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Abbeyautoline owner Prestige creates broker Stroll as it invests £3m in digital
Prestige Insurance Holdings is investing over £3m and creating 60 jobs in Northern Ireland as it launches digitally-led broking brand Stroll next year.
European insurance industry able to meet customers promises even under extreme one in 1000 year events
A Solvency II stress test conducted by the European Insurance and Occupational Pensions Authority confirms the European insurance industry’s ability to meet promises to customers even under extreme one in 1000-year events.
Swiss Re reports nat cat losses fourth worst since 1970; Davies buys BVS; Leak Bot to go public after reverse takeover; and Ryanair teams up with insurtech
Post wraps up the major insurance deals, launches and investments of the week
GRP holdco sets baseline for Searchlight era with inaugural £42m operating profit
Global Risk Partners’ holding company GRP (Jersey) Holdco has posted turnover of £128.8m in its first set of annual results.
Former and current Fresh owners settle legal case
Kingfisher UK Holdings, NSM Insurance and the sellers of Fresh Insurance have settled the legal dispute over the sale of the business.
NI to change discount rate in New Year
Northern Ireland’s Justice Minister Naomi Long has welcomed the passing of a Bill that will change how the country’s personal injury discount rate is set.
Allianz in Uber tie-up; Assured Partners acquires SW broker; BGL and Covea to launch new direct brand; and Twelve Capital/Eos unveil insurtech focused growth fund
Post wraps up the major insurance deals, launches and investments of the week
Bought By Many doubles GWP and reveals now live in 28 US states
Bought By Many owner Many Group wrote £146m of gross written premium in 2020/21 with turnover up 113% at £37.13m, the business has revealed.
Trade Voice: ABI's Ben Howarth on looking at climate change's impact on customers
Ben Howarth, the Association of British Insurers' climate change and open data policy manager, argues that insurers' approach to climate change ought to focus on the impact on customers.
Incoming Norgrove praised amid market surprise at Egan's RSA departure
Market specialists were surprised by RSA UK & International CEO Scott Egan’s departure but welcomed Ken Norgrove as the new RSA leader and urged him to push on with making the provider more outward looking.
Sampo buys out RMI to take over Hastings in full
Finnish insurer Sampo has paid Rand Merchant Investment Holdings £685m for its 30% stake in Hastings and now owns the whole business.
IMS files patent breach lawsuit over mobile app product from Cambridge Mobile Telematics
Telematics solutions provider IMS has filed a lawsuit against several companies owned by a German motor insurer over an alleged patent breach in a move that could have implications for the wider use of mobile data to personalise pricing.
'Challenging' changes ahead under consumer duty
The Financial Conduct Authority’s consumer duty proposals are set to 'change the face' of the consumer financial services market, experts have said.
Interview: Johnny Timpson
Post meets Johnny Timpson, the driving force behind the Access to Insurance Working Group, which led to the creation of the British Insurance Brokers’ Association’s Access to Insurance Committee launched last summer.
FCA unveils consumer duty 'to drive a fundamental shift in industry mindset'
The Financial Conduct Authority has opened a consultation on the introduction of a consumer duty highlighting its concerns that financial services do not currently always work well for consumers.
ABI adds Colm Holmes and Clare Bousfield to board
The Association of British Insurers has added Allianz UK CEO Colm Holmes and Clare Bousfield, managing director for retail and savings at M&G, to its board.
Axa to reshape claims leadership following exit of Aviva-bound MD
Axa will not directly replace outgoing executive managing director for claims Waseem Malik, instead splitting responsibility for retail and commercial claims.
Aviva insures autonomous shuttle trial; brokers outscore insurers in CX research finds; Howden buys again; Gallagher completes on Willis deal and PPL updates on next gen platform
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Ex-Morrisons and Poundland chairman Andy Higginson to chair Ardonagh Retail
Ardonagh Group has appointed the former chair of Morrisons and Poundland Andy Higginson as chairman of Ardonagh Retail.
Penny Black's Social World: December 2021
From COP26 and climate commitments to charity donations.
Interview: Tara Foley, Axa
After a year in the role as CEO of Axa Retail, Tara Foley sat down with Pamela Kokoszka to discuss her impression of the insurance industry, challenges the sector is facing and her plans for Axa’s retail business.
Aviva recruits Waseem Malik from Axa as chief claims officer
Aviva has appointed Waseem Malik as chief claims officer for UK & Ireland general insurance.
RSA’s Mandy Hunt on bringing through the next generation
Mandy Hunt, chief underwriting officer for commercial lines at RSA and chair of the Chartered Insurance Institute’s Society of Underwriting Professionals, looks at the challenges and actions needed to make insurance a career of choice and attract the…
Claims volumes surge as a result of Storm Arwen
Insurers have received thousands of claims as Storm Arwen brought 98 miles per hour winds causing power cuts and travel disruption across the UK.