Motor
Aon unveils operational risks solution; Admiral launches PI policy; Clear inks another deal
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Fair settlements should be ‘simply expected’ following FCA warning shot
Following a call to insurers from the Financial Conduct Authority to ensure fair value, industry commentators have said that fair value is “simply expected”.
Saga holds off sale of insurance arm
Saga has announced that it is pausing its pursuit of a sale of the insurance business as it waits for improved market conditions.
Steps insurers should take to become inclusive innovators
Analysis: Emma Ann Hughes explores what it will take to create an inclusive insurance industry culture that is capable of producing products and services suitable for a wider cross section of society.
How Johnny Timpson refuses to let disability define him
Former Cabinet Office Disability Ambassador Johnny Timpson and winner of Insurance Personality of the Year at the British Insurance Awards explains how he works with a musculoskeletal impairment plus his neurodivergence to make the industry more…
FCA issues deadline for insurer action over Gap products
The Financial Conduct Authority has written to insurers warning that more action is required in order to guarantee good customer outcomes.
MPs call for OIC case backlog investigation
In a report published today, the Justice Committee has urged the Ministry of Justice to investigate the case backlog within the Official Injury Claim portal.
Home insurance payouts outpace premiums in Q2 2023
The latest figures from the Association of British Insurers reveal that £782m was paid out in home insurance claims in the second quarter of 2023.
Markerstudy to use tough PL market to fuel further growth
Following its merger with Atlanta Group, Markerstudy Group said the current squeeze of the personal lines market, and the added pressure of more strict regulation, presents an opportunity to grow the business further both organically and through…
Ardonagh and Markerstudy’s £1.2bn merger confirmed
The Ardonagh Group and Markerstudy Group have agreed a merger between Markerstudy and Atlanta Group, Ardonagh’s personal lines broking business, to create a “major new player” in the UK insurance market.
Vitality drops out of car insurance market after just two years
Vitality has dropped out of the personal lines motor market after just two years, announcing that it is “no longer offering new car insurance policies,” Insurance Post can reveal.
Motor and building insurance complaints hit five-year high
Quarterly data from the Financial Ombudsman Service shows that complaints relating to motor and buildings insurance have reached their highest level in five years
Travel insurance predicted to lead growth in personal lines
Data from Smart Money People has revealed that travel insurance is set to grow by 15% over the next year, the highest growth projection of the top ten insurance policies.
#30 Provinzial
Germany-domiciled Provinzial slips from 28th place in last year’s list to 30th in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 4.6% average premium growth for the year.
Top 30 European Insurers 2023: Claims inflation bites
Europe’s 30 largest non-life insurers have demonstrated solid top-line growth over the past two years, following a drop in 2020.
Furness appointed as Motor Repair Network MD
Former Covéa Insurance boss Adrian Furness has been appointed as managing director of Motor Repair Network.
Fraudulent four jailed over 'crash for cash' claims
Four fraudsters have each landed themselves a sixth month jail sentence after taking part in a ‘crash for cash’ scam.
Gallagher expands SME & PL ops; SRG launches sports and media division; RSA appoints commercial CUO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Direct Line woes continue into 2023 with £78m H1 loss
Direct Line Group has reported an operating loss of £78.1m for the first six months of 2023, compared with a profit of £197m for the same period in 2022.
RSA CEO reveals plans for commercial lines after DLG deal
As RSA’s £530m purchase of Direct Line’s brokered commercial lines operations made the insurer the third-biggest player in this space, Ken Norgrove, CEO of RSA, revealed his plans to make further in-roads with the market's brokers.
RSA buys DLG’s commercial lines business for £520m
It was announced last night that RSA and Direct Line had struck a deal that both businesses claim will boost their bottom lines.
How insurers are putting the pedal to the metal for mobility trends
Analysis: Fiona Nicolson explains what insurers looking to stay in the fast lane, as mobility trends develop, need to do to satisfy drivers and maintain profits.
Motor insurance payouts rose faster than premiums in Q2
The Association of British Insurers has revealed that motor insurance payouts rose by 29% in Q2, up to £2.5bn, outpacing premiums.
24 firms battle it out on 11th Lloyd’s Lab pitch day
The Lloyd's Lab programme is returning for its eleventh cohort, seeking “fresh ideas” to challenge how the insurance sector operates and help the Lloyd’s market better serve its customers.