News

Lloyd’s has announced the next eleven insurtech start-ups joining the sixth cohort of the Lloyd’s Lab innovation accelerator programme, which will be focused on creating simpler products for customers, including solutions related to climate risks. The 11 firms were selected from 177 applicants and the programme starts on 26 April.
Posted: 2021-04-16
Technology provider Acturis has teamed up with RAC to offer RAC Breakdown products via its broker management system. The partnership enables brokers to access private, commercial and fleet breakdown products. They can quote and bind the products via the cloud-based technology.
Posted: 2021-04-16
Law firm DAC Beachcroft is launching a Celtic customer care package for the Scotland and Northern Ireland jurisdictions, using animations to explain the insurance claims litigation process. It builds on the suite of animations created for England and Wales.
Posted: 2021-04-16
According to data from the latest Pearson Ham Quarterly Market Price Index both motor and home insurance premiums saw marked price reductions in Q1 2021. Motor premiums reduced by 5%, combined buildings and contents premiums were down by 1.4%, while contents-only cover dropped by 4% in the quarter.
Posted: 2021-04-15
Emerging risk analytics specialist Praedicat has developed a new platform to help syndicates at Lloyd’s understand how their existing book of business is exposed to emerging risks and to produce compliant reports on six specific liability scenarios, as required by the market.
Posted: 2021-04-15
Vehicle and driving data company IMS has partnered with car sharing marketplace Turo to offer a telematics-based vehicle security package to car owners using its platform. Vehicle owners using Turo can get IMS’ telematics hardware installed in their vehicles, with security specialists W4G providing ongoing monitoring and theft recovery services.
Posted: 2021-04-15
Specialist insurance and reinsurance broker BMS has launched Pathlight Analytics, which helps clients examine data to drive better insight into their specific capital and risk transfer goals and objectives. The platform works across both insurance and reinsurance.
Posted: 2021-04-14
Sedgwick has teamed up with the University of the West of England to assess 702 home insurance claims and the issues affecting the cost and duration of flood damage claims. The work was funded by Flood Re and highlights the ability of resilience measures to reduce the time and value of claims.
Posted: 2021-04-14
Figures from Willis Re’s 13th Reinsurance Market Report, which tracks the capital and profitability of the global reinsurance industry, show the total capital dedicated to the global reinsurance industry was £477bn at the end of 2020, an increase of 7% on the previous year.
Posted: 2021-04-14
Insurance brokers and intermediaries reported 15 conduct rule breaches between 9 December 2019 and 31 August 2020. This is from a universe of more than 6,000 solo-regulated insurance intermediaries with a regulatory responsibility to inform the FCA each year of any conduct breaches by certified staff. The figures come from a freedom of information request by consultant Sicsic Advisory.
Posted: 2021-04-13
RAC Insurance has set up its own personal lines broker to accelerate growth and hit gross written premium of £300m by 2023. Telematics motor insurance will be offered first, with van and home insurance propositions to follow. RAC Insurance has appointed CDL as its technology provider. Europa Group will provide policy administration services and a branded contact centre.
Posted: 2021-04-12
MS Amlin has extended its reach into the US managing general agent market with the acquisition of International Transportation and Marine Office, LLC and its associated subsidiaries. The primary subsidiary, International Transportation and Marine Agency, LLC, provides marine and other specialty lines of insurance and will write business into Syndicate 2001.
Posted: 2021-04-12
The Competition and Consumer Commission of Singapore is seeking public feedback on the proposed merger of Aon and Willis Towers Watson. The one-week consultation period opened on Friday and closes at 2pm on 16th April. The proposed merger was announced over a year ago in March 2020.
Posted: 2021-04-12
Sonja Rottiers is to step down from her role as CEO of Lloyd’s Europe.
Posted: 2021-04-12
Jaguar Land Rover on-demand rental platform, THE OUT, has selected Flock’s usage-based insurance for its fleet. Launched by Jaguar Land Rover’s mobility venture capital arm InMotion in 2019, the rental service allows customers to hire vehicle online and have them delivered to their homes or offices.
Posted: 2021-04-09
Reinsurers are set to foot most of the bill for the grounding of the ship that blocked traffic in the Suez Canal last month, with payouts expected to run into hundreds of millions of dollars according to reporting by Reuters.
Posted: 2021-04-09
The motor insurance industry is heading towards usage-based pricing models, with 91% of insurers regarding it as a positive change for the industry, according to research from technology firm By Bits.
Posted: 2021-04-08
Ethos Broking has increased its number of regional hubs to 13 with the acquisition of London-based brokerage Chambers and Newman.
Posted: 2021-04-08
A former chair of both Airmic and FERMA, Graham has served as deputy CEO and technical director of Airmic since October 2015 and has more than 35 years’ experience in senior risk management and insurance positions, including serving as director of risk management and insurance at DLA Piper and 30 years in the insurance sector. She is also a board member of IFRIMA, the International Federation of Risk and Insurance Management Associations, and serves as a non-executive director of several captive insurance companies.
Posted: 2021-04-07
Insurance technology provider Acturis has teamed up with the RAC to offer brokers access to breakdown products directly via their broker management system. The partnership expands the e-trading capabilities of the cloud platform with the launch of new private, commercial and fleet breakdown products.
Posted: 2021-04-07
Goldman Sachs backed consolidator Aston Lark has continued its expansion plans with the acquisition of DNA Insurance Services to further strengthen its motor trade reach.
