News
Jensten’s trio of acquisitions; Aviva’s Glasgow office; Swiss Re’s CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Allianz dispenses musical instrument book to Howden
Howden has agreed to acquire the musical insurance book from Allianz UK.
Co-op Insurance’s Offord addresses Labour’s mutuals aim
Charles Offord, managing director of Co-operative Insurance, said Labour’s aim to grow the number of mutuals operating in the UK is achievable.
FSCS pays out £160m for failed insurers in 2023/24
The Financial Services Compensation Scheme paid out £423m in compensation to customers during 2023/24, with £160m of that going to customers of failed insurers – less than it had predicted.
Undisciplined motor insurers at risk of dragging the market down
Sabre’s CEO Geoff Carter has told Insurance Post that firms must be “disciplined” when it comes to pricing, lest they risk dragging the market down.
Co-op Insurance shares lessons learnt from Amazon encounter
Charles Offord, managing director of Co-operative Insurance, has expressed his disappointment over Amazon’s decision to pull the plug on its Insurance Store but noted it could make a comeback.
FCA takes first steps to achieve proportionate regulation
The Financial Conduct Authority is looking for comment on the level of regulation regarding commercial and bespoke insurance products and companies, while also opening its review of requirements following the introduction of the Consumer Duty.
E-bike battery legislation ‘warmly’ welcomed
The UK government has announced its intention to legislate to reduce the fire risks associated with electric power-assisted bicycles and lithium-ion batteries.
Markerstudy Group to acquire Hughes Insurance
Markerstudy Group has announced plans to acquire Hughes Insurance, subject to regulatory approvals and customary conditions, its first deal since gaining FCA approval on its merger with Atlanta.
Domestic & General looking to utilise AI following growth
Domestic & General CEO Matthew Crummack spoke to Insurance Post about the firm’s artificial intelligence strategy, after its annual revenue passed £1bn in 2024.
UK utility companies face rising cyber threat
Successful cyber attacks against UK utility companies climbed more than 500%, and some fear they could yet rise further, according to Chaucer.
Allianz’s PL motor product; Voyager is acquired; BMS’ growth officer
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Esure loses customer claim in ‘isolated’ incident
Esure has been accused of negligent customer service after BBC’s The One Show highlighted two claims from policyholders who struggled to get in contact with the insurer following accidents.
Devil is in the detail for CrowdStrike outage claims
Last week’s global IT outage could produce insurance losses of up to $1.5bn, though how policies will respond remains uncertain.
Cuvva CEO on achieving profitability in a turbulent insurtech space
In its 2023 annual report, the car sharing insurtech revealed it was able to go from a £6m loss in 2022 to £3.8m adjusted profit in 2023.
Climate activist group defaces insurer windows
A newly formed climate activist group has smashed and defaced windows of major insurers as part of a “campaign of sabotage”.
Claims ‘hell’ with Policy Expert causes mother to set up group
A mother-of-two, who has been through a 17-month battle with Policy Expert following a fire at her home, has set up an action group to help “other families going through hell with claims.”
Insta-scammer left reeling following ghost broking sentence
A man who made £17,618 by selling invalid car insurance policies on Instagram has been handed a two-year suspended sentence.
Wrisk targets European expansion after tripling revenue
Wrisk has told Post the firm is targeting more partnerships and eyeing European expansion, while also addressing the issues surrounding Jaguar Land Rover’s insurance launch.
Thatcham calls on government to address automotive challenges
Thatcham Research has called upon the government to address several key challenges in the automotive sector to help ease high motor premiums.
Brokers and freeholders to face lawsuit over insurance commission
The class action, launched by a City lawyer and leaseholder, Liam Spender, is backed by law firm Velitor, which has secured funding for the no win, no fee claims from Balance Legal Capital LLP.
Insurance claim puts Cardiff trees on chopping block
Two mature lime trees in Riverside, Cardiff, are set to be felled due to a home insurance claim, causing uproar among locals.
Consumer Duty fails to improve insurance customer’s experiences
Most general insurance customers have seen zero improvement in service from general insurance providers since the implementation of the Financial Conduct Authority’s Consumer Duty a year ago, with some even saying things have gotten worse, research has…
Van and moped crash-for-cash schemes on the rise
Crash-for-cash schemes involving vans and mopeds are on the rise and moving into urban areas outside of London, according to Ageas.