Articles by Martin Croucher
Aviva will retrain staff affected by automation roll out
Aviva has asked staff if a robot could better perform their job. If the answer is yes, the company will offer employees the chance to be retrained.
Insurers' share prices tumble as profits hit by discount rate changes
More insurers have posted swingeing losses as a result of the discount rate cut.
Insurers to face £3bn bill from discount rate cut
Insurers could face a £3bn bill from the discount rate cut, with individual motor premiums rising by an average of £100.
Post People: 27 February - 3 March
Check out this week's movers and shakers.
Industry reacts to discount rate cut
Live reactions from the market to the decision to slash the discount rate (please bear with us as this page can take 30 seconds to load).
ABI hits out at ‘crazy’ discount rate decision, claiming it could affect 36 million motorists
The Association of British Insurers has warned that cutting the discount rate so severely was a “crazy decision” that will affect millions of motorists.
Direct Line hit by £230m profit blow from discount rate cut
Direct Line will see a blow to profits of up to £230m from the discount rate cut, the company said.
Admiral sees profit hit of up to £100m from discount rate cut
The discount rate cut will add between £140m to £175m to Admiral’s claims settlement bill, the insurer said.
Allianz calls for clarity over subrogation in driverless cars bill
Allianz said it is looking forward to “more clarity” over whether insurers have access to collision data should a driverless car be involved in an accident.
Skuld Copenhagen sees leadership change
Krester Krøger Kjær has taken over as head of Skuld Copenhagen, replacing Helle Lehmann.
RSA says more than 900 jobs culled last year, as it looks to further efficiencies
RSA made more than 900 redundancies last year and plans to make an additional £50m in cost savings.
Expected discount rate cut shaves £10m profit from ERS
The expected discount rate reduction has shaved off £10m of profit from motor insurer ERS.
Solvency II risk margin is ‘fundamentally flawed’: PRA
Solvency II is broadly fine but there are some bugs that need to be ironed out, the CEO of the Prudential Regulation Authority has said.
Axa CEO: Discount rate cut could wipe out benefit from whiplash reform
The reduction of the discount rate may wipe out any reduction in premiums that consumers might see from whiplash reforms, the CEO of Axa has warned.
Axa sees profits rise by 12% in 2016
Axa has seen underlying profit rise by 12% to £263m in the UK and Ireland business.
Underwriters of Express Gifts will contribute to £12.5m FCA redress
Two firms that underwrote insurance that offered “little or no value” to customers, will contribute to a £12.5m redress.
Gallagher sues Scottish broker over client poaching
Arthur J Gallagher is suing a former member of staff and his new employer over allegations of client poaching.
Ex-Brightside boss to ‘breathe life’ into Towergate partnerships
Towergate has hired ex-Brightside distribution boss Colin Wallace to “breathe life” back into the business’ partnerships proposition.
Interview: Jim Bichard, PWC
When the referendum result came in on 24 June last year, there was a moment of disbelief in the market. Many business leaders were forced to re-examine what exposures they faced and what steps they needed to take next.
Robert Organ leaves amid Bluefin/Marsh management restructure
Robert Organ will leave Bluefin under a revised management team, following the business’s acquisition by Marsh.
Football dementia link could open door to claims
Former footballers facing dementia in later life could seek compensation from insurers as a result of evidence linking the disease to heading the ball.
FCA issues warning over unauthorised insurance firm
Consumers have been warned to be “especially wary” over an insurance company which may have been selling services without authorisation.
Week in Post: Darts, brokers and wooden spoons
The first rule is that you shouldn’t talk about it, but nevertheless I had the pleasure of hearing all about Post’s team visit to trendy Shoreditch darts venue Flight Club this week.
Zurich UK GI sees profits stabilise
Zurich UK’s general insurance division has posted £147m in operating profit for last year, an increase of 137% from the previous year.