Posted: 2021-04-07
Ratings agency AM Best is maintaining a negative market segment outlook on the UK non-life insurance sector, citing economic uncertainty as a key headwind for non-life insurers.
Posted: 2021-04-07
Despite pandemic disruption, pet insurers last year processed claims worth the second highest annual amount recorded according to figures from the Association of British Insurers.
Posted: 2021-04-06
Insurance broker Premium Choice is planning to exploit next generation telematics technology in the launch of its first telematics insurance proposition, Aura Insurance.
Posted: 2021-04-06
Lloyd’s has posted an aggregate market loss of £0.9bn for 2020 (2019: £2.5bn profit), including net incurred COVID-19 losses of £3.4bn after reinsurance recoveries. The market’s combined ratio deteriorated to 110.3% (2019: 102.1%). Gross written premiums for the year dipped slightly to £35.5bn (2019: £35.9bn) despite average premium rate increases of 10.8%.
Posted: 2021-04-01
The Suez Canal blockage caused by the large container ship Ever Given will be credit negative for re/insurers, but Moody’s Investors Service believes the losses generated will be manageable for the market. However, it expects a rash of legal disputes over liability and coverage to prolong claims settlements.
Posted: 2021-04-01
Working remotely has increased the amount of contact UK commercial brokers have with clients, according to GlobalData’s 2021 UK Commercial Brokers Survey. The research found that more than half (52%) said they were in touch with clients more often now than before the pandemic. In addition, 47.8% believed their relationships with customers had strengthened.
Posted: 2021-04-01
Flood science specialist JBA Risk Management is pushing insurers to stress the impact of increasing climate change exposures and forecasts rises of up to 30% in annual average losses on UK residential property by 2040. The warning comes ahead of changing Prudential Regulatory Authority reporting requirements on insurers’ climate change resilience.
Posted: 2021-03-31
Data services provider Verex Group has signed up 13 UK vehicle manufacturers to manage their connected data and offer a portfolio of additional services including a range of connected insurance and accident management services. The working relationship will make it easier for car manufacturers to offer motor insurance at the point of sale.
Posted: 2021-03-31
Aviva has launched a new digital cyber product with indemnity limits ranging from £25,000 to £2m with independent limits applying to first and third party cover. Aviva has also joined forces with cyber security partners such as CyberSmart and Kaspersky, to provide risk management solutions to help mitigate client risks.
Posted: 2021-03-30
MB&G Warranty Insurance Services is to use DWF 360's claims management software, EvoClaim, to help manage and improve the end-to-end claims journey for its customers and reduce the operational cost of claims management. MB&G said every aspect of customer contact was now automated and the move had reduced service level complaints.
Posted: 2021-03-30
Emerging risk specialist broker INSUREtrust is to roll out CyberCube’s Broking Manager, a cyber risks analytics platform for insurance intermediaries. The software-as-a-service application helps to assess the source, scale and potential impact of cyber risk exposures. This informs decisions on the appropriate insurance cover for clients.
Posted: 2021-03-30
Allianz has agreed to buy Aviva Poland for a cash consideration of £2.14bn. The sale is part of Aviva’s strategy to focus on operations in the UK, Ireland and Canada. It is the eighth transaction Aviva has announced in as many months as part of its divestment process to refocus the group’s portfolio.
Posted: 2021-03-29
Needham Insurance Services has set up an administration and integration service aimed at administrators and liquidators working with insurers, who need to ensure that policyholders continue to receive servicing of their insurance policies when their original providers are no longer able to deal with them.
Posted: 2021-03-29
BGL Group has signed a three-year extension of its RAC partnership across motor insurance and breakdown. The focus for the motor insurance partnership is to support the RAC’s investment in proprietary data and boost its ability to align pricing and customer risk. RAC and BGL have also renewed their roadside assistance relationship, allowing BGL partners and customers to benefit from the breakdown service.
Posted: 2021-03-26
Ardonagh Group has posted a loss of £206.3m for the year ended 31st December 2020, compared to the loss of £74m reported the previous year. It said this was largely due to new borrowing issued in July 2020, increased financing costs and an increased tax charge for the year. Ardonagh announced an operating profit of £47.1m for the year (2019: £3.4m), driven by acquisitions and the delivery of cost savings.
Posted: 2021-03-26
Stockport-based C&C Insurance Brokers has announced plans for a Dumfries and Galloway operation in Scotland. It will be led by Lauren Kerr who is tasked with developing opportunities north of the border. She joins from Towergate and has particular expertise in the transport haulage and logistics sector.
Posted: 2021-03-26
CNA Financial Corporation is investigating a cyber attack which has caused a network disruption and impacted a number of its systems, including corporate email. The insurer has a holding page posted on its website and has engaged a team of third-party forensic experts to investigate and determine the full scope of the incident.
Posted: 2021-03-25
Open source catastrophe modelling platform Oasis Loss Modelling Framework has secured £1.5m in further investment from a group of re/insurers comprising Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, RenaissanceRe, Swiss Re, SCOR and Willis Re. The Insurance Development Forum is also providing funding and input to accelerate finance-aware risk insight in developing markets.
Posted: 2021-03-25
Willis Towers Watson has launched CyNat, a new cyber insurance product designed for power and utility companies. The product seeks to offer a more tailored solution for companies in the sector that have significant potential for loss from cyber attacks and are attractive targets due to their strategic importance.
