UK
Analysis: Broker PI rates going 'through the roof'
As brokers grapple with soaring professional indemnity rates and attention sharpens on the potential for claims in the wake of the ongoing Financial Conduct Authority business interruption court case, Post investigates what the eye-watering price changes…
Automated lane keeping systems advent raises insurance challenges
Insurers have welcomed the government’s consultation into the safe use of automated lane keeping systems in vehicles but warned against making the “huge leap” of believing this “clever bit of technology” is the same as an automated car.
Competition watchdog opens inquiry into Bupa’s CS Healthcare takeover
The Competition and Markets Authority has opened an inquiry into Bupa Insurance’s proposed merger with CS Healthcare, a Friendly Society with approximately 18,500 members originally set up in 1929 to provide health insurance cover for members of the UK…
Sabre chairman Patrick Snowball’s successor named as Andrew Pomfret
Sabre senior independent director Andy Pomfret will take over from the insurer’s chairman Patrick Snowball at the beginning of September.
Kennedys launches virtual work experience programme
Kennedys has launched a virtual work experience programme to replace its usual in-person version and still be able to give would-be lawyers a taste of legal life during Covid-19 disruption.
Ardonagh buys £20m GWP Thames Underwriting
Ardonagh has bought managing general agent Thames Underwriting for an undisclosed sum adding £20m in gross written premium to the business.
Briefing: Fine tuning the risk in Ardonagh’s deal for Bennetts
Ardonagh’s decision to roar ahead with the takeover of motorcycle specialist Bennetts less than a fortnight ago raised a few eyebrows, but really it should not have done.
Bollington breaks through £200m GWP with Watson Laurie buy
Bollington has bought North West based corporate insurance broker Watson Laurie for an undisclosed sum, Post can reveal.
Previsico adds Lloyd’s Lab programme manager Lucy Coutts as BDM
Insurtech Previsico has appointed former Lloyd’s Lab programme manager Lucy Coutts as a business development manager to support its expansion plans across the UK, US and beyond.
FCA extends payment deferral guidance timeframe
The Financial Conduct Authority has kept the temporary measures to help insurance customers hit by the Covid-19 crisis in place until the end of October.
BGL targets million policy mark for renewed Lloyds motor insurance deal
Compare the Market owner BGL Group is aiming to grow its partnership with Lloyds Banking Group to one million policies as the pair signed a five year extension on their exclusive motor and commercial vehicle insurance deal, Post can reveal.
Abbey and Autoline merger to create £119m GWP acquisitive firm
The merger of Northern Ireland brokers Abbey Insurance and Autoline Insurance as Abbey Autoline on 1 September will create a £119m gross written premium growth focused firm that has an eye for striking takeover deals, managing director of the newly…
UK property pricing up 16% in Q2: Marsh
Global commercial insurance prices rose 19% in the second quarter of 2020, research by Marsh has revealed.
CII teams up with UEA to promote insurance careers
The Chartered Insurance Institute has joined forces with the University of East Anglia to help students develop a career in insurance through a programme that includes substantial savings on CII qualifications.
Ardonagh completes Bennetts buy as CMA orders no integration
The Competition and Markets Authority has ordered Ardonagh not to integrate with Bennetts, transfer control or stop competing with it as the consolidator completed the deal to buy the motorcycle specialist.
Second quarter performance pushes Ageas UK COR below 100%
Ageas UK has reported a post-tax profit of £22.8m for the first half of 2020 reversing a loss of £2.7m in the first quarter.
I-Wonder stakes claim for industry first with Sorn site
I-Wonder has partnered with Go Compare for the launch of a Sorn insurance comparison service.
Aviva planning aggregator motor roll out after Confused pilot
Aviva is targeting this autumn for the next stage of its move onto aggregators after a trial with Confused, Colm Holmes, Aviva CEO of general insurance, told Post.
Amanda Blanc promises to shake up Aviva
It is abundantly clear that “meaningful change” is needed to unlock Aviva’s potential, according to CEO Amanda Blanc.
RSA cutting 300 roles
RSA has announced a voluntary redundancy programme as part of a process designed to reduce its headcount by the equivalent of 300 full time roles.
Hastings agrees £1.66bn takeover
Finnish insurer Sampo and South African financial services firm Rand Merchant Investment Holdings have agreed a £1.66bn takeover with the directors of Hastings.
Swiss Re UK CEO Tavaziva Madzinga joins ABI board
Tavaziva Madzinga, CEO of Swiss Re UK and Ireland, has joined the board of the Association of British Insurers.
AIG adds $458m of Covid-19 losses in Q2
AIG reported an underwriting loss of $343m (£262.8m) for general insurance business in the second quarter of 2020.
PE firms circle AA for takeover talks
Motoring group The AA has confirmed holding takeover talks with three private equity parties as it discusses “a wide range of potential refinancing options”.