risk score platform.
Posted: 2020-09-22
L&G has recorded a 72% jump in the number of customer logging on for digital services since lockdown began in March 2020.
Posted: 2020-09-22
Specialist MGA iprism has developed a standalone holiday home product to expand its range of personal lines covers.
Posted: 2020-09-22
Willis Towers Watson’s insurance consulting and technology business has joined the MuleSoft Technology partner programme.
Posted: 2020-09-22
The Financial Conduct Authority has written a Dear CEO letter to insurers pushing them to settle valid business interruption claims swiftly and consistently.
Posted: 2020-09-21
Marsh has reported a jump of more than 200% in the number new captive insurance companies it formed in the first seven months of 2020, compared to the same period last year.
Posted: 2020-09-21
Speciality re/insurer Convex Group has appointed Matt Paskin as CEO of Convex Re in Bermuda and Theo Butt as CEO of Convex Insurance UK in London.
Posted: 2020-09-21
Experian has extended its price comparison services to include motor insurance, adding to those already available in the credit and energy sectors.
Posted: 2020-09-18
Launched in 2015, Medical & Commercial International has finalised its buyout from Castel Underwriting Agencies.
Posted: 2020-09-18
Independent managing general underwriter Carbon Underwriting has appointed Gary Clark as property underwriter.
Posted: 2020-09-18
The ABI has said it will take time for insurers to consider and possibly appeal the ruling in the FCA test case concerning COVID-19 business interruption losses.
Posted: 2020-09-17
DUAL Asset, part of DUAL, the underwriting arm of Hyperion Insurance Group, has added Accredited Insurance (Europe) Limited, as a carrier for its UK legal indemnity insurance business.
Posted: 2020-09-17
US broker NFP has rebranded its UK and Irish subsidiaries to further its push into the European market.
Posted: 2020-09-17
The Competition and Markets Authority has found Ardonagh Group’s £26m purchase of motorcycle insurer Bennetts could increase prices and reduce choice for riders.
Posted: 2020-09-16
The Chartered Insurance Industry has urged industry professionals and government representatives to act now and reduce the need for future legal test cases.
Posted: 2020-09-16
The employment tribunal system already has a backlog of 45,000 cases and the wave of forthcoming redundancies may overwhelm it, according to ARAG.
Posted: 2020-09-16
The High Court has this morning handed down its much anticipated judgment in the Financial Conduct Authority’s business interruption test case, finding in favour of the arguments advanced for policyholders on the majority of the issues.
Posted: 2020-09-15
The Chartered Insurance has created a chartered transparency forum to drive better consumer understanding of what policies actually cover.
Posted: 2020-09-15
According to GoCompare Travel Insurance, 55% of travel insurance buyers now select 4- or 5-star Defaqto rated policies. This is up from 45% 12 months ago.
Posted: 2020-09-15
Broker Aston Lark has snapped up Lloyd’s broker Brunel Professions.
Posted: 2020-09-14
Entering its third year, the Society of Insurance Brokers has said it will spend the next 12 months focusing on helping members boost business following the impact of COVID-19.
Posted: 2020-09-14
The FCA has reiterated the need to improve both competition and distribution in the general insurance sector.
Posted: 2020-09-11
Insurers need to step up if they want to stay ahead of global IT giants in the race for general insurance customers.
Posted: 2020-09-11
Trade credit insurer Euler Hermes has promoted Florence Lecoutre, group head of HR, to the management board. She replaces Virginie Fauvel.
Posted: 2020-09-11
Insurers in G7 markets need to improve underwriting margins in the range of 7 to 12 percentage points to achieve a reasonable return on equity through 2021.
Posted: 2020-09-10
M&A insurance specialist Risk Capital Advisors has opened an office in Amsterdam to further its push into continental Europe.
Posted: 2020-09-10
US insurer The General will offer customers mobile device cover provided by Lori, a brand managed by HYLA Mobile subsidiary Lorica.
Posted: 2020-09-10
Rating agency Moody’s has downgraded its outlook on the global reinsurance sector from stable to negative.
Posted: 2020-09-09
Legal expenses and assistance provider ARAG has included a dark web monitoring and ID theft restoration service in its new family legal solutions product.
Posted: 2020-09-09
Insurer HDI Global has announced it will provide capacity on an exclusive basis for higher education risks through RMP, a specialist public sector MGA.
Posted: 2020-09-09
The Chartered Insurance Institute will relocate to the Walkie Talkie from early 2021, sub-letting space from the Chartered Institute for Securities & Investment.
Posted: 2020-09-08
The Insurance Museum Initiative has set an annual fundraising target of £3m and is seeking pledges from insurers, brokers and service providers.
Posted: 2020-09-08
GoCompare has recorded a 40% jump in the number of drivers auto-renewing their motor insurance policy.
Posted: 2020-09-08
Re/insurance outsourcing and consulting firm Pro Global Holdings has appointed Sue Barenbrug as head of data management and risk modelling.
Posted: 2020-09-08
Following the dismissal of QBE’s CEO Pat Regan, Fitch Ratings believes a significant shift in the insurer’s strategy is unlikely.
Posted: 2020-09-07
Senior figures across the insurance industry have signed up to the “Step Up for Dementia” challenge organised by awareness and fundraising campaign Insurance United Against Dementia.
Posted: 2020-09-07
Risk assessment and loss adjustment platform Virtual i Technologies has been named the winner of this year’s Acord InsurTech Innovation Challenge.
Posted: 2020-09-07
Rental sector start-up insurer Urban Jungle has raised an additional £1.6m to fund further expansion.
Posted: 2020-09-04
Bain Capital Credit is to fund a dedicated underwriting vehicle which will provide capital through Syndicate 4242 to support Beat Capital Partners’ Lloyd’s business.
Posted: 2020-09-04
Rock Insurance Group has updated its policies to provide cover when travelling against FCO advice.
Posted: 2020-09-04
Tulsi Naidu is stepping down as Zurich’s CEO in the UK to take over as CEO of Asia Pacific. The news came as part of a wider restructure announcement.
Posted: 2020-09-03
New motor claims recorded in Q2 2020 dropped by 48% to 324,000 according to figures from the Association of British Insurers.
Posted: 2020-09-03
White Oak Underwriting Agency has named Lisa Perry as CUO. She joins from MS Amlin where she was senior underwriter.
Posted: 2020-09-03
Broker Aston Lark increased revenue by 25% to £71.6m in 2019 and delivered organic commission and fee growth of 3.4% during the period.
Posted: 2020-09-02
COVID-19 will drive a 26% spike in corporate insolvencies, according to Atradius.
Posted: 2020-09-02
Insurance sector specialist Fenchurch Law has launched a claims advocacy service for brokers and opened a new office in Leeds.
