Admiral
Market Moves - 21/28 August 2014
All the latest job moves in the insurance market.
Post Blog: Five reasons why Admiral and Insure the Box make good bed fellows
Earlier this week Postonline revealed Admiral was weighing up a bid for the UK’s leading telematics player Insure the Box.
More pain predicted for motor market as regulation rears its head
Listed insurers Esure, Admiral and Direct Line Group are expected to fare better than most as the motor market enters the toughest part of the underwriting cycle, according to a note published by Berenberg.
Engelhardt hits out at ‘bizarre’ reserve release focus
Admiral group chief executive Henry Engelhardt has labelled concerns on the role of reserve releases in the insurer’s UK motor profitability as “bizarre”.
Admiral’s Chidwick hands CFO remit to deputy
Admiral group chief financial officer Kevin Chidwick is to hand his role to his deputy Geraint Jones in a bid to focus more on the insurer’s US business.
Admiral UK motor profits up 8% on boosted reserve releases
Admiral’s UK motor business has seen profits increase 8% following £73m of reserve releases in the first half of 2014.
Admiral weighing up bid for UK's leading telematics player Insure the Box
Admiral is evaluating a bid for telematics firm Insure The Box just months after announcing a £200m cash raise, Post understands.
Add ons review ‘gloomy reading’ for motor insurers
A regulatory review of the sale of general insurance add ons makes for “gloomy reading” for insurers including Direct Line, Esure and Admiral according to one analyst.
UK motor market not seeing 'sustained recovery in prices'
Despite investor hopes of a hardening market for UK motor, no insurer is making the level of losses needed to spark “a sustained recovery in prices”, according to research from Exane BNP Paribas.
Admiral to post tumbling H1 turnover
Admiral will post slipping turnover figures for H1 next month, in spite of increased numbers of customers both in the UK and group wide.
Insurance companies failing to respond to online questions
An online customer service study of ten major UK insurance players has revealed that just 30% of emails and tweets are responded to successfully.
Aviva top of the pile for digital user experience in motor
Personal lines insurers are lagging behind price comparison sites in terms of digital user experience, financial technology company Instinct Studios has warned.
Admiral grows customer base but turnover droops
Admiral has reported an expanded number of total group customers at the end of Q1, but noted that group turnover has fallen by 7% to £514m (2013 Q1: £551m)
Cyber Crime: Hack attack
As the demand for cyber insurance products grows, insurers are being required to service the market as well as protect their own businesses from cyber attacks.
Admiral remaining vigilant after Aviva data breach
Admiral has said it is actively working with claims teams to mitigate the risk of a potential data breach after Aviva sacked two employees for giving customer data to claims farming companies.
Admiral records 7% profit growth as reserve releases soar
Admiral Group today posted a 2013 pre-tax profit of £370m, a 7% increase on its 2012 result, in a year group chief executive Henry Engelhardt called a “baked potato”.
2013 results: insurers’ CORs boosted by benign weather but RSA takes £244m hit
Insurers’ full‑year results were bolstered by largely benign weather conditions last year as many firms sacrificed market share in motor and home segments to retain profitability.
Add-on sales top the agenda in Competition Commission talks
CHO critical of commission’s credit hire cost calculations,
ABI confident insurers will get behind its personal injury code of conduct
Code aims to combat perception of insurers exploiting PI claims.
Admiral extends reinsurance deals to 2016
Admiral has added an additional year to reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re, extending contracts to 2016.
Law firm demands Axa and Aviva declare motor profits
Thompsons Solicitors is demanding Axa and Aviva reveal their UK motor insurance sales trading figures saying the insurers are in breach of International Financial Reporting Standards until they do so.
CII to engage LV, Admiral and Esure in retail standards scheme
The Chartered Insurance Institute will kick-start its retail standards initiative by asking senior executives at firms including LV, Admiral and Esure whether such a scheme is likely to generate industry-wide support.
Market Moves - 30 January 2014
Admiral, Canopius and Novae were among the recruiters in what was a busy week for insurers, with Bollington and JLT-owned Thistle the brokers making moves.
Admiral guarantees premium discounts for users of new app
Admiral teamed up with telematics provider Wunelli to launch its ‘AppyDriver’ smartphone app in a bid to reward safer driving with discounted premiums.