News
Lockdown reins in 'Beast from the East Two' claims hit
At the beginning of February, national headlines warned of a ‘Beast from the East Two’ as snowy blizzards, heavy rain and gale-force winds were forecast to batter large parts of the country. But a repeat of the hefty claims dent left by its 2018 namesake…
Brightside buy first in a pipeline of deals, says Markerstudy's Humphreys
There will be no job losses from Markerstudy buying Brightside with the brand and Bristol office being kept, Gary Humphreys, group underwriting director at Markerstudy, told Post.
Scott Egan confirmed as RSA UK and International CEO post takeover
Intact Financial Corporation has confirmed that Scott Egan will stay as CEO of RSA’s UK and international business after its takeover of the insurer, which is scheduled to complete next quarter.
For the record: Brightside sold to Markerstudy; Aviva acquires Axa XL HNW team; Aston Lark buys Bruce Stevenson and Inflexion invests in broking again
Post wraps up the major insurance deals, launches and investments of the week
Gallagher, RSA and Amwins Group Risks discussed how insurance companies are developing career paths for future talent
Post in association with Davies Group hosted a live webinar where an expert panel discussed how insurance businesses are adapting the personal development of their employees during a time of remote working; and what the implications are for future…
Chubb promotes Richard Shanks to claims director for UK and Ireland
Chubb has named Richard Shanks claims director for the UK and Ireland, succeeding John Latter.
Covid curbs drive Admiral to record profits
Admiral has posted record pre-tax profits of £638m for 2020, reaping the benefit of fewer claims as a result of quieter roads during lockdown.
Aviva confirms £84m Covid hit as commercial lines book surpasses £2bn
Aviva has posted a combined operating ratio of 98.5% for its UK general insurance business in 2020, reporting growth across commercial lines and progress on its pledge to slash its available personal lines products by 80%.
Fully Comp 14: First reactions to the MoJ whiplash portal protocol and practice direction
For the fourteenth episode of Post’s video series Fully Comp we gathered together a group of experts to discuss the highly anticipated publication of the rules, tarriffs, pre-action protocol and practice direction linked with the whiplash portal.
Chaucer launches university scholarship programme
Chaucer has opened a scholarship programme to pay the university fees and living expenses of one school leaver for the duration of their degree.
IPT unscathed in Budget with corporation tax set to rise in 2023
Insurance premium tax went unmentioned in the Spring Budget announcement, with developments including additional apprenticeships funding, a furlough extension and a corporation tax hike from 2023.
JM Glendinning buys Butterworth Spengler in first deal after Synova investment
JM Glendinning has invested in a management buyout of Liverpool-based Butterworth Spengler to become the majority owner, Post can reveal.
'No magic bullet' to fix Covid-19 reputation hit, says Hiscox as it posts $268m loss
There is “no magic bullet” Hiscox can use to remedy the hit to its reputation suffered through the long-running disputes over business interruption cover, the insurer’s global retail CEO Ben Walter has said.
MIB bombarded with whiplash questions by confused and frustrated claims sector
The Motor Insurers' Bureau's first update on the whiplash portal since critical rules were released by the government was met with difficult questions and consternation from the claims sector.
Andrew Horton to exit Beazley for QBE group CEO role
Andrew Horton is stepping down as Beazley CEO handing over to Adrian Cox ahead of becoming group CEO of QBE Insurance, the two insurers have confirmed.
Consumers put IPT almost bottom of the list for Budget tax rise targets
Exclusive research by Consumer Intelligence for Post has revealed that the UK public would support increases in almost any other tax ahead of insurance premium tax if the Chancellor opts to bring in rises to help pay for the costs of battling the Covid…
Aviva targets net zero carbon emissions by 2040
Aviva has revealed its plan to become a net zero carbon emissions company by 2040.
Exclusionary language around Covid-19 likely to be 'omnipresent' following 1/1 reinsurance renewals
Reinsurers sought to “tidy up” contracts during January’s renewal season, sometimes to the detriment of possible rate increases, raising questions for insurers as to how to cover excluded risks.
Marine premium growth of 50% in next 10 years an opportunity for London, says Munich Re
The $30bn premium global marine market could reasonably grow to $45bn in the next ten years according to Rob McAdams, head of marine at Munich Re Syndicate.
£77m Covid impact drives RSA UK loss
Scott Egan, RSA’s UK and international CEO, has said the division delivered a “strong” performance in 2020, despite the impact of Covid-19 bringing a halt to its return to profitability in the UK.
MoJ publishes long awaited pre-action protocol as it confirms May debut for whiplash reforms
The Ministry of Justice has published vital rules for the whiplash portal, including the pre-action protocol and practice direction.
For the record: Aviva disposals, Beazley creates digital unit, Fenchurch & Partners launches, new D&O MGA Rising Edge and Zurich invests in insurtech
Post wraps up the major insurance deals, launches and investments of the week
FCA adds four to exec team
The Financial Conduct Authority has recruited four people to its executive leadership team including its first chief data, information and intelligence officer.
Former Aviva CEO Mark Wilson joins forces with Sun Capital to lead motor insurtech Abacai
Sun Capital and ex-Aviva CEO Mark Wilson are targeting a share of the £16bn UK motor insurance market with venture Abacai, building on Complete Cover Group.