Posted: 2020-09-02
Today, Lloyd’s reopens its underwriting room for the first time since it was closed on 19th March 2020.
Posted: 2020-09-01
Catastrophe insurance data company Perils has published an updated figure of £375m for the insured property loss for the UK’s February 2020 floods.
Posted: 2020-09-01
Broker Gallagher has appointed Michelle Bree as COO of its UK retail division.
Posted: 2020-09-01
Belgian insurer Ageas has acquired a 25% stake in Taiping Reinsurance as it seeks to expand into Asia and grow its non-life business.
Posted: 2020-08-28
IMS (Insurance & Mobility Solutions), the connected car data solutions provider, is looking to recruit around 50 people into its Manchester and Crewe locations.
Posted: 2020-08-28
Stolen vehicle recovery firm Tracker said car theft jumped by 96% between January and July this year.
Posted: 2020-08-28
Shareholders have voted in favour of the merger between broking giants Aon and Willis Towers Watson.
Posted: 2020-08-27
Acord, the standard-setting body for the insurance industry, says many of the biggest carriers are not making the most of digital technology.
Posted: 2020-08-27
The Salvation Army’s insurance arm has launched a range of exclusive policies distributed by specialist social care insurance intermediary Surewise.
Posted: 2020-08-27
Rising construction PI premiums could force companies out of business, and buyers need to push their brokers harder to find affordable solutions, according to Mactavish.
Posted: 2020-08-26
The Chartered Insurance Institute has found that a significant number of insurance workers are concerned about the safety of office working due to COVID-19.
Posted: 2020-08-26
Virgin Atlantic is giving customers free COVID-19 travel cover on all new bookings for travel between 24th August this year and 31st March 2021.
Posted: 2020-08-26
Hyperion X, the data and analytics division of Hyperion Insurance Group, believes COVID-19 losses will be an earnings event, and not a capital event, for the insurance sector.
Posted: 2020-08-25
Markel Corporation has named Julia Chu as its new chief risk officer.
Posted: 2020-08-25
Independent broker BGI UK has teamed up with cyber risk management specialist KYND and joined its new broker programme.
Posted: 2020-08-25
Jaunt, BGL Group’s short-term insurance brand, has reported a 60% upturn in customer numbers since January.
Posted: 2020-08-25
Quotall, which enables clients to sell insurance digitally, has launched version four of its platform.
Posted: 2020-08-25
Ecclesiastical Insurance has announced a £59.7m loss before tax for the first half of 2020.
Posted: 2020-08-24
Randall & Quilter Investment Holdings has acquired The World Marine & General Insurance Company and the Inceptum Insurance Company.
Posted: 2020-08-24
Motor accident injury claims fell by more than a third between April and June, according to figures released by the Compensation Recovery Unit.
Posted: 2020-08-24
Lloyd’s has issued guidelines ahead of re-opening its underwriting floors on 1st September.
Posted: 2020-08-21
The majority of workers do not want a mandatory return to full-time office working, changing the underlying risk profile of their home insurance.
Posted: 2020-08-21
Martin Bryant, founder of the consultancy Big Revolution, has filed a data protection group action against Marriott International in the High Court of England and Wales.
Posted: 2020-08-20
Swiss Re has warned that coastal regions along the US Gulf and East Coasts remains highly vulnerable to damage from extreme weather events with climate change exacerbating the risk.
Posted: 2020-08-20
Insurance software provider Sapiens International Corporation has teamed up with artificial intelligence specialist Gradient AI, to integrate its technology with its own workers' compensation solutions.
Posted: 2020-08-20
International insurance broker NFP has bought Dublin-based HMP Insurance & Pension Advisors. NFP serves clients through more than 260 offices across the US and 45 international offices across the UK, Puerto Rico and Canada.
Posted: 2020-08-19
HCL Technologies has teamed up with blockchain firm R3 to launch Buildingblock, a blockchain platform created to streamline commercial property insurance for multinational companies. HCL said the platform enabled insurance companies to create master policy documents in a fast, safe and secure manner. By using blockchain, it said insurers could save the time and effort which was previously required to complete lengthy data sharing processes and reconciliations.
Posted: 2020-08-19
Ardonagh Group has acquired managing general agent Thames Underwriting, which specialises in the construction, leisure and commercial sectors. Thames Underwriting has a team of 30 and is based in Leigh-on-Sea. It has partnerships with a network of more than 600 brokers and following the sale will operate within Ardonagh’s Geo Specialty Group Holdings.
Posted: 2020-08-18
Nexus has rebranded its trade credit and surety market independent broking operations, which will all now operate under its Xenia brand. Nexus acquired Credit Risk Solutions in 2017 and Credit and Business Finance in 2019. They will now trade as Xenia.
Posted: 2020-08-18
Bollington has announced its fourth acquisition of the year, after snapping up Watson Laurie. Watson Laurie controls around £25m in annual premiums. It specialises in corporate risks, property and construction, European commercial real estate financing, latent defects insurance, SME schemes and niches areas.
Posted: 2020-08-18
Tenant Shop Financial Services has partnered with Legal & General to offer life insurance, critical illness cover, income protection and rental protection plans to tenants in the letting sector. Tenant Shop specialises in online council and utility registration software, which notifies the local council, water supplier and energy providers when a tenant begins or ends their lease.
Posted: 2020-08-17
HDI Global Specialty SE has launched Aviation IQ, its digital platform delivering general aviation policies to brokers. Initially available in Australia, the technology is due to be rolled out internationally across all of HDI Global Specialty’s aviation teams. The platform has been developed in partnership with Precision Autonomy.
Posted: 2020-08-17
Travellers and insurers face further confusion and market disruption after the government removed France, The Netherlands, Monaco, Malta, Turks and Caicos and Aruba from the travel corridor.
Posted: 2020-08-17
American International Group has appointed David McElroy to chief executive officer, general insurance, and executive vice-president, AIG. McElroy was previously president and chief executive officer of the North American operations of AIG’s general insurance business. He takes over from Peter Zaffino, who had held the position alongside his role as president and global chief operating officer.
Posted: 2020-08-14
AM Best has highlighted the quickening pace of collaboration between insurers and national governments driven by the need to protect national and international economies from future pandemic losses. Despite the fact that pandemic losses were largely excluded from business interruption covers, AM Best cited Lloyd’s forecasts which estimate insurers will pay out £82bn in pandemic related claims.
Posted: 2020-08-14
The Financial Conduct Authority has issued new guidance on the fair treatment of vulnerable customers and opened a further consultation on the subject so it can ‘consider responses to the original consultation alongside views on its updated draft guidance.’ The FCA says more the 24 million adults in the UK display a vulnerable characteristic in respect of their health, capability, resilience or following the impact from a life event.
