Articles by Martin Croucher
Gefion gets €6m capital injection at ‘crucial point in time’
Unrated Danish insurer Gefion has finally secured an additional €6m (£5.4m) capitalisation for the business following regulatory action in July.
Analysis: How a dual pricing ban could be catastrophic for the industry
An outright ban on dual pricing could be “catastrophic” for the industry, analysts warned, pushing smaller players out of the market, limiting competition and raising premiums across the board.
FCA mulls ban as six million customers hit with loyalty penalty
The Financial Conduct Authority has outlined a raft of potential interventions as it revealed six million policyholders are hit with a loyalty penalty.
‘Bad outcome’ as Ogden rate remains unchanged in Scotland
The Ogden rate will remain fixed at minus 0.75% in Scotland, raising the prospect of higher premiums for motorists north of the border.
Motor premiums rise following Ogden rate decision
Motor premiums have risen by an average of 0.7% in the past three months, owing to changes to the Ogden discount rate.
Government issues warning over use of AI in insurance pricing
The rise of artificial intelligence and big data could create a new class of ‘uninsurables’ in society, a government task force has warned.
This week: A diamond in the grind
In just over a fortnight I will be leaving the world of insurance, after 42 months in the job and almost twelve hundred bylines under my belt. Here’s what I’ve learned.
Saga reports surge in fixed priced policies as insurance margins shrink
Saga has warned of lower margins in insurance even as it saw a surge in its fixed price policy product, which was launched in the wake of backlash against industry dual pricing practices.
Hyperion to merge RKH and Howden
Hyperion will bring Howden and RKH together under a single management structure.
This week: Go Compare's car crash advert
Go Compare was criticised this week for an arguably tone-deaf advert in which its singing mascot was involved in a serious car accident.
FSCS to compensate 14,000 Alpha policyholders as deal collapses
Some 14,000 policyholders will be compensated by the government guarantee scheme after a plan to replace cover collapsed.
Admiral sees £33m Ogden blow in first half
Admiral has reported a hit of £33m from Ogden in the first half of 2019, with a total estimated hit of between £50m and £60m.
Ageas sees payout for refusing to gamble on Ogden
Ageas UK saw a £27.6m bounce as a result of the discount rate change, offsetting large motor losses for the half.
LV sets deadline for L&G GI integration
LV will complete the transfer of business from L&G General Insurance by the beginning of 2023.
LV eyes premium increases following £13m Ogden blow
LV has been hit with a £13m blow as a result of the Ogden rate, which the insurer said could push up premiums by 1%.
FCA sounds alarm over Instagram brokers
The Financial Conduct Authority has issued a warning over two brokers operating without a license via Instagram.
Lamp policies transferred to another unrated insurer
More than 8000 former home insurance customers of failed insurer Lamp have had their cover moved to another unrated Gibraltarian insurer, Red Sands.
FCA flexes muscles over unauthorised claims firm
The Financial Conduct Authority has named a personal injury claims management company as operating without authorisation.
FCA announces crackdown over treatment of vulnerable customers
The regulator has vowed to “take action” against insurers that do not treat vulnerable customers fairly.
GRP buys Lancashire-based broker
Lancashire-based broker 3XD has hailed its “growth prospects” after being bought by consolidator GRP.
30,000 Alpha policyholders to be moved to new insurer
More than 30,000 property policyholders affected by the collapse of Alpha have been thrown a lifeline in the form of alternative cover arranged by the Financial Services Compensation Scheme.
This week: Gaukward moment for insurers following Ogden change
It was around Spring when office chat turned to the trend of insurers bolstering full year accounts through claims reserve releases.
Hastings reveals Ogden rate hit
Hastings shares fell this morning after saying the Ogden rate change to minus 0.25% would result in a one-off £8.4m blow.
Ecclesiastical hauled over coals in child abuse inquiry
Ecclesiastical was forced to admit the advice it gave to the Church of England related to a child abuse claim could have been handled better.