Posted: 2021-03-24
Tokio Marine Holdings Inc has said it does not anticipate any material impact on its financials for the next fiscal year as a result of its relationship with Greensill Capital. The statement came in response to media coverage of Tokio Marine Holdings’ subsidiary The Bond and Credit Company in Australia.
Posted: 2021-03-24
PIB Group has acquired Acquinex, a specialist financial lines managing general agent. Formed in 2017 and headquartered in London, Acquinex specialises in providing mergers and acquisitions products, and underwrites warranty and indemnity and tax liability insurance for UK and European SME transactions. It has offices in Germany, Poland and Denmark.
Posted: 2021-03-24
The Financial Conduct Authority has detailed a more generous timetable for insurers to make changes if the regulator issues new rules following its consultation on general insurance pricing practices (CP20/19). The FCA will publish any new rules at the end of May. Initially, it had said insurers would have 4 months to enact changes. It has now amended this timetable.
Posted: 2021-03-23
Research from the Chartered Insurance Institute has uncovered a split in customer priorities when purchasing personal lines, created by COVID-19. Those heavily affected by the pandemic put more value on clarity and choice around claims, while those who have not been financially hit, still prize low premiums.
Posted: 2021-03-23
Lloyd’s has gone live with an earthquake policy which pays out within 5 days following a strong earthquake. The parametric policy has been developed in partnership with insurance start-up Bounce, which tracks peak ground velocity data and then triggers policy payments when levels hit 20 centimetres per second and above.
Posted: 2021-03-23
Ecclesiastical Insurance posted a loss of loss before tax of £15.7m (2019: profit before tax £73.3m) for the year ended 31st December 2021. This was driven by poor investment results. The group’s gross written premiums grew 11% to £437m (2019: £394m) and in 2020 it returned a combined operating ratio of 95.1% (2019: 91.1%).
Posted: 2021-03-22
Specialist Risk Group has recruited a 16-strong team from AFL Insurance Brokers with particular expertise in US, Canadian and Australian specialist wholesale, binding authorities and London market facultative reinsurance. The team includes Jonathan Bines, who was previously CEO at AFL.
Posted: 2021-03-22
Aston Lark has launched an online portal allowing brokers to quote and buy renovation insurance for their clients. The BIBA-approved Renovation Plan scheme offers three levels of cover and serves both the wholesale and retail market. The portal also provides brokers with the ability to process mid-term adjustments, bind cover and download documents immediately.
Posted: 2021-03-22
Reduced traffic volumes during the first COVID-19 lockdown caused a fall in opportunistic low-speed impact and fraudulent slam-on claims (crash for cash). However, phantom/bogus passenger claims and claims that were entirely premeditated, rose by 10%, according to work done by DAC Beachcroft’s counter fraud team and Aviva.
Posted: 2021-03-19
Willis Towers Watson has teamed up software company Pegasystems. The IT form will join its Radar Live Collaboration programme. The programme helps insurers integrate with Radar Live, which is a price delivery and decision engine platform supported by insurance software houses and system integrators.
Posted: 2021-03-19
Funds advised by investment firm BC Partners have agreed to acquire a majority stake in Davies Group, the professional services and technology business serving the insurance market. Existing investors HGGC and AIMCo will continue to hold minority ownership stakes in the business, alongside the Davies leadership team and employees.
Posted: 2021-03-19
Lloyd’s third-party managing agent Asta will go live with a new underwriting business on 1st April. Led by Paul Witzenfeld, it will accept worldwide property facultative reinsurance risks with a focus on primary and first-layer placements. Business will be written against binding authority contracts backed by highly rated company-market capacity through Asta’s AUML licensed entity.
Posted: 2021-03-18
Credit insurance and surety specialist Xenia Broking Group has agreed to acquire the trade credit business of Status Credit Insurance Brokers Limited, which is based in East Sussex. The transaction is expected to complete next month. Xenia will integrate Status’s trade credit business with its regulated entity Credit Risk Solutions Limited.
Posted: 2021-03-18
Digital broker Wrapper Insure has appointed Percayso Inform as its data enrichment partner. Percayso Inform will help Wrapper get a better understanding of customers, initially for those seeking motorhome quotes and expanding later in the year to include touring caravan, gap and micro-mobility insurance products.
Posted: 2021-03-18
Goldman Sachs backed consolidator Aston Lark has acquired North County Brokers Ltd, based in Balbriggan in County Dublin. The firm’s key sectors include technology and communications, manufacturing, import and distribution, and motor trade. It will be rebranded as Aston Lark Ireland next month.
Posted: 2021-03-17
Handl Group is launching a new credit hire business called Cogent Hire. It aims to reduce bills, target fraud and minimise litigation to create a new standard of relationship with insurers. Managing director Kirsty McKno will lead the firm. She was previously chair of trade body the Credit Hire Organisation.
Posted: 2021-03-17
UK business insurer Peach Pi has launched a new modular product aimed at freelancers and small professional businesses operating in the wellbeing and lifestyle sector. Peach Pi for Professionals is available via Acturis and offers combinations of professional indemnity, treatment risk, public and product liability, employers’ liability and property insurance.
Posted: 2021-03-17
Research from the Chartered Insurance Institute has identified challenges the industry needs to overcome when trying to support vulnerable customers. It found the biggest barrier professionals face when trying to assist consumers in vulnerable circumstances was being able to openly discuss the nature of the individual’s vulnerability with them.
