Articles by Scott McGee
Many Pets’ £42m loss highlights issues
Many Pets posted a £42m loss for the year to 31 March 2023, on top of the £31m loss for the year before.
PRA to undertake general insurance stress test in 2025
In a statement released today, the Prudential Regulation Authority has revealed its intention to run a “dynamic general insurance stress test” some time in 2025.
FCA to hit brokers with fresh leasehold insurance reforms from 2024
The Financial Conduct Authority has issued a wave of reforms around leasehold buildings insurance, coming into force in the new year.
Property claim times to benefit from migrant construction worker influx
The government’s decision to relax the rules for construction workers to enter the UK from abroad, should increase the pool of skilled workers available for property repairs, said Verisk’s head of property Ben Blain, following the release of Verisk’s…
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.
Flock raids industry in flurry of exec hires
Insurance Post can reveal that commercial motor fleet insurtech Flock has completed a series of senior hires, taking top executives from multiple insurers, including Hiscox and Mulsanne.
R&Q nearing sale of Accredited to Onex
R&Q Insurance Holdings has issued a statement confirming it is in advanced talks with Onex Group for the sale of its Accredited business.
A-Plan to be replaced by Howden on high streets
The A-Plan brand is to disappear from 100 branches across the UK, replaced by the Howden brand.
Parametric elements could become part of the basic make up of an insurance policy
With customer expectations increasing, and speed of settlement becoming more and more of a priority, the Chartered Insurance Institute’s Matthew Connell and Altus’s Patrick Hayward believe some parametric elements could become part of the basic make-up…
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.
Q&A: Onno Janssen, CEO, PIB Group Europe
Onno Janssen, CEO of PIB Group Europe, speaks to Scott McGee about PIB's European expansion, and how the the UK and the continent’s regulatory environment differs.
Direct Line launches motor ownership app to build customer engagement
Insurance Post can reveal that Direct Line Group is looking to increase engagement with motor customers by bringing services it provides to motor owners into one space with the launch of Caha!
Cyber security is top insurance concern as global attacks increase
As global cyber attacks increased by 38% in 2022 compared with 2021, the potential theft of sensitive data, as well as phishing and ransomware attacks, has been cited as the greatest global threat to the insurance sector.
Does travel insurance need a revamp?
News editor view: After recent travel stories made front page news, stranded travellers were left without much hope for financial compensation. Could this have been an opportunity for insurance to step in?
Marsh appoints Nick Harris as CEO of UK retail
Marsh has hired Nick Harris as CEO of UK Retail, effective from 1 January 2024, subject to regulatory approval.
Preparation is key as insurers look to avoid repeat of 2022’s storm costs
As the Met Office publishes its annual list of storm names for the upcoming storm season, insurers are looking to avoid a repeat of the financial hit the weather brought in 2022.
S&P predicts cyber reinsurance rates to increase
S&P Global expects cyber reinsurance rates to increase as reinsurers look to return to profitability, but predicts primary underwriters won’t pass the rate increase on to customers.
Briefing: DLG has its CEO, so what next?
Direct Line Group has finally announced who will be taking over the permanent role of CEO. But how big of a task is on Adam Winslow’s hands when he takes over in 2024?
Direct Line Group appoints Aviva’s Winslow as CEO
Direct Line Group has this morning announced that Adam Winslow, formerly CEO of Aviva’s UK and Ireland general insurance business, as its group CEO.
Financial Services and Markets Act: A victory against the regulator?
The Financial Services and Markets Bill was given Royal Assent on 29 June 2023, but is it a victory for the insurance industry – or a missed opportunity?
Is Hiscox no longer the big bad BI wolf?
Editor’s View: Scott McGee considers how lessons can be learned from how Hiscox, which bore the brunt of the initial reputational hit from Covid-related business interruptions claims, has moved on.
Q&A: Jeff Winn, Winn Group
Jeff WInn, founder and executive chairman of Winn Group, describes the origins of the firm, how it managed to increase turnover by 139% in 2022, and how artificial intelligence could play a significant role in its future.