Motor
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.
British Insurance Technology Awards shortlist 2024 announced
Today Insurance Post can reveal the shortlist for the 2024 British Insurance Technology Awards.
RSA ‘not finished’ building commercial book
Briefing: Sources have told Insurance Post that RSA is ‘not finished’ with its commercial build, with one claiming the insurer is looking at the potential purchase of Covéa’s commercial lines business.
Sabre doubles dividend as it posts record premium income
Sabre has posted record premium income of £225.1m for 2023, while total dividend has doubled to 9p per share.
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.
Scale of motor insurance quote manipulation laid bare
Data analysis: As the cost-of-living crisis caused a growing number of people to feel the pinch over the last two years there has been at least a 20% uptick in quote manipulation, analysis of 360 million quotes has revealed.
Q&A: Aviva’s Ryan Birbeck and Michael Yabantu
Aviva’s Michael Yabantu, managing director of mid-market, and Ryan Birbeck, broker and client development director, sit down with Insurance Post to talk about the internal changes Aviva has made to make access easier for brokers, what product lines it…
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…
Top trends driving motor insurance
Post Podcast: 2024 will be a corrective year for motor insurers as they move back towards profitability, industry experts have predicted.
Aviva to continue pricing ‘ahead of inflation’
Jane Poole, Aviva’s chief financial officer for UK & Ireland General Insurance, has said the insurer will still price ahead of inflation moving forward, after seeing "early signs" of the motor market softening.
Aventum founder ‘extremely proud’ as son impresses on Formula One debut
18 year-old Ollie Bearman, the son of Aventum CEO and founder David Bearman, made his Formula One debut this weekend, finishing an impressive 7th after filling in for Ferrari teammate Carlos Sainz.
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…
SimplyBusiness and Zurich partner; Howden buys Hencilla Canworth; Flood Re joins Biba
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva cites ‘favourable’ PL rating as UK&I GI profits surge
Aviva has reported its UK and Ireland general insurance business grew gross written premiums by 16% while the provider’s operating profit surged 63% in 2023, and GI CEO Jason Storah said he is “confident” the business “will build on success” in 2024.
IPT haul helps Hunt fund 2p National Insurance cut
In today’s Budget documents, the Office for Budget Responsibility increased its estimated tax haul from insurance premium tax by more than £370m between 2023-24 and 2028-29.
FCA pauses all Gap insurance sales
The Financial Conduct Authority has ordered all providers of guaranteed asset protection insurance to pause selling the product by the end of this month.
Scale of motor insurance market shrinking laid bare
Data analysis: Mike Powell, insight manager for banking and general insurance at Defaqto, examines why there are now 14% fewer insurance brands selling comprehensive car insurance than there were 10 years ago plus what features have been stripped out of…
Aviva and Howden partner; Ecclesiastical’s Cockrem to retire; Eurochange to launch travel insurance
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Motor insurance ‘as affordable now as it was in 2018’
Sabre CEO Geoff Carter has said that the burden of paying for motor insurance premiums is no worse now than it was in 2018.
Roundtable: The future of mobility – is the courtesy car still viable?
Is the courtesy car a relic of the past? Insurance industry and body shop representatives explored this question and new mobility options at a recent Insurance Post roundtable held in association with Enterprise-Rent-A-Car roundtable. Izabela Chmielewska…
Q&A: Paul Jewell, Bridgehaven
Paul Jewell, CEO of Bridgehaven, talks to Insurance Post about the advantages of the hybrid fronting model and reinsurers’ reticence around motor business.
How green parts help insurers meet EU requirements
Analysis: Tom Luckham explains why the European Union's Corporate Sustainability Reporting Directive is pushing motor insurers towards even greater use of green parts.
Insurance is ‘inherently discriminatory’, says White
Axa’s UK CEO Tara Foley has said the protection gap is “very real”, while Stella’s founder and CEO Sam White believes the industry is “inherently discriminatory”, even if it does not intend to be.
Motorists living in diverse areas pay more for car insurance
Customers in the most ethnically diverse areas in England face higher car insurance premiums than those in areas with fewer minorities, a BBC investigation has revealed.