Posted: 2021-03-16
Marsh & McLennan Companies has trimmed its name to Marsh McLennan and unveiled refreshed corporate branding. The company’s four businesses – Marsh, Guy Carpenter, Mercer, and Oliver Wyman – will maintain their existing names. The new logo is an abstract infinity symbol seeking to convey the firm’s history and range of customer solutions.
Posted: 2021-03-16
The Association of Consumer Support Organisations has attacked motor insurers for not delivering significant premium reductions or customer rebates, responding to figures from the Association of British Insurers which stated motor claims were down 19% last year. ACSO questioned why only Admiral had returned significant sums to its policyholders.
Posted: 2021-03-16
According to the Association of British Insurers, lockdown restrictions led to a fall of 19% in the number of motor claims settled in 2020, although the average value of a claim paid was up 17% on the previous year to £4,000. The average personal injury claim rose by 13%.
Posted: 2021-03-15
Lloyd’s has published the first version of its Core Data Record for consultation, which seeks to standardise the data used in the market and to improve operational efficiency and performance. Lloyd’s is collaborating with ACORD to adopt the global standards already used in the London market and internationally.
Posted: 2021-03-15
Insurer Mapfre has adopted new commitments to exclude tar sands and Arctic oil and gas production from its insurance business and to extend its existing coal exclusion policy. But, campaigners are calling on the insurer to end existing tar sands and arctic drilling contracts now, and to stop insuring all new oil and gas projects.
Posted: 2021-03-15
Esure Group has recorded a combined operating ratio of 104.4% for the year ended 31st December 2020, an improvement of 1.9 percentage points in its 2019 COR of 106.3%. Gross written premiums were £841m in 2020 (2019: £834.5m). Trading profit was £82.6m (2019: £57.7m). In-force policies nudged up from 2.38 million in 2019 to 2.45 million in 2020.
Posted: 2021-03-12
Consolidator GRP has acquired Lawrence Fraser Brokers. The firm will join GRP’s Yorkshire hub Marshall Wooldridge and is the fourth brokerage to become part of Marshall Wooldridge since GRP invested in the business in 2016. Lawrence Fraser provides a range of commercial, prestige home and motor products and risk management services to clients throughout the Yorkshire region.
Posted: 2021-03-12
Agria Pet Insurance has implemented DWF 360's claims and insurance policy management software, EvoClaim, to replace its previous system. The move will enable Agria to cope more effectively with high volume transaction numbers and to sustain operational performance as it pursues an aggressive growth strategy.
Posted: 2021-03-12
The Clear Group has acquired HIA International and Luker Rowe Chartered Insurance Brokers. HIA was established in 1996 and its Coventry office will relocate to Clear’s operation in Leamington Spa. A small team will remain in HIA’s Bedford office. Luker Rowe was founded in 1989 and has 40 staff in its Amersham office.
Posted: 2021-03-11
ERS is seeking to raise £251m in capital to turbo-charge its growth strategy. The specialist motor insurer said the money would enable it to diversify and build on its recent backing of Lloyd’s Syndicate 1856. Boston-based private equity firm Abry Partners will lead the capital raise supported by an Aquiline-led investor group.
Posted: 2021-03-11
UK-baed insurtech Zego has completed fundraising of £108m ($150m), putting a valuation of £789m ($1.1bn) on the commercial motor insurer which launched in 2016. The firm has integrations in place with Uber and Deliveroo to offer insurance to their drivers and riders. It also partners with Dott to insure its fleet of e-scooters in France and Belgium.
Posted: 2021-03-11
Specialist Risk Group has acquired Emrose Insurance Brokers which has expertise in covering London Taxis and the wider passenger transportation sector. Emrose has a history dating back more than 40 years. It will sit within SRG’s retail division, Specialist Risk Insurance Solutions, which also includes Insolvency Risk Services, KBIS British Equestrian and The Channel Partnership.
Posted: 2021-03-10
Lloyd’s capacity consolidator Helios Underwriting has raised gross proceeds of around £53.5m through a placing, subscription and open offer of more than 33 million new ordinary shares. The arrangement is conditional, inter alia, upon the passing of certain resolutions and a general meeting of shareholders is due to take place on 1st April 2021.
Posted: 2021-03-10
Direct Line Insurance Group saw operating profit fall 4.5% to £522.1m for the year ended 31st December 2020, compared to the £546.9m recorded in 2019. Its combined operating ratio for 2020 was 91%, an improvement of 1.2 percentage points on the previous year. Gross written premium was down by 0.7% to £3.18bn.
Posted: 2021-03-09
The British Insurance Brokers’ Association has launched a new marine insurance scheme for members with specialist broker MercariRisk. Cover includes cargo insurance (including stock-throughput), freight liability insurance for hauliers, hull and liability cover for commercial vessels, charter yachts, commercial maritime operations, super yachts and yachts and pleasure craft.
Posted: 2021-03-09
Global Risk Partners’ Chesterfield brokerage DCJ Group Insurance & Risk Management Limited, has acquired J E Sills & Sons Limited. Based in Lincoln, Sills was founded in 1928 and focuses on business insurance, property owners, fleet, business motor, manufacturers, office, retail and wholesalers. Sills will become part of the DCJ Group, which was bought by GRP in 2018.
