Company news
This week: It's all about change
Moving home has to be one of the most annoying and tedious things we have to do. From organising your flat viewings to packing up all your belongings. And honestly who really likes change? It’s much easier to just stay in the place you've grown…
Hastings sees claims costs jump in Q4
Rising claims costs in quarter four are expected to put a slight dent in Hastings’ 2019 dividend payout.
Ecclesiastical group compliance director to retire
John Titchener, group compliance director for Ecclesiastical, will retire later this year.
Allianz business transfers resulted in 180 LV redundancies
180 LV staff faced redundancy as a result of the Allianz commercial business transfers, with around nine in ten (90%) having found roles elsewhere.
RSA e-trading director exits amid strategy changes and departures
Exclusive: Departures and changes for RSA's e-trade division after former e-trading director Paul Trivett leaves the business.
Gefion barred from expanding scope until ‘serious liquidity problems’ sorted
Danish unrated insurer Gefion cannot enter new lines of business or branch out into further territories until it can meet its solvency capital requirement, the regulator has ordered.
Somerset Bridge sells Business Choice Direct
Arron Banks-backed Somerset Bridge Insurance Services has sold its commercial insurance subsidiary Business Choice Direct Insurance Services to Somerset-headquartered Lloyd & Whyte Group for an undisclosed sum.
Ken Randall to step down from R&Q
R&Q has recruited William Spiegel as executive director and deputy group chairman ahead of co-founder Ken Randall stepping down in around 12 months’ time.
RSA commercial motor underwriting director steps down
Ian Kemp stepped down as commercial motor underwriting director at RSA last month.
GRP adds Birrell Group as Midlands hub
Global Risk Partners has taken a majority stake in the Birrell Group, based in Lutterworth, Leicestershire. The group consists of Kingsway Insurance Services and Bausor Hall Associates.
Neon goes into run-off
Neon Underwriting has been put into run-off by owner American Financial Group.
Bought By Many eyes Series C round early this year
Pet insurance insurtech Bought By Many has engaged with a number of larger funds as it edges towards a Series C fundraising round in the coming months, CEO Steven Mendel told Post.
Bollington buys Ashgrove
Bollington Insurance has bought North-West based broker Ashgrove Insurance Services for an undisclosed sum.
Aston Lark names Ireland CEO
Aston Lark has appointed a CEO and chief financial officer for Ireland, following its expansion into the country.
GRP's 2019 acquisition spend revealed
Loss-making GRP, which posted its third consecutive loss last month, acquired ten businesses last year for a total cost of £68.8m.
Be Wiser promotes Sharon Beckett to CEO with Bower-Dyke as chairman
Sharon Beckett has been promoted to CEO of Be Wiser, with Mark Bower-Dyke ending his dual role at the broker and remaining as chairman.
Optio buys Newbridge Risk Partners
Managing general agent Optio has bought specialist political-violence and terrorism MGA Newbridge Risk Partners for an undisclosed sum.
180 years of Post: The magazine that shook up insurance
Post Magazine first appeared on Saturday 25 July 1840, just seven months after the introduction of the Penny Post and was the first publication anywhere in the world to be sent by post – hence its name. It, therefore, ranks among one of the most…
Sure Thing cut losses to £2m in year before sale
Motor broker Sure Thing Insurance Services made a loss of £2.1m in its final year ahead of the sale to Qmetric Group’s Policy Expert last June.
Mike Crane takes new role as Allianz completes purchase of LV GI and L&G
Allianz has completed the purchase of LV general insurance group and the general insurance division of Legal & General, with Mike Crane to head up L&G GI.
Interview: Claudio Gienal, CEO, Axa
Fifteen months ago Claudio Gienal stepped up to the role of CEO of Axa UK and Ireland, but he’s taken his time to reveal his strategy for the firm. He spoke to Stephanie Denton about why clarity, diversity and adding value really matter to him
GRP remains fully focused on 'growth through acquisition' as it reports a loss before tax of £17.9m
In its report and accounts for the financial year ended 31 March 2019, broking group GRP reported a 48% increase in turnover to £112.1m (2017/2018: £75.9m), a rise in operating profit £27.8m (2017-18: £10.2m), and the equivalent EBITDA from the group’s…
PRA ups Lloyd’s scrutiny after whistleblower system failure
The Prudential Regulation Authority has rolled out special requirements for Lloyd’s after it emerged that the only anonymous whistleblowing channel for the corporation’s staff did not work for over a year.
Bupa first to sign up to business diversity pledge
David Hynam, CEO of Bupa Global & UK, has become the first signatory of a government-backed pledge designed to improve diversity within UK businesses.