News
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.
Aviva confirms Lloyd’s return with £242m Probitas deal
Aviva has struck a deal to acquire Probitas, confirming its return to Lloyd's this morning (4 March).
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.
Probitas offices painted ‘blood red’ again
A newfound protest group has emerged and targeted the London offices of three insurers in rage over fossil fuel projects.
Campaigners unleash ‘digital mayhem’ on insurers
Three insurance firms have been digitally targeted by climate activists over their refusal to rule out support for fossil fuel projects.
Consumer Duty will be a success ‘when we stop talking about it’
According to a panel at the Association of British Insurers’ annual conference, the Financial Conduct Authority’s Consumer Duty has a way to go before it is considered a success.
Climate rebels storm insurer offices over support for ‘fossil fuel crooks’
Extinction Rebellion activists have occupied the offices of five insurers in the City of London,as the movement launches its week of action to stop the companies insuring “climate chaos”.
RSA to be ‘number one’ in commercial lines by end of 2025
RSA will be the best commercial lines and specialty insurance company by the end of 2025, according to Ken Norgrove, the provider’s CEO.
Labour promises to rip up red tape for insurers
Tulip Siddiq, shadow economic secretary to HM Treasury, has promised if the Labour party gets into power she will make sure regulation encourages growth and competitiveness in the insurance industry.
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.
Protestors slam Aviva and Allianz for targeting healthy trees
Climate activists have accused the insurance industry for “pointing the finger of blame” at trees, rather than investing its billion-pound profits into preventing flood claims.
ManyPets co-founder to step down as Barile takes on group CEO role
Steven Mendel, CEO of ManyPets parent ManyGroup, has announced that he will step down from his role in mid-April and be replaced by current ManyPets UK CEO Luisa Barile.
Dancing climate protestors target ‘oily money-driven’ Lloyd’s
Campaigners have named and shamed Lloyd’s of London for continuing to “insure and enable” fossil fuel expansion and “human rights–abusing projects”.
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.
Allianz boasts 65% profit resurgence
Allianz Holdings has posted a 65% jump in operating profit in 2023, after 2022’s result was less than half the year before.
Beazley’s cyber security arm; Brokerbility joins Insurtech UK; Lloyd’s confirms general counsel
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Profits jump £1m as Zurich UK enjoys stable growth in 2023
Zurich UK has reported a 9% increase in GWP for its property and casualty business in 2023, while profits jumped by £1m.
Axa points to pricing for GWP and revenue uplift
Axa has reported a 7% increase in its global P&C book thanks to “favourable price effects” throughout all geographies and business lines.
Tysers on the necessity for ‘data-driven’ transformations
Steve Jolley, chief information officer at Tysers, shares how the company transitioned from a traditional to a “truly data-driven” digital insurance platform with low-code.
Insurance surge brings Money Supermarket record revenue
Increased premiums meant consumers shopped around more in 2023, which means Money Supermarket's insurance revenue increased 28% in 2023, leading to the group generating “record revenue”.
Aviva to return to Lloyd’s ‘by the end of the year’
Aviva will be in Lloyd’s by the end of the year, after years of rumours suggesting the insurer's return to the marketplace, a source has told Insurance Post.