Posted: 2020-08-14
Admiral Group has reported a fall in turnover but a rise in profits for H1 2020. David Stevens, group chief executive officer, said: “A year ago I described our results as ‘frankly a bit dull’. With the benefit of hindsight there’s a lot to be said for ‘dull’ if the alternative is a global pandemic.”
Posted: 2020-08-13
Insurtech Concirrus has launched of a new submissions module to help marine underwriters accelerate the digital assessment of new business. The technology firm said COVID-19 had increased the use of electronic submissions methods such as email, and with a hardening market, brokers were adding more underwriters as recipients for each submission. The technology scans emails submissions and draws the relevant data into its Quest Marine platform. Submissions are then displayed in a dashboard and supplemented with data drawn directly from Quest Marine, indicating risk score, target premium and associated risk metrics.
Posted: 2020-08-13
Zurich Insurance Group saw its business operating profit cut by 40% in the first half of 2020 £1.3bn. The insurer said estimates for property and casualty claims from COVID-19 remained at £574m as indicated in May and had been booked into H1 2020. Zurich’s property and casualty combined ratio deteriorated to 99.8% in H1 2020, compared to 95.1% for the same period last year.
Posted: 2020-08-13
Credit and political risk insurance platform Dialogue Exchange Global, has expanded its partnership with coding specialist Codibly as it seeks to create a fully digitised commercial speciality insurance market.
Posted: 2020-08-12
Lloyd’s has prioritised the market’s COVID-19 response in picking 10 insurtechs to join its Lloyd’s Lab innovation accelerator programme. More than 140 global applications were received for the fifth cohort of the Lloyd’s Lab, which begins on the 7th September. The ten firms...
Posted: 2020-08-12
Privately-owned Costero Brokers has acquired re/insurance Lloyd’s broker Prospect Insurance Brokers for an undisclosed sum. Prospect, founded in 2010, specialises in binding authority, reinsurance and alternative risk transfer business placed into Lloyd's, European, and international company markets. Costero was established in 2017 and investors include US-based Heffernan Insurance Brokers.
Posted: 2020-08-12
Average D&O price increases in the UK exceeded 100% in the second quarter of 2020, according to Marsh’s Global Insurance Market Index. Marsh said average commercial insurance prices in the UK were up by 31% for the period. On a global basis, the broker said average commercial insurance prices jumped by 19% in Q2 2020.
Posted: 2020-08-11
The County Group, owned by Global Risk Partners, has bought Tenbury Wells broker CJN Insurance Services for an undisclosed amount. CJN Insurance Services has a team of 7 and has been writing personal and commercial lines business for more than 60 years.
Posted: 2020-08-11
Ageas has signed up to use SSP Intuition, a centralised risk selection and rating data pool powered by Amazon Web Services. The solution provides access to more than one billion quotes and quote responses, enabling users to make better informed pricing decisions.
Posted: 2020-08-11
Ageas UK reported a profit after tax of £22.8m in H1 2020, down from the £45.4m reported for the same period last year. Its UK income for the half of £603.8m was down slightly on the previous year’s figure of £609.5m. In the UK, the overall combined operating ratio deteriorated to 97.8% for H1 2020. This was up from the 96.9% logged for H1 2019.
Posted: 2020-08-10
Corporate finance partnership IMAS expects to see an uptick in insurance sector merger and acquisition activity as the impact and implications of COVID-19 are better understood. Rounding up recent activity in the insurance sector in its July newsletter, IMAS highlighted the ongoing activity of private equity backed broking consolidators.
Posted: 2020-08-10
Aston Lark has acquired Lloyd’s broker Incepta Risk Management, adding to the recent purchase of Private Healthcare Managers. Incepta offers direct and wholesale solutions and has nine staff based in Fenchurch Street, London. Its wholesale division specialises in providing property, casualty and professional indemnity solutions in the London Market to regional brokers.
Posted: 2020-08-10
Tokio Marine Kiln has published revised forecasts for the 2018 and 2019 years of account for its two non-aligned syndicates, 510 and 557.
Posted: 2020-08-07
Munich Re saw profits fall by 42% to £522m in Q2 2020, compared to the same period last year. The re/insurer also announced COVID-19 related losses for the quarter of £632m taking pandemic losses for the first half of the year to £1.4bn.
Posted: 2020-08-07
Axa has booked £1.4bn worth of COVID-19 losses into its H1 2020 results. The French insurer announced revenues for the first half of the year were down by 2% to £47bn, and that underlying earnings for the period had collapsed by 48% to £1.7bn.
Posted: 2020-08-07
Aviva’s H1 2020 operating profit fell by 12% to £1.2bn y-o-y. Publishing its interim results, Aviva said general insurance net written premiums had remained stable at £4.8bn for the first half of the year. The group’s general insurance combined operating ratio had, however, deteriorated from 96.8% in H1 2019, to 99.8% for the first six months of 2020.
Posted: 2020-08-07
Insurance broker and financial adviser Lycetts Holdings saw pre-tax profit rise to £1.3m for the year to December 2019. This is a year-on-year increase of £1.5m. Turnover for the same period rose to £22.7m, up from £21.6m in 2018.
Posted: 2020-08-07
A Finnish/South African consortium has bought Hastings Group in a deal valuing the UK insurer at £1.7bn. The consortium is called Dorset Bidco and comprises Sampo and Rand Merchant Investment Holdings. Prior to the deal being struck, Sampo and RMI owned a combined stake of 29.7% in Hastings.
Posted: 2020-08-06
From 1st September, Northern Irish brokers Abbey Insurance and Autoline Insurance will unite as AbbeyAutoline.
Posted: 2020-08-06
McKenzie Intelligence Services, the geospatial imagery and re/insurance consultancy has won a €685,000 contract from the European Space Agency to develop a Global Event Observer for the insurance industry.
Posted: 2020-08-06
Allianz has reported a fall in total revenues for Q2 2020 of 6.8% to £27.9bn, compared to the same period last year. Operating profit for Q2 2020 tumbled by 18.8% to £2.3bn. In Allianz’s property and casualty business, operating profit decreased by 17.4% to £1bn in Q2 2020 compared to the second quarter of 2019. The combined ratio rose by 1.2 percentage points to 95.5% in the second quarter of 2020.
Posted: 2020-08-05
LV= is targeting the millennial market with a simplified monthly subscription motor product called Flow. To apply for cover, drivers have to upload a picture of their driving licence and answer 14 questions. Premium rating does not include existing no claims discounts and is based exclusively on a customer’s claims history and their specific circumstances.
Posted: 2020-08-05
Morgan Stanley has teamed up with insurance brokers HUB International, Marsh Private Client Services and Willis Towers Watson to offer property and casualty insurance to high net worth clients. Under the new agreement, HUB International, Marsh Private Client Services, and Willis Towers Watson will offer Morgan Stanley’s clients risk assessment and mitigation services and solutions.
