News
Esure profit slides as digital investment continues
Esure’s profit after tax fell by £22.3m in 2021 and it saw a comprehensive loss of £7.1m, which the insurer’s chief financial officer told Post is a result of its ongoing digital investment.
HSBC extends Marsh deal; Zurich to set up transformation Centre of Excellence; Pool Re completes expanded terrorism placement; and Howden acquires again
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
British Insurance Awards Countdown: How much money has been raised by award-winning insurance start-ups over the past 10 months?
There are only six working days left (including today) to get your British Insurance Awards entries in [closing date: 11 March].
UK to block Russian aviation and space businesses from accessing insurance
The UK government will introduce further sanctions in response to the Ukraine conflict, with legislation to bar Russian aviation and space companies from accessing insurance cover.
From ‘laggard’ to ‘leader’ as AIG commits to stop supporting fossil fuel expansion
Campaigners said AIG has vaulted itself from “laggard” to leader in the US as it committed to no longer invest or underwrite new coal-fired power plants, thermal coal mines or oil sands.
Admiral rakes in bumper profit
Admiral’s 2021 profit soared with staff to receive free shares worth up to £3600.
Hiscox expects minimal Ukraine conflict impact but ‘too early to speculate’ on cyber
Hiscox is anticipating the crisis in Ukraine will have a limited impact on its business, both directly and indirectly.
Concerns persist around public understanding of self-driving vehicles
With different levels of autonomous technology available, insurers have warned that an Automated Vehicles Act must be clear on what self-driving cars can and cannot do and this must be communicated effectively.
Aviva UK grows commercial GWP by 15%
Aviva UK grew gross written premiums and saw operating profit improve in 2021.
Lloyd's appoints Sara Gomez as chief people officer
Lloyd’s has appointed former Direct Line Group human resources director Sara Gomez as chief people officer with immediate effect.
FCA presses on with plans to scrap bonuses as it revises pay proposals
The Financial Conduct Authority has pressed on with plans to bring an end to performance-based bonuses for staff, prompting condemnation from the trade union Unite.
Aviva confirms 80 Fenchurch Street move
UK insurance giant Aviva has confirmed it is leaving its London St Helen’s headquarters for a Fenchurch Street location.
Aviva to give staff £1000 each in shares
Aviva has reported its highest gross written premium from continuing operations in "over a decade" and will grant its 22,000 employees £1000 each in shares.
Self-driving vehicle data sharing rules must be right from day one, insurers urge
Insurers have warned that any duty to disclose data in an Automated Vehicles Act must be right from "day one" to avoid lengthy litigation.
British Insurance Awards Countdown: In 2021, 10 awards were won by firms beginning with which letter?
Five firms, which received 10 awards between them in 2021, all have names beginning with the same letter. What letter is it?
Ceta’s parent company appoints Matthew Birney as group pricing director
Atec Group, the parent company of Ceta Insurance and MGA Arkel, has appointed Matthew Birney as group pricing director.
MGAA adds Brown and Morris to its board members
The Managing General Agents’ Association has added Harbour Underwriting managing director Sharon Brown and HDI Global Specialty’s UK director of underwriting for delegated authority William Morris to its board.
Optio appoints David Robinson as managing director
Specialty managing general agent Optio has appointed David Robinson as managing director.
Aon hit by cyber incident
Aon has been affected by a cyber incident, the global broker updated.
Russia’s Ukraine war to ‘substantially’ impact global insurance industry: AM Best
The Russian invasion of Ukraine is likely to have a substantial impact on the global insurance industry in the near to midterm, AM Best has said.
Lloyd's appoints special advisor to boost investor access
Lloyd’s has appointed former Guy Carpenter executive Des Potter as a special advisor to chief financial officer and chief operating officer Burkhard Keese, with a focus on making it easier for investors to access Lloyd’s.
Kingsbridge names Paul Havenhand CEO
Kingsbridge Group has appointed Paul Havenhand as CEO, succeeding James Twining.
Corbin & King’s £4.4m victory against Axa opens insurers up to more and larger BI claims
The Commercial Court has ruled that Axa must indemnify restaurant group Corbin & King £4.36m for closures during the first year of the pandemic.
Insurers wasting time and putting public at risk with fruitless CCTV requests
Exclusive: Claims handlers are badgering Traffic Scotland with requests for CCTV footage – but insurers may be pointlessly taking resources away from public safety matters.