News
Regulation widening modernisation gap between US and Europe
The US is lagging behind the UK and Europe in terms of modernisation, John Cheney, digital transformation sales lead at Charles Taylor InsureTech has told Insurance Post.
Covéa CEO rules out working with MGAs again
Georges de Macedo, CEO of Covéa Insurance, has revealed the provider won’t work with MGAs again as he feels “control from an underwriting perspective” is key to returning to profit.
Allianz settles Various Eateries BI lawsuit
Allianz and Various Eateries have settled their Covid business interruption lawsuit after several failed appeals by both parties.
Markerstudy backer agrees deal to buy Collingwood
Markerstudy backer Pollen Street Capital has agreed a deal to acquire Collingwood Insurance Services Ltd, Insurance Post can reveal.
Premium finance outlook ‘improving’ as FCA begins review
Following increased regulatory scrutiny from the Financial Conduct Authority, Pearson Ham research has found that average premium finance costs for motor and home insurance decreased over the last year.
Storm damage behind one in five of Aviva’s home claims
Aviva has revealed that 19% of all UK home claims between 2020 and 2024 were related to storm damage.
Rachel Lam expands remit at ombudsman
It has been confirmed to Insurance Post that Rachel Lam has been given a wider remit at the Financial Ombudsman Service.
Pen’s cyber revamp; Chubb’s construction practice; Unum CEO joins ABI board
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
PRA chief admits losing Solvency UK ‘row’ with MPs
Sam Woods, CEO of the Prudential Regulation Authority, has admitted the regulator lost the “spectacular row” it had with the Conservative government over the Solvency UK reforms.
Markerstudy Group to cut 750 jobs by the end of 2025
Following the completion of the £1.2bn acquisition of Ardonagh-owned Atlanta, Markerstudy Group CEO Kevin Spencer has confirmed that the process of cutting 750 jobs has begun.
Shares tumble following motor pricing and FCA action
In a repeat of what happened in January, the share prices of Admiral and Direct Line Group have taken a hit today as the Financial Conduct Authority and government announced action around motor insurance premium pricing.
Labour unveils motor insurance taskforce to crack down on costs
Labour transport secretary Louise Haigh has promised her party’s motor insurance task force will “crack down on spiralling costs” and deliver a “fair deal” for drivers.
FCA launches premium finance market review
The Financial Conduct Authority has launched a review of the premium finance market, alongside the launch of a government motor insurance taskforce.
Extinction Rebellion issues fossil fuel ultimatum to 52 insurance firms
Extinction Rebellion has given insurers 14 days to announce they will no longer be insuring new fossil fuel projects.
Hiscox’s Hemming reveals ‘bold ambition’ for distribution
Gareth Hemming, who joined Hiscox UK as chief distribution officer a year ago, has shared what brokers can expect from the insurer in the next 12 months.
Ex-Crawford UK president Lisa Bartlett resurfaces at Gallagher
Lisa Bartlett has been appointed as managing director of Gallagher’s Birmingham office, following her resignation from Crawford earlier in the year.
HMRC tax credit swings CII into surplus
The Chartered Insurance Institute has finally swung back into a surplus of funds thanks to a tax credit from HM Revenue & Customs.
Lloyd’s risk code offers ‘breathing space’ for transition support
Lloyd’s transition TCX class offers syndicates “breathing space” for supporting the energy transition, according to class underwriter for onshore energy at Chaucer Alex Nelson.
Ageas’ AI fraud tool; Clear’s Wycombe partnership; Moonrock’s COO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Broker stress reaches five-year high
Broker stress has risen to the highest level since 2019, according to research from Ecclesiastical.
Tesco’s fraud head is latest to join Direct Line’s top team
Ami North, Tesco Underwriting’s head of personal injury and fraud, is leaving to take up a role at Direct Line Group, Insurance Post can reveal.
Palestine Action group targets 10 Allianz offices
Protest group Palestine Action has targeted 10 Allianz offices across the country over the firm’s investment and insurance for Israel’s weapons manufacturer, Elbit Systems.
Admiral’s UK insurance CEO Cristina Nestares steps down
Admiral Group has today announced that Cristina Nestares is stepping down as CEO of its UK insurance business, effective immediately.
Treloar returns to insurance on Zego’s board
Steve Treloar is returning to insurance after more than a year out of the industry, as he is appointed to Zego’s board, Insurance Post can reveal.