Posted: 2021-03-09
Markerstudy acquired intermediary Brightside Group from private equity investor AnaCap Financial Partners. The acquisition will add gross written premium of around £125m to Markerstudy and follows the completion of its purchase of the Co-op Insurance underwriting business in December.
Posted: 2021-03-08
Intermediary Specialist Risk Group has acquired CLS Risk Solutions, an MGA focused on providing cover for real estate development projects and transactions. It controls gross written premium of more than £30m and was founded in 2010. The deal is SRG’s fourth acquisition in 2021 and is subject to regulatory approval.
Posted: 2021-03-08
PIB Group has acquired Staffordshire intermediary Element Hinton, which has a 33-year history and specialises in the construction, waste, engineering and holiday parks sectors. The family firm has around 2,500 customers across the UK.
Posted: 2021-03-08
Howden Specialty has acquired Sturge Taylor & Associates, which focuses on the superyacht and pleasure craft markets. It will become part of Howden Specialty and operate under the new trading name Howden Sturge. STA has a history dating back more than 50 years and includes the Fastnet Marine insurance broking firm.
Posted: 2021-03-08
Admiral Group’s UK insurance operations have reported a profit before tax of £698.1m for the year ended 31st December 2020. This is up by almost 17% on the £597.4m reported the previous year. The combined operating ratio for UK insurance operations improved to 70.7% (2019:80.3%), reflecting quieter roads and reduced claims during lockdown.
Posted: 2021-03-05
Aston Lark has continued its acquisition spree, adding Bristol-based Venture Insurance Brokers to its stable. The business serves both personal and commercial clients and has a focus on areas including professional indemnity, property management, haulage, small business solutions and risk management.
Posted: 2021-03-05
London-based Costero Holdings has acquired fellow Lloyd’s broker Mar Risk Services. The business was founded in 2000 by Clive Freeman who becomes a non-executive director of Costero. The wider Mar team has also joined Costero as part of the deal, which completed at the start of March.
Posted: 2021-03-05
Insurer Hiscox has reported a loss before tax of £192m for the year to 31st December 2020, compared to the £38m profit posted the previous year. The group combined ratio deteriorated from 106.8% in 2019 to 114.5% in 2020, while gross written premium remained stable at £2.9bn.
Posted: 2021-03-04
Global Risk Partner’s Birmingham broker Newstead Insurance Brokers has completed its first acquisition and purchased local firm Alford Burton and Company Ltd. Alford Burton was founded in 1987 and its core business is commercial insurance for SMEs, ranging from manufacturers to professionals and contractors to charities.
Posted: 2021-03-04
The Chartered Insurance Institute has expressed its frustration at the Chancellor of the Exchequer’s decision to keep insurance premium tax at 12% in his latest Budget. The CII said maintaining the tax at this level was deterring the take up of insurance and leaving people exposed to potentially catastrophic risks.
Posted: 2021-03-04
Aston Lark has acquired Bruce Stevenson Insurance Brokers, Scotland’s largest independent broker. The firm supports both personal and commercial lines clients and specialises in sectors including renewable energy, social housing and property insurance.
Posted: 2021-03-03
London and Leeds-based Avid Insurance Services has acquired MGA Incorporated Insurance Group Ltd, which specialises in the construction sector and caters for clients in the property, airside, health and safety, and packaged SME sectors. IIGL was founded by Mike Smith, Lyndsey Thompson and Dean Surridge in 2013 and employs 17 staff. It is based in Hornchurch, Essex.
Posted: 2021-03-03
The Ardonagh Group, through its subsidiary Hamilton Investment Bidco Limited, has acquired specialist broker Hemsley Wynne Furlonge LLP. The acquired intermediary focuses on structuring bespoke insurance solutions for transactional risks, specialising in warranty and indemnity, tax, contingent risk and environmental indemnity products.
Posted: 2021-03-02
Loss adjuster Lorega Solutions has teamed up with law firm Wynterhill LLP to launch Legal Expert, which provides access to legal services if a property and business interruption claim is rejected or discounted.
Posted: 2021-03-02
Technology firm Ignite Insurance Systems has struck an integration deal with data specialist Percayso Inform to improve the quality of information available to its clients.
Posted: 2021-03-02
Lloyd’s has announced plans to partially open its Underwriting Room on 17th May before further relaxing restrictions on 21st June. In addition, Lloyd’s said it was opening the Virtual Room to all classes of business and was continuing to improve the features available to users.
Posted: 2021-03-01
Chubb has agreed to offer travel insurance products and benefits to people using Travix websites to make their travel arrangements.
Posted: 2021-03-01
A study from Juniper Research forecasts the total value of premiums generated by insurtech platforms to top £398bn in 2025, up from £179bn in 2020.
Posted: 2021-03-01
The Jensten Group has acquired specialist personal and commercial lines broker Advance Insurance Agencies, which handles gross written premium of £16m and has 82 employees.
Posted: 2021-02-26
Rising Edge, a new MGA serving wholesale London Market and European brokers, will launch in the first half of this year. The company will offer the full spectrum of D&O coverage, offering primary and low attachment cover for a breadth of different companies ranging from those with US listed securities or international exposures to private businesses.
Posted: 21-02-26
Ageas UK has reported a full net year result of £58m for 2020, down from £60m in 2019. Income for 2020 was £1,484m, down from £1,517m the previous year.
Posted: 2021-02-25
Axa has posted 2020 property and casualty underlying earnings for the group of £1.4bn down from the £2.8bn recorded in 2019. Total group net income for 2020 was down 18% on the previous year to £2.8bn.