Posted: 2020-08-05
Managing general underwriter Carbon Underwriting has selected three unnamed coverholders for its first year, after securing underwriting permission for its Syndicate 4747 to write two classes of business across three continents.
Posted: 2020-08-04
Hiscox has earmarked £177m for COVID-19 claims in its H1 2020 results and announced a pre-tax loss for the period of £106m, compared with a profit of £129m for H1 2019. The group reported a gross written premium of £1.7bn for the period, down 4% on the previous year.
Posted: 2020-08-04
Julie Harrison is to head up the HR function across Allianz Insurance and LV= General Insurance after being appointed chief HR officer for Allianz Holdings.
Posted: 2020-08-04
The Financial Conduct Authority has confirmed that its High Court business interruption insurance test case has concluded, and that judgement is awaited. Lord Justice Flaux expressed a hope that judgement would be available by the middle of September, though he made no commitment to a date.
Posted: 2020-08-03
QBE European Operations has deployed Artesian Solutions’ client intelligence platform in a multi-year deal across the insurer’s UK underwriting division. The platform will provide a central resource of externally-derived insight with historical and real-time analysis.
Posted: 2020-08-03
Aston Lark has announced the acquisition of specialist employee benefits intermediary, Private Healthcare Managers. Serving the SME and corporate clients, PHM places around £4m GWP per annum across its portfolio.
Posted: 2020-08-03
British insurtech Digital Risks has rebranded as Superscript in a move the fledgling company says embodies its ambition to "raise the bar" on how insurance is delivered for SMEs, "by prioritising and elevating SMEs’ needs to give them the freedom to do what they do best".
Posted: 2020-07-31
The British Insurance Brokers’ Association’s has formed a multi-sector Access to Insurance Committee to drive progress in this important area. The AIC's main aim is to help consumers access different types of insurance where they face challenges due to age, medical conditions or disability or because of prevailing conditions.
Posted: 2020-07-31
London-based broker, Miller has registered a new branch in Geneva, Switzerland. Whilst it has plans to broaden the remit of the hub, the initial focus will be on credit and political risks for financial institutions, commodity traders, exporters and investors.
Posted: 2020-07-31
Charlotte Clark CBE has been appointed as director of regulation at the Association of British Insurers. Hugh Savill is retiring at the end of the year. Clark is currently the director of capability and learning at the Department for Work and Pensions, prior to which she held the position of director of private pensions, and head of pensions and savings at HM Treasury prior to that. She was awarded a CBE for her role in the establishment of Auto Enrolment.
Posted: 2020-07-30
Investment in healthcare insurtech is dominating the market landscape as new technology gains momentum and consumer demand for a healthier lifestyle fuels appetite for sharing data.
Posted: 2020-07-30
Lloyd’s has today published its new culture dashboard, as it commits to a raft of other measures, including a new gender-related target and a commitment to achieve parity over the next decade.
Posted: 2020-07-30
QuestGates has enhanced its cyber adjusting offering with the appointment of a new panel of specialist partners, including Grant Thornton and Envista Forensics. The loss adjuster is also now working with law firms, Beale & Co and Kennedys, both of which provide worldwide coverage in the cyber market.
Posted: 2020-07-29
Managing general agents are failing to deliver a ‘modern customer experience’, many having no single view of the customer through their IT platform. This is among the findings of a survey carried out in June by the Managing General Agents' Association and Aventus.
Posted: 2020-07-29
The average price paid for motor insurance in the second quarter of the year was at its lowest quarterly level in four years, according to the ABI’s latest Motor Insurance Premium Tracker, the only survey examining the price consumers pay for cover, rather than the price they are quoted.
Posted: 2020-07-29
In response to growing concern among SMES about policy exclusions, the Chartered Insurance Institute is urging insurers to take action to restore trust in the profession. The CII’s own Public Trust Index for April suggests SMEs that had experienced little financial impact due to coronavirus restrictions were still focused on the same issues as before lockdown – the most important of which was renewal pricing.
Posted: 2020-07-28
Some £1.21bn was raised by insurtech firms in the Q2, as the sector brushed itself off following the COVID-induced slowdown in the first quarter. The total, up over 70% on Q1, was driven in part by later-stage investments, including four mega-rounds in excess of £77.6m, according to data from Willis Towers Watson.
Posted: 2020-07-28
Tysers has named Clive Buesnel as its new chief executive officer. Buesnel has spent the majority of his career in operational and strategic roles in the UK and global insurance markets, most recently as senior partner, vice-chairman and UK head of insurance at Deloitte. Prior to this he spent a decade at Xchanging, where he was a founding director.
Posted: 2020-07-28
The Chartered Insurance Institute will from next year start requesting examples of the impact of Chartered firms' diversity and inclusion policies as part of its previously announced plan to ensure programmes are making a "positive difference to the make-up of the profession".
Posted: 2020-07-27
Following the Government's decision to change travel guidance for Spain, the ABI has said that passengers who booked their trip or took out cover after COVID-19 was declared a pandemic may not be covered for the disruption or any cancellations.
Posted: 2020-07-27
The FCA has proposed an extension until 31st October 2020 of the temporary measures it put in place to help customers who hold insurance and premium finance products and who may be suffering from COVID-related financial difficulties.
Posted: 2020-07-27
Beazley has recorded a loss before tax of £10.8m for the first half of 2020 and a combined ratio of 107%, which has deteriorated from 100% for the same period the previous year. The insurer said the loss was largely due to pandemic-related claims. It estimated these at £133m net of reinsurance.
Posted: 2020-07-24
The Financial Conduct Authority has reported an attempt to reproduce its Financial Services Register on a non-FCA website. It said: “We are currently working to get the page taken down and have alerted members of the public through our website and social media channels.”
Posted: 2020-07-24
Brokerslink has added aerospace and aviation broker Piiq Risk Partners to its global network.
Posted: 2020-07-24
Allianz Assistance has updated its travel insurance to include pandemic-related cancellation cover for insured events, as well as medical assistance abroad.
Posted: 2020-07-23
Willis Towers Watson has teamed up with software provider SSP as part of its Radar Live collaborator programme, which helps insurers deliver real-time pricing to the market. Radar Live helps insurers, MGAs and intermediaries rate risks quickly and accurately and then provide that information at the point of sale.
Posted: 2020-07-23
Specialist insurance provider CFC says the insurance sector could face a major headache from the dramatic shift to remote medical consultations driven by COVID-19
Posted: 2020-07-23
Swiss Re has reported a first half net loss for 2020 of approximately US$1.1bn, driven by claims and reserves relating to COVID-19 of US$2.5bn. The company has also announced the completion of the sale of its subsidiary ReAssure Group plc to Phoenix Group Holdings plc for £1.2bn. It received a 13.3% stake in Phoenix Group Holdings plc as part of the deal.
