News
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.
ABI outlines plan to tackle motor insurance premiums
The Association of British Insurers has unveiled steps the industry will take to bring down motor insurance premiums after the cost of cover soared by 25% in 2023.
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.
NFU Mutual lifts the lid on cost of recent storms
NFU Mutual has urged customers to make flood-resilient repairs, after revealing £10m of flood damage was reported to it following Storm Henk last month.
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.
British Insurance Awards deadline for entries is 1 March
The clock is ticking to enter the 2024 British Insurance Awards – all entries must be submitted by the 1 March deadline.
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.
Lloyd’s CEO addresses rumours he is big game hunting
John Neal, CEO of Lloyd’s of London, has responded to claims he is chasing more multi-national insurers to join Aviva and enter the marketplace.
Insurers urged to help curb illegal charter flights
The insurance industry has been urged to play its part in raising awareness around the issue of illegal charter in the aviation sector.
‘Significant increase’ in tinnitus claims since whiplash reforms
Law firm HF has warned that tinnitus has become a common symptom appearing in road traffic accident claims since the whiplash reforms.
Covéa and Markel win Covid BI reinsurance disputes
Covéa and Markel have won a court battle to secure reinsurance cover for Covid-19 business interruption losses.
IFB warns of uptick in ‘underreported’ romance insurance fraud
Following the rise in romance insurance fraud, when a fraudster takes advantage of a romantic partner to extort money out of either them or an organisation, the Insurance Fraud Bureau has told Insurance Post that the issue remains ‘underreported.’
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.
Allianz exposes fundamentally dishonest hearing loss fraudsters
Allianz, along with DWF, has successfully seen two court cases for noise-induced hearing loss dismissed by judges, following the claimants being found to have been fundamentally dishonest.
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”.
Shaw promoted to CEO at Tokio Marine Kiln
Tokio Marine Kiln has promoted its chief underwriting officer, Matthew Shaw, to CEO amid leadership changes at parent group Tokio Marine.
Insurers liable for loss of credit hire rental income, rules Supreme Court
The Supreme Court has ruled that insurers are liable to pay for loss of rental income when credit hire vehicles are taken off the road by traffic accidents.
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.