Posted: 2021-02-25
Global Risk Partners has acquired Suffolk-based Five Insurance Brokers, which specialises in the construction, manufacturing and process, haulage, motor trade and warehousing sectors.
Posted: 2021-02-25
Moody’s Investors Service has given the UK P/C sector a stable outlook, but highlighted looming profitability challenges for the personal lines market. Its P/C Insurance – UK 2021 Outlook suggests personal lines profitability will be challenged in 2021, while commercial insurers are expected to benefit from sustained price increases.
Posted: 2021-02-25
The Financial Conduct Authority has published final guidance (FG21/1) on what it expects from firms when dealing with vulnerable customers to ensure they enjoy the same level of outcomes as all others. Some 27.7 million adults in the UK have characteristics of vulnerability.
Posted: 2021-02-24
Consolidating broker Aston Lark has acquired construction market specialists Sennocke International Insurance Services Ltd and Build-Zone Survey Services Ltd. Sennocke International Insurance Services comprises self-build insurance specialist Self-Build Zone and Build-Zone, which focuses on latent defects insurance in the self-build market.
Posted: 2021-02-24
Motor insurer First Central has teamed up with Shift Technology and is now using its fraud detection solution to spot suspicious claims.
Posted: 2021-02-24
Results from the Lloyd’s 2020 annual culture survey show the market lags behinds its aspirations to be an inclusive market with a positive culture. The survey is now in its second year and results from 2020 show an improvement in the previous year. But this year’s research found that only 50% felt comfortable about raising concerns about behaviour.
Posted: 2021-02-23
Zurich has invested in data analytics and telematics insurance provider My Policy and agreed to join its panel as a long-term insurance capacity provider.
Posted: 2021-02-23
Specialist legacy group Compre has completed the reinsurance to close transaction of Syndicate 3330’s 2018 year of account into its recently established Lloyd’s Syndicate 1994, managed by Apollo, and the purchase of Axa DBIO II’s Corporate Member.
Posted: 2021-02-23
The Association of British Insurers has published estimates revealing members expect to pay around £2.5bn for COVID-19 insurance claims incurred in 2020. The latest estimates include £2bn for COVID-19 business interruption claims and £204m paid from COVID-19 related protection insurance claims including life, critical illness, and income protection insurance claims.
Posted: 2021-02-22
Broker Aston Lark will acquire Right to Health Ltd and The Health Insurance Specialists in deals expected to complete in March. Right to Health focuses on individual health insurance and The Health Insurance Specialists operates in the broker market serving both businesses and individuals.
Posted: 2021-02-22
Axa has replaced Swiss Re as the main capacity provider for MGA Ensurance, which specialises in construction and engineering.
Posted: 2021-02-22
The Co-operative Bank has named Axa as preferred business insurance provider to its SME customers as part of a five-year deal.
Posted: 2021-02-19
Global Risk Partners has agreed terms to purchase Marsh’s UK Networks business, which includes Marsh ProBroker, Bluefin Network, Purple Partnership, Marsh Connections, Marsh Labyrinth and Broker2Broker.
Posted: 2021-02-19
Rock Insurance Group has launched Tigon Cover Services Limited to diversify its product range beyond travel insurance and open up wider distribution networks in the broker market.
Posted: 2021-02-19
Lloyd’s has launched an online collaboration hub to source ideas on the future design of the underwriting room and supporting spaces and services in the Lloyd’s building.
Posted: 21-02-18
UK travel, health insurance and assistance solutions provider Collinson has teamed up with Nigerian life insurer FBNInsurance to create SmartHealth International.
Posted: 21-02-18
Artificial intelligence platform for language understanding Expert.ai has teamed up with Patra, a provider of technology services to the insurance industry, to enable the market to analyse policies more effectively.
Posted: 21-02-18
The Ardonagh Group has acquired Australian intermediary network, Resilium BidCo Pty Ltd, which has offices in Sydney, Melbourne and the Gold Coast, and provides commercial and personal insurance solutions to clients across Australia.
Posted: 21-02-17
American International Group has announced a £4.3bn loss attributable to common shareholders for 2020, in comparison to the net income of £2.4bn recorded the previous year.
Posted: 21-02-17
AI specialist Shift Technology will make CRIF Decision Solutions’ Sherlock system available to users of the Motor Insurers' Bureau’s Claims and Underwriting Exchange.
Posted: 21-02-17
Castel Underwriting Agencies Limited has launched a new proposition for the renewable energy market and acquired Arena NV, a Belgian-based specialist accident and health MGA.
Posted: 21-02-16
Specialist re/insurer Apollo Syndicate Management has teamed up with legacy acquirer Compre to launch Syndicate 1994, which will focus on legacy business and has approval from The Council of Lloyd’s.
Posted: 21-02-16
Research from comparison website GoCompare has found that the compulsory excess for theft claims on comprehensive motor policies has jumped by 47% in the last year. Compulsory excesses for accidental damage and fire claims are both up by 26%.
Posted: 21-02-16
Insurer Brit has reported a loss of £167m for the year ended 31st December 20201, compared with the profit of £130m it reported in 2019. Brit said its combined operating ratio for 2020 was 112.6%, up from the 95.8% recorded in 2019. The insurer said that its combined operating ratio for 2020 would have been 96.7% if COVID-related losses had been excluded.
