News
Labour promises to rip up red tape for insurers
Tulip Siddiq, shadow economic secretary to HM Treasury, has promised if the Labour party gets into power she will make sure regulation encourages growth and competitiveness in the insurance industry.
Insurance is ‘inherently discriminatory’, says White
Axa’s UK CEO Tara Foley has said the protection gap is “very real”, while Stella’s founder and CEO Sam White believes the industry is “inherently discriminatory”, even if it does not intend to be.
Protestors slam Aviva and Allianz for targeting healthy trees
Climate activists have accused the insurance industry for “pointing the finger of blame” at trees, rather than investing its billion-pound profits into preventing flood claims.
ManyPets co-founder to step down as Barile takes on group CEO role
Steven Mendel, CEO of ManyPets parent ManyGroup, has announced that he will step down from his role in mid-April and be replaced by current ManyPets UK CEO Luisa Barile.
Dancing climate protestors target ‘oily money-driven’ Lloyd’s
Campaigners have named and shamed Lloyd’s of London for continuing to “insure and enable” fossil fuel expansion and “human rights–abusing projects”.
Motorists living in diverse areas pay more for car insurance
Customers in the most ethnically diverse areas in England face higher car insurance premiums than those in areas with fewer minorities, a BBC investigation has revealed.
Allianz boasts 65% profit resurgence
Allianz Holdings has posted a 65% jump in operating profit in 2023, after 2022’s result was less than half the year before.
Beazley’s cyber security arm; Brokerbility joins Insurtech UK; Lloyd’s confirms general counsel
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Profits jump £1m as Zurich UK enjoys stable growth in 2023
Zurich UK has reported a 9% increase in GWP for its property and casualty business in 2023, while profits jumped by £1m.
Axa points to pricing for GWP and revenue uplift
Axa has reported a 7% increase in its global P&C book thanks to “favourable price effects” throughout all geographies and business lines.
Tysers on the necessity for ‘data-driven’ transformations
Steve Jolley, chief information officer at Tysers, shares how the company transitioned from a traditional to a “truly data-driven” digital insurance platform with low-code.
Insurance surge brings Money Supermarket record revenue
Increased premiums meant consumers shopped around more in 2023, which means Money Supermarket's insurance revenue increased 28% in 2023, leading to the group generating “record revenue”.
Aviva to return to Lloyd’s ‘by the end of the year’
Aviva will be in Lloyd’s by the end of the year, after years of rumours suggesting the insurer's return to the marketplace, a source has told Insurance Post.
Nigel Walsh named global head of insurance at Google Cloud
Walsh revealed in a LinkedIn post that he was starting his “next chapter at Google Cloud”.
SSP in a ‘process’ to rebuild trust with clients
Following a data breach in November 2022, as well as other disruptions over the past few years, SSP has been investing in its security measures and is currently in a process to rebuild trust within the industry
How the Post Office scandal set a new precedent for ATE insurance
Alan Pratten, chair of M&A, litigation and tax insurance solutions at Gallagher, details the broker’s involvement in the well-publicised Post Office scandal, and how this particular case changed the placement of after the event insurance.
Allianz’s claims fraud savings; WTW’s cyber facility; Biba’s London committee chair
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva looking to expand in London Market and specialty lines
Following an internal restructure and a business simplification exercise, Aviva is looking to expand its presence in the specialty and London Markets.
CRIF calls on insurers to challenge ESG credentials in the supply chain
CRIF has launched its own ESG evaluation tool to support UK insurers to better assess risks, ahead of prospective regulations, Insurance Post can reveal.
Impact of hidden plastic pipework on claims costs laid bare
Analysis of more than 3000 escape of water claims by McLarens found that “trace and access” cover was required in more than half of all claims (51%).
Insurers agree to pause Gap sales amid FCA probe
Multiple insurance firms have agreed to pause sales of guaranteed asset protection insurance, following a request from the Financial Conduct Authority.
Biba’s budget demands; Tokio Marine’s deal with Lavaretus; NFU’s first commercial head
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Carbon markets: the next ‘billion-dollar’ prospect
Oxbow Partners and Kita have underlined the scale of the opportunity for insurers looking to capitalise on carbon markets, and how the carbon credit insurance market could reach $30bn by 2050.
Zego co-founder Harry Franks departs insurtech
Zego co-founder and former CEO Harry Franks has stepped away from the insurtech, Insurance Post can reveal.