Commercial
Ardonagh buys MDS; Markerstudy snaps up Clegg Gifford; start-up broker Attis targets London/acquisitions; WTW and Munich Re in parametric 'world's first'
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Lloyd's ESG guidelines slammed as 'inadequate'
Environment, social and corporate governance guidelines published by Lloyd's of London at the end of October have been branded as "inadequate" by campaigning groups in a letter to the corporation.
Insurers warn of supply chain issues heightening the impact of windstorms
Insurers have reported a spike in claims following storms Arwen and Barra with fears remaining that remediation work could be significantly delayed due to building material and labour shortages.
Pub chain's £845m BI claim set to be heard by Commercial Court in June
An £845m lawsuit brought by pub chain Stonegate against insurers MS Amlin, Liberty Mutual and Zurich is to be heard by the Commercial Court next June.
Review of the Year 2021 – Insurtech
Post spoke to insurtechs to get their thoughts on the highs and lows of 2021.
Jensten reveals £36m cost for four deals in 2021 financial year
Jensten Group has posted a £13.57m post-tax loss for the year ended 31 March 2021 as turnover rose 24% to £21.44m.
Ardonagh’s Phil Bayles on the question of selling to a seller
Phil Bayles, chief commercial officer at Ardonagh Advisory, reviews the lessons learned from his time at Aviva and advises brokers to do due diligence when selling their businesses to avoid ‘seller regret’.
Blog: Insurers must set the ESG bar high if we are to reach net zero
COP26 set some very clear priorities for governments, businesses and individuals to reduce their environmental impact, and work towards having a better carbon footprint, writes Chris Illman, Beazley head of responsible business.
Review of the Year 2021 – Insurers
Post spoke to major insurers to get their thoughts on the highs and lows of 2021.
Broker Insights targets UK growth and entering US market after £6m raise
Insurtech Broker Insights has raised more than £6m in a Series A funding round led by Mercia investing from its Northern Venture Capital Trust funds.
Intelligence: Insuring the hydrogen boom
Hydrogen’s promise as a greener fuel source for heavy industry looks set to spur a boom in the industry over the next decade. Post looks at the risks involved and how insurers are acting to meet the needs of a growing sector.
European insurance industry able to meet customers promises even under extreme one in 1000 year events
A Solvency II stress test conducted by the European Insurance and Occupational Pensions Authority confirms the European insurance industry’s ability to meet promises to customers even under extreme one in 1000-year events.
SRG adds Joe Hanly as CFO
Specialist Risk Group has appointed Joe Hanly as group chief financial officer replacing Charlie Love who is leaving to pursue other opportunities having been with the business since October 2018.
Swiss Re reports nat cat losses fourth worst since 1970; Davies buys BVS; Leak Bot to go public after reverse takeover; and Ryanair teams up with insurtech
Post wraps up the major insurance deals, launches and investments of the week
Blog: Covid’s massive impact on solicitor negligence risk
Wilsons associate solicitor Jayna Patel considers the impact of Covid-19 on growing solicitor negligence risk.
SRG launches MX Underwriting MGA with £100m target for 2022
Specialist Risk Group has unveiled managing general agent MX Underwriting bringing together GB Underwriting, CLS Risk Solutions and Blackrock Insurance Solutions with Lime Insurance.
Interview: Andrew Wallin, Ardonagh Specialty
Ardonagh buying the insurance operations of BGC Partners was a “rocket fuel moment” for both organisations with opportunities abounding after the deal which doubled the size of the specialty business, according to Ardonagh Specialty CEO Andrew Wallin.
GRP holdco sets baseline for Searchlight era with inaugural £42m operating profit
Global Risk Partners’ holding company GRP (Jersey) Holdco has posted turnover of £128.8m in its first set of annual results.
Intelligence: Fine art - Putting insurers in the picture
Fine art is a very traditional and discreet market, with lack of data making it hard to price risk accurately. Valerie Hart explores how IT solutions could lead to greater transparency and insurers making more informed decisions.
Allianz in Uber tie-up; Assured Partners acquires SW broker; BGL and Covea to launch new direct brand; and Twelve Capital/Eos unveil insurtech focused growth fund
Post wraps up the major insurance deals, launches and investments of the week
Trade Voice: ABI's Ben Howarth on looking at climate change's impact on customers
Ben Howarth, the Association of British Insurers' climate change and open data policy manager, argues that insurers' approach to climate change ought to focus on the impact on customers.
Incoming Norgrove praised amid market surprise at Egan's RSA departure
Market specialists were surprised by RSA UK & International CEO Scott Egan’s departure but welcomed Ken Norgrove as the new RSA leader and urged him to push on with making the provider more outward looking.
Ardonagh Advisory adds COO and CTO
Ardonagh Advisory has appointed Marcus Golby as chief operating officer and Tom Clark as chief technology officer.
'Challenging' changes ahead under consumer duty
The Financial Conduct Authority’s consumer duty proposals are set to 'change the face' of the consumer financial services market, experts have said.