Posted: 21-02-15
Deal activity in the insurance sector jumped by 42% in Q4 2020, compared with the average over the preceding four quarters, according to analysts at GlobalData.
Posted: 21-02-15
AEGIS London’s online quote-and-bind platform Opal has seen a 40% growth in trading during 2020. Based on over £50m gross premium passing through the platform, the 40% rise is a combination of both continuing organic growth since the system’s launch in 2016 and the boost in e-trading created by lockdown.
Posted: 2021-02-15
Zurich UK reported an operating profit of £111m for the year ended 31 December 2020. This was down by 73% on the £413m recorded in 2019. In its property and casualty business, Zurich UK saw operating profit in 2020 drop to £68m from the £271m achieved in 2019. Its combined operating ratio for 2020 rose by 6.8% on the previous year to hit 97.8%.
Posted: 21-02-12
Canopius Group has named Neil Robertson as deputy group CEO. He will take up his new post on 4th May 2021. Robertson will report to Michael Watson, group chairman and CEO at Canopius. The re/insurer said it was intended that in due course Robertson would assume the role of group CEO with Watson continuing as chairman.
Posted: 21-02-12
Insurance technology provider Acturis has upgraded its Acturis Mobile app to improve the experience for those working on a tablet. The app is available for iOS and Android devices.
Posted: 21-02-12
Specialist professional services provider Davies has established a new captive management facility in Guernsey and has received regulatory approval from the Guernsey Financial Services Commission. Davies Management Services (Guernsey) will deliver a full captive management capability and builds on the firm’s existing captive management operations in Bermuda and the US.
Posted: 21-02-11
Insurance intermediary Specialist Risk Group has expanded into the trade credit sector with the acquisition of The Channel Partnership. Based in Bristol, The Channel Partnership was founded in 1992 and following the deal its senior team and staff will join SRG’s retail business, Specialist Risk Insurance Solutions.
Posted: 21-02-11
Pen Underwriting has revamped its claims management approach for fleet clients in the hazardous goods and environmental industries. The new proposition incorporates a multi-year partnership with accident management specialist FMG to provide 24/7 first notification of loss for road traffic accidents, a UK-wide repair solution and third-party intervention to manage and mitigate costs.
Posted: 21-02-11
The date of the 2021 National Insurance Awards has changed. The Awards Gala Dinner will now be taking place on 14th July 2021, at the Waldorf Hilton in London. Supported by the Chartered Insurance Institute, the National Insurance Awards showcase outstanding performance in general insurance. Entries remain open and the deadline is 18th March 2021.
Posted: 2021-02-11
The Jensten Group has acquired Shipley-based, mid-market specialist broker Sydney Packett & Sons, for an undisclosed sum. The deal is Jensten’s third acquisition in the last eight months as it tries to boost GWP from around £230m to £500m in the next three to five years.
Posted: 21-02-10
BIBA has called on the industry to improve customer signposting. Executive director, Graeme Trudgill said: “For many different reasons some people can find accessing insurance a challenge. We are committed to helping consumers navigate their way to suitable insurance protection to improve their resilience to financial shocks.
Posted: 21-02-10
Specialist MGA Optio Group has launched a new London-based division called Marine Specialty, led by Angus Bailey. The initial focus will be on marine war, and kidnap and ransom risks. Paul Western, group chief underwriting officer at Optio said the group saw a "wealth of opportunities" in the marine sector.
Posted: 21-02-10
Chubb Global Markets has established a new energy underwriting division to cater for all large corporate energy customers in EMEA, Asia Pacific and Latin America. The team, which is based in London, is led by Andrew Brown, the newly appointed head of energy CGM.
Posted: 21-02-09
Specialist MGA Iprism has launched a new e-traded excess of loss product for brokers, covering sectors including wholesalers, manufacturers and construction. Brokers can quote and bind cover online for SME clients, with excess layers of up to £5m across public liability and public/products liability on either an annual or short-term basis.
Posted: 21-02-09
Solera, a global data, applications and service provider to the insurance and automotive sectors, has updated its AI-powered claims platform to deliver 40% faster damage detection and repair estimate results. Qapter promises to return results in under two seconds.
Posted: 21-02-09
Insurer Beazley has reported a loss before income tax of £37m for 2020, down from the profit of £195 recorded the previous year. Its combined ratio for 2020 deteriorated to 109%, up from the 100% posted for 2019. Gross written premium for 2020 was up 19% to £2,959m when compared with the previous year.
Posted: 21-02-08
The Association of Consumer Support Organisations is calling on motor insurers to refund policyholders on the back of reduced injury claims driven by lockdown. Following an FOI request, ACSO found that 172,000 injury claims were registered in Oct–Dec 2020, a drop of almost 50,000 compared to the same period in 2019. Motor injury claims fell to just under 140,000, a 23% year-on-year fall.
Posted: 21-02-08
Axa UK is investing £800,000 in a data academy and has 54 employees enrolled on a data analytics apprenticeship. The academy spans all divisions of the business including underwriting, claims, human resources, finance, risk and compliance. Funded by the Apprenticeship Levy, the scheme is designed for Axa employees who have not previously received formal training in data analytics.
Posted: 21-02-08
US risk services business Applied Underwriters has purchased Yorkshire based MGA Concept Special Risks, which specialises in coverage for a wide variety of nautical vessels and marine operators.
