Articles by Scott McGee
Zurich says there is nothing to lose from embracing flexible working
Steve Collinson, chief people officer at Zurich UK, said he “understands the reticence and the caution” of embracing more flexible working, but he insists the reality is “very different”.
FOS expects uptick in complaints in 2024/25
The Financial Ombudsman Service has today announced it expects to see 47,400 insurance complaints, of which 18,700 will be about motor insurance, for the period between 1 April 2024 and 31 March 2025.
LexisNexis and Thatcham address concerns over motor data partnership
After complaints about price increases and the abrupt “cancelling of contracts”, bosses at Thatcham and LexisNexis have said their recently announced partnership is updating the “archaic” way in which the data is distributed.
CMA gives Markerstudy/Atlanta merger the green light
The Competition and Markets Authority has cleared the proposed merger of Markerstudy Insurance and Ardonagh’s Atlanta Group following its investigation into the deal.
Ageas rules out any more bids for DLG
Ageas has confirmed that, following two failed attempts, the Belgian insurer “will not” make any more offers for Direct Line Group.
Could the CMA fire the starting gun to unlock M&A in 2024?
News Editor's view: With increased M&A activity predicted for 2024, news editor Scott McGee asks: Is the industry waiting with bated breath to find out the outcome of the Competition and Markets Authority’s investigation into the Markerstudy/Atlanta deal?
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.
Insurtech mindset and legal landscape has changed
The legal sector is “ready for something different” and insurtech founders have shifted their mindset to disposal, according to Beyond Legal founder Nick Pester.
Insurers must bridge the knowledge gap of ‘especially dangerous’ malware
Andrew Martin, CEO of DynaRisk, has called on insurance firms to be better informed around a type of malware that was used as part of the attack on the MGM Grand casino last year.
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…
Allianz sells Premierline to Academy
Academy Insurance Services has reached an agreement to acquire Premierline from Allianz Holdings, as it looks to grow the business’s Ebitda six-fold in five years.
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.
First Central ‘back in the market for a buyer’
Sources have claimed First Central Group is looking for a buyer, after a previous attempt to sell the business fell through.
Aviva’s Lloyd’s entry opens up ‘billions of pounds of business’
Aviva’s UK and Ireland general insurance CEO Jason Storah tells Insurance Post “there are billions of pounds of business that doesn’t get presented to Aviva” because it goes through Lloyd’s.
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.
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).
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.
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.
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.
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.
Are we looking at fraud wrong? And is AI to the rescue?
News Editor’s View: Fraud has long been a scourge of the insurance industry, and with £1.1bn of fraud still going undetected, Scott McGee asks: “Could AI be an avenue to revolutionise fraud and the way the industry approaches it?”
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.