News
Four more brokers try to increase fees
After Aon tried to increase its insurance service brokerage rate to 5% last year, it is now understood four more large brokers are trying to do the same.
Saga losses deepen as board members depart
Saga has reported a loss before tax of £160.2m for year ending 31 January 2025, increasing its losses by almost a third compared to the year before.
FCA prioritises innovation and fighting crime in latest strategy
The Financial Conduct Authority has this morning (8 April) set out its latest work program for the 2025/26 period.
PRA launches consultation to help insurers rapidly invest
The Prudential Regulation Authority has outlined plans for a matching adjustment investment accelerator to reduce the barriers to rapid investment insurance firms face.
Aviva and Axa hit back at claims made by Which?
Aviva and Axa have refuted claims by Which? that their “potentially unfair definitions of storms and floods” are being used to reject claims made by customers who have had their property damaged.
California scheming costs fraudster £60k
A man has been sentenced for making an insurance claim worth £59,987, after he pretended he crashed a hire car while on holiday in California.
Earnix CEO warns against ‘either/or’ AI strategy
Choosing between generative AI and traditional machine learning could prove limiting, says Earnix CEO Robin Gilthorpe, who is urging insurers to harness both to unlock a powerful springboard effect.
Acorn GWP surges amid sale speculation
Acorn Group has this morning revealed gross written premium for 2024 reached £742m, reflecting a 41% year-on-year increase.
MP says social media firms in ‘last chance saloon’ over ad spoofing
Both social media firms and insurance companies must do more to tackle ghost broking, Luke Charters, MP for York South told the Association of British Insurers’ fraud conference.
IFB votes to expand membership scope
Members of the IFB have voted to approve the firm’s new articles of association at its annual general meeting earlier today (4 April).
Ardonagh Advisory buys firm; NBS x Hiscox; Tokio Marine’s head of compliance
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Trump’s tariffs impact on insurance laid bare
The introduction of US president Donald Trump’s tariffs on Wednesday (9 April) will increase the cost of claims, particularly in motor and home insurance, experts have warned.
AI could lower the bar for start-up insurtech founder expertise
Artificial intelligence could enable more insurtech start-up activity from founders with insurance backgrounds, as opposed to tech expertise.
FOS sets redress target as it predicts complaints increase
The Financial Ombudsman Service has set itself a target of resolving 270,000 cases in the 2025/2026 year, representing a 20% increase compared with the previous year.
FCA premium finance crackdown saves consumers £100m
Since the the Financial Conduct Authority’s head of insurance Matt Brewis labelled premium finance a “poor product”, car and home insurance customers have saved more than £100m in the last year after insurers reduced how much they charge policyholders…
ABI appoints Baroness Swinburne as chair
The Association of British Insurers has appointed Baroness Kay Swinburne as its new independent chair.
SSP to target larger brokers ‘soon’
SSP Broker managing director Martyn Mathews has told Insurance Post the company will soon be ready to compete for the business of larger brokers, after a period of “getting the house in order”.
Gallagher targeted senior staff with mock deepfake fraud impersonating CEO
Gallagher recently carried out an internal simulated test whereby its IT department targeted staff with an $10m (£7.7m) attempted deepfake fraud, the CEO of its reinsurance brokerage has revealed.
Insurers struggle to move AI from testing to deployment
Roots has found that while 70% of insurance executives are actively testing or exploring AI solutions, fewer than 22% have advanced to full production.
McLarens changes top team to ‘maintain’ growth
McLarens has made changes to its senior management team, in a bid to “maintain the momentum” of the loss adjusting firm’s growth across Europe, the Middle East and Africa.
Rokstone and Allianz make five-year capacity deal
Allianz Commercial has extended its partnership with Rokstone through a five-year capacity arrangement.
Zurich takes stake in Lloyd’s coverholder
Zurich Insurance is set to buy a stake in Icen Risk, a Lloyd’s of London coverholder.
ManyPets expects to post profit after £31.4m loss
ManyPets expects to post a profit for the last few months after making a £31.4m loss in the year to 31 March 2024.
Esure CEO insists takeover talk isn’t distracting
David McMillan, CEO of Esure, has said market speculation about the business being up for sale has not distracted him or the provider’s staff.