Posted: 21-02-05
The British Insurance Brokers’ Association has issued supplementary guidance for members on the defence of professional negligence claims connected to the absence of cover for losses caused by COVID-19.
Posted: 21-02-05
Almost 6 out of 10 insurance professionals suffered depression, anxiety, emotional distress or another mental health condition during the COVID-19 pandemic, according to the Chartered Institute of Insurers.
Posted: 21-02-05
Insurance service provider Handl has launched Mind Right, which provides digital and face-to-face psychological care to people who have suffered from bodily injury.
Posted: 21-02-04
Antares Managing Agency has placed Syndicate 1274’s Lloyd’s China operation into run-off and will not accept new or renewal business through the Lloyd’s China platform from 1st March 2021.
Posted: 21-02-04
Apollo Syndicate Management has named Hayley Spink as group chief underwriting officer.
Posted: 21-02-04
Ardonagh Advisory has agreed to purchase Lloyd’s broker Hera Indemnity, which specialises in professional indemnity cover for solicitors, legal professionals and the wider professional services sector.
Posted: 2021-02-03
Pen Underwriting has gone live with a standalone terrorism product aimed at UK businesses and property owners.
Posted: 2021-02-03
Insurance data and analytics provider LexisNexis Risk Solutions has launched LexID to help insurers create a single customer view from their underwriting, pricing, renewals and claims records.
Posted: 2021-02-03
The government has launched a consultation on proposed changes to the Flood Re scheme. The consultation closes on 26th April 2021.
Posted: 2021-02-02
Loss adjuster McLarens has acquired Dutch firm Vanderwal & Joosten, which specialises in construction and engineering, environmental, liability and agricultural.
Posted: 2021-02-02
Rating agency AM Best has highlighted the need for commercial property insurers to rebuild their reputation among SME businesses in the wake of disputes around non-damage business interruption losses.
Posted: 2021-02-02
The Financial Conduct Authority has created an online policy checker so small business can find out if their business interruption cover will respond to COVID-19 losses.
Posted: 2021-02-01
The Chartered Insurance Institute has changed the criteria pertaining to its Chartered Insurance Underwriting Agent title for Lloyd’s coverholders.
Posted: 2021-02-01
Robert Kuchinski, head of commercial insurance at Zurich UK, has been elected as the new chairman of the International Underwriting Association.
Posted: 2021-02-01
Insurer Chubb has teamed up with insurtech Indeez to launch Covisure, a financial protection product for independent workers.
Posted: 2021-01-29
US broker Assured Partners has acquired Borland Insurance in a deal that completes on 1st February.
Posted: 2021-01-29
The average price paid by UK drivers for comprehensive motor insurance in 2020 was £465, down 1% on the previous year.
Posted: 2021-01-29
Markerstudy Group has agreed a £200m investment led by Pollen Street Capital. Qatar Insurance Company, which bought Markerstudy’s insurance companies in 2018, will also participate in the transaction.
Posted: 2021-01-28
The Financial Conduct Authority has approved a new travel medical insurance directory from the British Insurance Brokers’ Association, aimed at helping brokers meet incoming regulations.
Posted: 2021-01-28
Home, landlord and ASU insurance provider Paymentshield has teamed up with non-standard specialist Ceta Insurance to offer products on Infinity, its platform for advisers.
Posted: 2021-01-28
Parametric insurer FloodFlash settled one claim from Storm Christophe in nine hours and 44 minutes. This was the time that lapsed between the flood triggering the policy to the client having the claim settlement in their bank. FloodFlash policyholders have sensors placed in their premises. When these detect flooding has hit a certain level it triggers payment of a pre-agreed amount.
Posted: 2021-01-27
In 2020, Halifax Home Insurance experienced a 177% increase in storm claims and a 90% increase in flood claims compared to 2019.
Posted: 2021-01-27
In 2020, 416 natural catastrophe events resulted in economic losses of £197bn, which was 8% up on the annual average since 2000, according to Aon.
Posted: 2021-01-26
New technology platform By Bits aims to help insurers bring usage-based motor policies to market in a faster and more efficient way.
Posted: 2021-01-26
Intermediary BGL Group has teamed up with insurer parent Markerstudy Group and will manage the entire first notification of loss claims journey for drivers, regardless of fault.
Posted: 2021-01-26
Analysis of air passenger traffic suggests that in November more than 1.4 million Brits travelled to destinations to which the government had advised against all non-essential travel.
Posted: 2021-01-26
The FCA has told insurers to be quick and transparent in settling BI claims or face the full force of its powers.
Posted: 2021-01-25
UK insurtech Flock has entered into a partnership with insurer Sompo International to support the carrier in providing cover for commercial drone operators.
Posted: 2021-01-25
Axa XL has named Ashok Krishnan as its chief data and analytics officer with immediate effect. Based in London, Krishnan will report to Matthieu Caillat, COO of Axa XL.
Posted: 2021-01-25
Patrick Tiernan will fill the newly created role of chief of markets at Lloyd’s. He will have responsibility for overseeing the market’s performance and distribution.
Posted: 2021-01-22
The Financial Conduct Authority has published plans to restrict the fees charged by claims management companies to 15% to 30% of the redress they receive.
Posted: 2021-01-22
QuestGates has committed to being a carbon neutral business by 2027.
Posted: 2021-01-22
Broker and technology company BGC Partners has launched a new holding company for its insurance interests called Corant.
Posted: 2021-01-21
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