Posted: 2020-07-23
Genworth Financial has settled its dispute with Axa over PPI mis-selling costs for a total of more than £620m. The announcement follows the High Court’s liability judgement of 6th December 2019 and comes before the High Court issued its judgement on damages.
Posted: 2020-07-22
An increase in the number and cost of motor premiums will generate annual compound growth of 3.4% in the UK’s private motor insurance market and see it reach £15.5bn by 2024.
Posted: 2020-07-22
Six out of 10 (59%) motor fleet managers believe they have experienced fraud and more than a third (36%) have been a victim, according to Allianz Insurance. The research backs up figures from the Association of British Insurers which uncovered 55,000 fraudulent claims in 2018 with a value of £629m.
Posted: 2020-07-22
Munich Re has announced a €700m hit from COVID-19 claims in Q2 2020 and scrapped plans to buy back shares. In an announcement ahead of releasing its full figures for Q2 on 6th August, the German reinsurer said it had recorded a net profit of approximately €600m for the period. Munich Re said the largest share of its COVID-19 losses came from cancelled events.
Posted: 2020-07-21
The Chartered Insurance Institute has partnered with the newly launched International Association for the Sustainable Economy to create environmental, social and corporate governance qualifications. The CII will join the association’s board and academic committee to help to create the content for the ESG exams.
Posted: 2020-07-21
The Financial Conduct Authority has opened a consultation (CP20/10) on extending the deadline by which solo-regulated firms must have first assessed the fitness and propriety of their Certified Staff. The proposed 31st March 2021 extended deadline will also apply to training staff in the Conduct Rules and reporting Directory Person data.
Posted: 2020-07-20
Law firm BLM has launched an insurance fraud and intelligence tool called Fraud Edge. Users will have access to BLM’s suspected insurance fraud claims data and intelligence. They will also get detailed insight on opposing parties including claimant law firms, claims management companies, medical practitioners, and auto repair services.
Posted: 2020-07-20
Rating agency AM Best has affirmed its financial strength rating of A and its long-term issuer credit rating of A+ for Lloyd’s. The ratings were also affirmed for Lloyd’s China and Lloyd’s Brussels. AM Best said the outlook for these ratings was stable.
Posted: 2020-07-20
Travel industry trade association ABTA has launched a new travel insurance product underwritten by Axa. The ABTA Travel Sure product offers single and annual multi-trip policies. It is targeted at travellers with existing bookings or rescheduled holiday bookings to countries that are exempt from the Foreign and Commonwealth Office’s current advice against all but essential travel and require cover for COVID-19 medical expenses whilst on holiday.
Posted: 2020-07-17
Endsleigh Insurance Service has teamed up with Ingenie Business to support its Endsleigh Loop product, aimed at young drivers and students. Under the contract, Ingenie Business will provide a white-labelled end-to-end telematics, behavioural coaching, data analytics, policy administration, and claims management solution.
Posted: 2020-07-17
Lloyd’s of London has approved Whitespace Platform as one of two ‘fully recognised’ systems for the electronic placing mandate for managing agents.

The platform was designed by London-based Whitespace Solutions Ltd and launched in August 2019.
Posted: 2020-07-17
EMEA insurers saw Solvency II ratings fall by around 20% in Q1 2020 and overall property and casualty losses from COVID-19 will total between €50 and €80bn worldwide, according to Moody’s. The ratings agency said the pandemic has had an adverse but "so far manageable impact on the European insurance sector".
Posted: 2020-07-16
Privately-owned e-scooters remain illegal for use on the UK’s public highway and GoCompare has highlighted concerns that drivers caught using them could be fined, lose their licence or incur increased motor premiums. Lee Griffin, founder and chief executive of GoCompare Car Insurance, said: “Privately-owned e-scooters are currently banned from use on the public highway but, this doesn’t seem to be deterring people from using them.
Posted: 2020-07-16
The Ardonagh Group has a £300m war chest to fund future growth after completing a successful £2bn debt raise and the acquisitions of Arachas and Bravo Group for a combined value of over £550m. Ardonagh has raised £1.575bn through a unitranche facility and £400m through senior payment-in-kind toggle notes.
Posted: 2020-07-15
Hiscox has invested in its AI-driven liability cat risk modelling capabilities and licensed the CoMeta and Oortfolio platforms from risk analytics specialist Praedicat. Praedicat’s AI technology mines peer-reviewed published scientific literature to extract signals of emerging risk. It then maps these risks to commercial activity and quantifies potential losses from mass tort litigation.
Posted: 2020-07-15
Telematics specialist Marmalade has retained the Young Driver Telematics scheme for members of the British Insurance Brokers’ Association. BIBA and Marmalade have worked closely together to support members using the scheme through educational webinars, Marmalade’s broker dashboard and its broker support team.
Posted: 2020-07-15
The government is proposing changes to Flood Re and the levy raised from UK insurers as part of a £5.2bn flood investment programme. The proposals include the ability for Flood Re to offer discounted premiums to households that have fitted property flood resilience measures.
Posted: 2020-07-14
Almost a third of insurance buyers will be more questioning of the small print in their insurance policies as a result of the COVID-19 pandemic. Research commissioned by IT company Guidewire Software also found that almost one in five (17%) believe the industry did not do enough to help consumers in their response to COVID-19.
Posted: 2020-07-14
Six in 10 insurance professionals have had clients contact them for help because they are struggling to pay their insurance premiums. A survey of 221 Chartered Insurance Institute members found 61% had heard from consumers who could no longer pay their insurance premiums as their finances had been hit by the economic fallout of COVID-19.
Posted: 2020-07-14
The Association of British Insurers has announced that its chair, Jon Dye, chief executive, Allianz Insurance, and deputy chair Julian Adams, director, public policy and regulation, M&G plc, have extended their current roles by a year. Both came into post last summer and will now serve until next summer, instead of stepping down this year.
Posted: 2020-07-13
In an open letter to the UK government, Legal & General has called for tighter standards and tougher legislation to improve the environmental performance of UK property. According to L&G, buildings account for over a third of overall UK greenhouse gas emissions today, with heating and hot water constituting 20%.
Posted: 2020-07-13
Thieves stole more than 150,000 vehicles in 2018/19, up by 56% (54,932 vehicles) on the previous year, according to RAC Insurance analysis. Following a Freedom of Information request, the broker analysed figures from police forces for the years 2014/15 to 2018/19. The Metropolitan Police reported the highest increase in the number of thefts. In 2018/19 a total of 30,733 vehicles were stolen, up by 9,635 on the previous year. West Midlands police force reported an increase of 5,677 vehicle thefts for the year, taking its total to 10,372.
