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Pen’s Zurich deal; CFC’s M&A team; AIG’s leadership change
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Are we ever going to stamp out underinsurance?
News Editor’s View: As Aviva’s broker barometer shows underinsurance remains a major concern for brokers, with almost three-quarters worried their clients may not have adequate cover, Scott McGee questions what the industry is doing to ensure everyone is…
Home insurance premiums climb by nearly a third
Home insurance premiums increased by 31% between January and March 2024, according to the latest research from Compare the Market.
Why non-standard home insurance is increasingly the norm
Non-standard household is a growth area but all too often mainstream insurers turn down the business, so Rachel Gordon examines is it time for a rethink or can MGAs meet the need?
Esure offers customers six-months free cover for latest tech glitch
Esure has confirmed that it has offered six months free home insurance to “a small number of customers” for a “technical error”, which means customers who renewed on 1 April can’t make claims or update their details via the provider’s website.
Big Interview: Jason Storah, Aviva
In his first full profile interview since taking over as UK and Ireland General Insurance CEO at Aviva, Jason Storah sits down with Scott McGee to talk about the insurer's re-entry into Lloyd's, where else Aviva could yet expand, and the differences…
Perils warns of continued storms as it gives third Babet damage estimate
Perils has disclosed its third industry loss estimate for the floods and storms caused by storm systems Babet and Aline that hit the British Isles and north western Europe in October 2023.
Diary of an Insurer: Avantia’s Jess Woodhouse
Jess Woodhouse, chief operating officer at Avantia Group’s specialist home insurance provider Homeprotect, is up with the lark (or her children), ready to manage her team and discover new technology.
Aviva CEO warns home insurance premiums need to go up
After Aviva said the motor insurance market has shown early signs of softening, UK & Ireland general insurance CEO Jason Storah has warned home insurance premiums “still need to go up”.
Value of weather damage claims revealed
Data analysis: Property insurers paid out the equivalent of £13m every day last year due to events such as storms, flooding and theft.
Direct Line brings in Aviva’s Poole as CFO
Jane Poole is leaving Aviva to reunite with her former boss Adam Winslow and take on the role of chief financial officer at Direct Line Group.
Ageas catches out fraudster who lied about burglary
A fraudster has been convicted after he made a claim to Ageas for goods he said were stolen that had instead been sold on an auction site.
Admiral completes RSA home and pet deal
Admiral has announced the successful closure of the acquisition that brings in RSA’s home and pet books in a deal worth an initial £82.5m.
Lithium batteries causing fire-related home claims to surge
Prestige Underwriting has called for better collaboration between e-bike manufacturers and insurers, after the average cost of fire-related home insurance claims has quadrupled since 2007, to more than £24,000.
Direct Line CEO reveals plan to get business ‘back on track’
Direct Line Group’s CEO, Adam Winslow, has claimed the insurer has “strong foundations to build on”, adding the motor business had “turned the corner”.
LV’s checks catch serial travel insurance fraudster
A man who changed his name multiple times by deed poll and used the identities of his family and friends to make bogus travel insurance claims worth an estimated total of £75,000, has been sentenced.
Direct Line aims to cut costs by £100m following £189m loss
Direct Line CEO Adam Winslow has revealed plans to slash operating costs by £100m by the end of 2025 after the business made a £189.5m loss in 2023.
Big Interview: Nick Turner, NFU Mutual
Nick Turner, group CEO of NFU Mutual, sits down with Harry Curtis to explain the insurer's growth ambitions, what it's like running a mutual, and how it serves rural communities.
Could premium finance face Gap-like FCA action?
After the Financial Conduct Authority’s Matt Brewis labelled premium finance a “poor product”, Scott McGee examines if the industry has done enough to defend this method of paying for insurance or whether the regulator will soon feel forced to clamp down…
Pet insurers with satisfied customers revealed
Data analysis: Fairer Finance’s latest consumer survey reveals the pet insurers with the most extremely satisfied customers and examines the lessons providers need to learn from the Financial Ombudsman Service increasingly ruling in favour of complaining…
Admiral CEO shares electric vehicle ambitions
As Admiral reported pre-tax profits of £597m from its UK insurance operations in 2023, CEO Milena Mondini De Focatiis revealed to Insurance Post the insurer’s ambitions to be a “leader in electric vehicles.”
Ageas mulls £3.1bn bid for Direct Line
Ageas has confirmed that it is in the “preliminary stages” of considering a £3.1bn bid for Direct Line.
Admiral partners with Google Cloud for new products
Admiral has struck a deal with Google Cloud, which will see the technology giant host the provider’s policy management and billing platforms plus use generative artificial intelligence to produce new products and services.
Impact of hidden plastic pipework on claims costs laid bare
Analysis of more than 3000 escape of water claims by McLarens found that “trace and access” cover was required in more than half of all claims (51%).