Posted: 2020-07-13
Cycling insurer, Bikmo has cut premiums for eBikes by 25% to accelerate market penetration and boost the take-up of electric assisted riding in the UK. It claims that 40% of e-Bike riders are uninsured, and that 45% access cover through their home insurance policy. Only 15% of riders have a specialist policy. Bikmo will now insure a £2,000 eBike in the UK from around £9 per month, which is typically 25% less than a non-assisted road bike of the same value.
Posted: 2020-07-10
Swiss Re believes total insurance premium levels will return to pre-pandemic levels in 2021, and that the market is well-capitalised enough to manage the spike in losses related to COVID-19. Uncertainty remains over the total claims bill, and Swiss Re said the mid-point of the range of current estimates from various external and public sources was around £44bn.
Posted: 2020-07-10
Action by the members of the British Insurance Brokers’ Association and the Association of British Insurers is bearing fruit for long-standing motor and home insurance customers, according to a report published by BIBA today.
Posted: 2020-07-10
Insurance sector merger and acquisition activity in the second quarter of 2020 plummeted by almost 70% on the same period the previous year, according to corporate finance partnership IMAS. The drop-off in insurance deals was significantly sharper than the fall of 40% seen across financial services as a whole during this period. Across financial services there were 36 M&A transactions with a value of more than £5m in Q2 2020. In 2019, quarterly transaction numbers for £5m plus deals were between 60 and 69.
Posted: 2020-07-09
Parametric solutions may offer a better mass market business interruption pandemic solution to UK SMEs than traditional policies, although there are still challenges to overcome.Yasha Kuruvilla, insurance analyst at GlobalData, said: “Given that only a minority of companies have cover against pandemics, the cost to insurers if the majority of businesses were covered would be exorbitant. This limits the efficacy of the traditional insurance model when dealing with pandemics.
Posted: 2020-07-09
Digital solutions and services provider iPipeline has launched a product to let advisers view and compare providers’ non-medical underwriting limits at quote stage.
Posted: 2020-07-09
Sean McGovern has been appointed as CEO UK & Lloyd’s market at AXA XL, a role he has carried out on an interim basis for some months. Since joining XL Group in 2016, McGovern has led the claims, legal and compliance and regulatory and government affairs functions. He was also key in the formation of AXA XL following their recent merger.
Posted: 2020-07-08
Flood Re is pushing for a ‘build back better’ approach after reporting gross claims costs of £160m for 2019/20. The pay outs for 2019/20 are ten times higher than the previous year. This week, Flood Re chief executive Andy Bord, emphasised the need for any COVID-19 recovery plan to ‘build back better’ and for continued and sustained investment in flood-risk management strategies.
Posted: 2020-07-08
CRIF Decision Solutions has launched its open insurance solution, CRIF Digital Next, to help insurers take advantage of the consumer shift to digital driven by the COVID-19 lockdown. CRIF Digital Next gives insurers access to real-time open banking data, enabling them to better understand customer behaviours and create more efficient products and processes.
Posted: 2020-07-08
Insurer Beazley has gone live with an online booking system to help brokers schedule virtual meetings with underwriters and to share relevant documents securely. Beazley Booking was developed in partnership with Microsoft and IT consultancy Redspire. Brokers can access the system using a secure login.
Posted: 2020-07-08
Aviva plc has appointed Amanda Blanc as chief executive. She replaces Maurice Tulloch who stepped down from the role due to family health reasons. Blanc had been serving as a non-executive director and was appointed to the Aviva board in January 2020. She chaired the Customer, Conduct and Reputation Board Committee.
Posted: 2020-07-07
Insurtech travel insurance provider Koala has secured almost €1.6m in funding. The investment was led by London based incubator and fund Insurtech Gateway alongside Playfair Capital, Techstars Ventures, and private investors.
Posted: 2020-07-07
Insurtech UK, the trade association for insurance technology start-ups, has signed a deal with online investment platform Seedrs. The partnership aims to better connect emerging insurtech businesses to investors looking to support disruptive technologies.
Posted: 2020-07-07
BGL Group has gone live with an insurer outsourcing solution to help carriers launch new products and overcome cost and efficiency issues created by legacy systems and processes. Under the banner, Distribution as a Service, BGL says it can manage individual elements of an insurer’s existing direct general offering, such as the digital customer journey. It claims it can also lead on the entire end-to-end process, from product development and channel distribution, through to customer servicing.
Posted: 2020-07-07
Collapsed insurer appetite to write business interruption cover, which includes losses stemming from a pandemic, leaves Wimbledon and other large events more exposed. Data and analytics company GlobalData said large events and sporting tournaments would have to shoulder considerable risks as insurers backed out of the market.
Posted: 2020-07-06
Intermediary Rock Insurance Group has launched travel insurance and cancellation products for the travel trade.The first product covers agents against cancellation costs if a customer books a holiday and needs to cancel due to testing positive to COVID-19.
Posted: 2020-07-06
The classification of e-scooters as motor vehicles in the UK is a significant opportunity for insurers. Research from data and analytics firm GlobalData highlighted that under the current business model, riders using e-scooter rental platforms are liable for any damage or harm caused by their use of the vehicle.
Posted: 2020-07-06
Insurtech UK has called on the insurance industry not to cut funding for technology projects and to remain committed to investing in innovation and process development. It urged the industry to continue supporting the active exploration of strategic partnerships with insurtechs.
Posted: 2020-07-06
Data from MoneySuperMarket shows that the average fully comprehensive motor premium in Q2 2020 of £475 was down by 2% on the previous quarter, and by 6% since the start of the year. But the drop may be short lived.
Posted: 2020-07-03
Legacy acquirer Compre has completed a second transaction with QBE. The agreement follow’s Compre’s acquisition of QBE’s share of the Ridgwell Fox & Partners pool legacy reinsurance business in 2016.
Posted: 2020-07-03
Insuretech MGA, Arma Karma has teamed up with data enrichment specialist Percayso Inform, ahead of its scheduled summer launch.
Posted: 2020-07-03
Allianz Global Corporate & Specialty will cut hundreds of jobs as part of its recently announced restructure. A spokesperson for AGCS said: “The reorganisation and process improvements could result in the loss of around 700 jobs by 2024.”
Posted: 2020-07-02
Airmic, the UK association for risk and insurance professionals, has lent its support to Lloyd’s and its proposals to drive recovery from the impact of COVID-19. Yesterday, Lloyd’s published a report setting out possible solutions to support businesses and evolve insurance cover to accelerate recovery from the current pandemic. It also detailed suggestions to improve resilience to future systemic catastrophic events.
Posted: 2020-07-02
SME and landlord insurance provider Simply Business has appointed DAS UK as its insurance provider for home emergency, business legal expenses, and landlord legal expenses including tenant default.
Posted: 2020-07-02
Lloyd’s has today published proposals to accelerate societal and economic recovery from the impact of COVID-19. It also announced the formation of a new Centre of Excellence, backed by £15m of seed capital, to increase the understanding and effective provision of cover for systemic catastrophic events.
Posted: 2020-07-01
Warranty and indemnity claims are on the rise according to merger and acquisition adviser, Howden M&A, which forecasts a pricing correction and significant capacity crunch in the coming months. The adviser says in the last two years W&I claims have risen to an approximate rate of one in every seven policies. In the three years prior to this, it was about 1 in every 11 policies.
Posted: 2020-07-01
GRP has made its first foray into healthcare with the acquisition of broker Premier Choice Healthcare. Further deals are set to follow.
Posted: 2020-07-01
Allianz Global Corporate & Specialty has embarked on a transformation programme to rebuild profitability. It aims to strengthen its underwriting and claims functions and streamline its business and processes. AGCS chief executive Joachim Mueller came into post in December 2019. In the first quarter of 2020, AGCS reported a combined ratio of 117.5%, up from 99.7% in the same period the previous year.
Posted: 2020-07-01
LexisNexis has added new dimensions to its Informed Quotes platform, including geospatial data including perils data such as flood, fire and subsidence and 42 further data enrichment datasets including publicly available data and identity verification data, property and business data.
Posted: 2020-06-30
A new survey of MGAA members shows that the vast majority are ready for a return to face-to-face client and broker meetings following the economic shock of lockdown and negative headlines circling the industry.
Posted: 2020-06-30
Specialist insurer Beazley has successfully finalised its claims transformation programme. Guidewire's ClaimCenter is now fully integrated with the London Market Electronic Claims File Write-Back.
Posted: 2020-06-30
London-based start-up Capacity Place, a marketplace for delegated authority and treaty reinsurance placements which aims to match capacity seekers with capacity providers, has been launched.
Posted: 2020-06-26
The rise in remote working on the back of the coronavirus pandemic and subsequent spike in cyber attacks on SMEs will further drive uptake of cyber insurance, according to analysts at GlobalData. The firm’s latest thematic research on cyber insurance highlights that the purchase of cyber policies among UK SMEs has increased considerably since 2015.
Posted: 2020-06-25
Data analytics provider Verisk has launched a new version of its personal injury claims damages calculator for insurers, providing greater classification of multiple injuries in low frequency, high value claims.
Posted: 2020-06-25
The coronavirus pandemic will force the insurance industry to embrace digital, according to research from the Cass Business School. It also suggests the pandemic has underlined the value of having a chief risk officer to navigate strategy and identify opportunities. The rapid acceleration of COVID-19 has,argues the report, Risk, Strategy and Digi-Change and the Role of the CRO, brought about a wholescale change in working practices for insurers, with speed and efficacy of data increasingly important.
Posted: 2020-06-24
The Hiscox Action Group has formally applied to intervene in the Financial Conduct Authority's High Court test case designed to clarify business interruption policy wordings and coverage from the coronavirus pandemic. The SME policyholder action group said the move followed the refusal of Hiscox's to agree to an expedited arbitration process.
Posted: 2020-06-24
Specialist insurer Beazley has launched a standalone contingency policy designed to cover event organisers if a transmission failure disrupts or cancels a virtual streamed event. The policy covers first-party losses including organisational costs, expenses, or gross revenue from advertising and ticket sales.
Posted: 2020-06-23
Broking group Ardonagh has refinanced its debt structure to £2bn from £1.2bn enabling it to complete the acquisitions of the Bravo Group, the Arachas Group and Bennetts Motorcycling Services. The new financing includes a £300m delayed draw facility to support future mergers and acquisitions.
Posted: 2020-06-23
The Primary Group is to take a majority stake in the Leeds-based personal lines MGA UK General Insurance, which it sold to J C Flowers in 2017, for an undisclosed sum.
Posted: 2020-06-23
Former RSA Insurance Ireland chief financial officer Rory O’Connor has been disqualified for 8 years 4 months and fined €70,000 by the Central Bank of Ireland for his admitted participation in a breach of financial services law by the company.
Posted: 2020-06-22
The Insurance Charities is calling for insurance employees to support its annual awareness-raising campaign. The annual initiative, which is particularly poignant in light of the financial impact of the coronavirus pandemic, is designed to ensure as many employees and former employees working in insurance are aware of the practical and financial support available.
Posted: 2020-06-22
The British Insurance Brokers’ Association has renewed its cyber insurance scheme with CFC Underwriting. The scheme, originally set up in 2004, provides businesses with cover to protect against cyber crime, business interruption and privacy events.
Posted: 2020-06-19
The Insurance Charities has put out a call for insurance industry employees and former employees impacted financially by the coronavirus pandemic to apply for full funding for qualifications provided by the Chartered Insurance Institute. The initiative follows a donation of £25,000 from the professional body’s education and training trust, which estimates up to 100 individuals could benefit.
Posted: 2020-06-19
Markel International has pulled out of the personal accident and contingency insurance market with immediate effect, putting a number of roles at risk. In a statement the specialist insurer said its wholesale business will now focus solely on its entertainment book.
Posted: 2020-06-18
Lloyd’s of London has issued a statement apologising for its role in the eighteenth and early nineteenth century slave trade, acknowledging its past links to slavery. It is not the only company to do so in the wake of the killing of George Floyd in the US, with drink and food chain Greene King also recognising its connection via its founder.
Posted: 2020-06-18
An online survey of insurers' changing priorities as a result of the COVID-19 pandemic by consultancy Alan Walker shows a major focus on remote working for 2020 and 2021 – and a reduced focus on changing and enhancing existing supply chains.
Posted: 2020-06-17
Zurich UK and law firm BLM have published a best practice guide for the insurance industry in a move designed to help improve the detection of fraud related to escape of water claims. Aimed at claims handlers, loss adjusters and intermediaries it identifies key questions to ask to spot fraud.

According to the Association of British Insurers, insurers pay out £2.5m every day on EOW claims.
Posted: 2020-06-17
Mark Bailie is set to take over as chief executive of BGL Group in September as long-standing CEO Matthew Donaldson steps down this week from the broker after seven years in the role. Bailie was most recently chief executive of Royal Bank of Scotland's digital banking app, Bó, which he also founded. He spent ten years at RBS, where he was appointed chief operating officer in 2016, prior to which he worked in private equity having started his career at PwC..
Posted: 2020-06-17
Mactavish is calling on Herbert Smith Freehills, which is representing the Financial Conduct Authority in the COVID-19-related legal review of failed business interruption claims, to disclose if it also represents any of the insurers or brokers whose wordings will be subject to scrutiny.
Posted: 2020-06-17
Thirteen PIB-owned commercial insurance broking businesses are to lose their brands and become part of PIB’s speciality division PIB Insurance Brokers.

The brands to go are Cooke & Mason, DE Ford, Franklands, Lorica, PIB Private Clients, PIB SME Insurance, QPI, Wilby (including Websters Insurance Brokers), WW Group, BKG West, Cobra Insurance Brokers and QPI.
Posted: 2020-06-16
Incoming chief executive officer of Ageas UK, Ant Middle has split his former role as chief customer officer in two, with the new roles focused on operations and distribution respectively.
Posted: 2020-06-16
Loss adjuster McLarens has acquired London-based adjuster Lloyd Warwick International, which specialises in onshore, offshore and renewable energy claims, from Crawford & Company for an undisclosed sum.
Posted: 2020-06-16
Mike Bruce has stepped up to group chief executive of Global Risk Partners following the completion of the acquisition of the business by private investment firm Searchlight Capital Partners. Andy Homer becomes non-executive chairman of the group, in addition to his existing role as chair of the Board of the retail division.
Posted: 2020-06-16
CNA chief operating officer Jalil Rehman will take over as president and CEO for UK & Europe following the retirement of David Brosnan at the end of August.
Posted: 2020-06-12
Ethos Broking regional partner Thompson & Richardson has acquired Scunthorpe-based independent broker Johnstone Insurance Brokers.
Posted: 2020-06-12
The Association of British Insurers has released its first annual report on the Code on Genetic Testing and Insurance, originally introduced back in 2001, designed to protect insureds from having to reveal the results of predictive or diagnostic genetic testing to access some insurance. It shows that over 5000 genetic test results were shared with insurers in 2018.
Posted: 2020-06-11
Specialist insurer HSB has extended its e-trading platform to brokers in Ireland following a successful launch in the UK last year. HSB Fast Track, the specialist engineering and technology insurer’s online trading platform now offers brokers in Ireland a full suite of HSB products, including construction annual, construction project, contractors’ plant, computer and cyber.
Posted: 2020-06-10
Lloyd’s has launched a new application programme interface to support the electronic placement of business by London market brokers and underwriters.
Posted: 2020-06-10
Zurich Insurance Group has put together a new legal panel to provide advice on the management of large and complex claims across the whole of the Europe, Middle East & Africa region.
Posted: 2020-06-10
Broker Aon has developed an insurance package for digital assets specialist GK8. The insurance policy aimed at GK8’s clients is underwritten by a panel of insurers led by Arch Underwriting at Lloyd’s Syndicate 2012.
Posted: 2020-06-09
Home insurance MGA Buzzvault closes
Posted: 2020-06-09
Law firm Mishcon de Reya has received agreement in principle from an unnamed litigation funder for a group claim against insurer QBE for dental practices whose coronavirus-related business interruption claims have been rejected.
Posted: 2020-06-08
Aegis London’s online quote-and-bind platform Opal generated over £4m of net premium in May, the highest level yet recorded by the business. It follows in the wake of the suspension of face to face trading at Lloyd’s earlier this year.
Posted: 2020-06-08
HDI Global Specialty has launched a London-based political and credit risk team to be led by Nick Robinson.The new unit has been formed following the hire of Robinson and Anthony Vaughan from Neon Underwriting. Robinson joins as head of political risk & structured credit and Vaughan as senior analyst and underwriter.
Posted: 2020-06-08
The privately-owned Markerstudy Group has confirmed it is to start consultations with staff over redundancies in the wake of the impact of the coronavirus pandemic.
Posted: 2020-06-05
The Government has confirmed it is backing a temporary trade credit reinsurance scheme following the impact of the coronavirus pandemic. Under the temporary scheme insurers will take 10% of claims that result from business failure while government will take 90% of the premium and claims
Posted: 2020-06-04
Co-op Insurance recorded a 50% increase in collision claims involving cyclists in the ten weeks since the lockdown on the 20th March.
Posted: 2020-06-04
The Financial Conduct Authority has called on insurers to review the value of their policies in the wake of the coronavirus-pandemic and to take appropriate action where necessary within the next six months. The call is part of the regulator’s final product review guidelines, mooted early last month, which have now been finalised.
Posted: 2020-06-03
The Davies Group has confirmed its acquisition of robotic process automation specialist Codebase8. The Llanelli-based firm will become part of Davies’ consulting & technology business, led by CEO Mark Grocott. The Codebase8 team will also work alongside Davies’ customer experience practice, Ember, led by David Leedham.
Posted: 2020-06-03
The re/insurance industry has confirmed its intention to push ahead on developing a Pandemic Re solution in the wake of the coronavirus pandemic with the creation of a new project committee and six industry-supported working groups.
Posted: 2020-06-02
The UK branch of the Insurance Industry Charitable Foundation, an industry-wide platform for charitable giving, volunteering and community engagement, has published an impact report to mark five years since its foundation.
Posted: 2020-06-02
The Financial Conduct Authority has named the eight insurers that will take part in its business interruption insurance test case in the High Court in July. The case is part of the regulator’s attempt to resolve uncertainty over disputed coronavirus-related claims.
Posted: 2020-06-01
Zurich has issued a statement that it is confident that the High Court will uphold its rejection of coronavirus-related business interruption claims in the impending Financial Conduct Authority-driven test case. It estimated however that should the High Court test case go against it, it would face a further claims hit of £160m.
Posted: 2020-06-01
Gallagher has launched a new bloodstock, livestock and aquaculture practice led by managing director Sophie Chambers. Chambers has over 30 years bloodstock industry experience and joins from Wills Towers Watson where she was director of global asset protection. Previous roles included divisional director at farm and estate broker Lycetts.
Posted: 2020-06-01
Allianz Insurance has appointed Rebecca Rogers to the role of head of property claims.
Posted: 2020-05-29
Insurer Brit has launched a new private client offering aimed at the high and ultra-high net worth market.
Posted: 2020-05-28
Managing general agent Victor Insurance UK has secured a five-year capacity deal with Ageas worth up to £60m in gross written premium.
Posted: 2020-05-28
Consumer and business trust in the insurance profession was improving ahead of the coronavirus pandemic according to the latest Chartered Insurance Institute Public Trust Index. The impact of disputes over coronavirus-related business interruption and travel claims will not however be clear until the next survey this summer.
Posted: 2020-05-27
Loss adjuster QuestGates plans to create a subsidence claims development academy in Northampton under plans to boost its subsidence expertise.
Posted: 2020-05-27
Flock and Allianz are supporting Skyports in this week's drone delivery trials for NHS Highland. Flights will be conducted between two hospitals in Scotland, taking off in Oban before flying 10 miles to the Isle of Mull. If successful, it will mean delivery times cut from six hours one way via ferry to just 15 minutes on-demand by drone, and offers a glimpse of the exciting future transformational impact of drones.
Posted: 2020-05-27