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Insurtech: Insurtech 100: May - July 2019 quarterly update
Hippo, Lemonade and Zego are just three of the start-ups that have been in the news recently. Matt Connolly, founder and CEO of Tällt Ventures, reflects on a what has been happening for the Insurtech 100 since the list was published in May.
Blog: How cyber security ‘scoring’ could be the solution to drawbacks in cyber security risk modelling
Cybercrime is becoming an increasingly sophisticated and widespread issue. As we enter a new decade, it’s clear that few individuals, organisations and governments will be exempt from danger writes Andrew Martin, CEO at DynaRisk.
Biba launches 2020 Manifesto: Access
The British Insurance Brokers’ Association called for more proportionate regulation as it launched its 2020 Manifesto: Access.
Alleged FCA data for sale on online forum
The Financial Conduct Authority has issued a warning after what appears to be data held by the regulator appeared for sale on a website.
Hyperion confirms £300m war chest with 20 deals in pipeline
Hyperion has £300m to spend and around 20 deals in its mergers and acquisitions pipeline, group chief financial officer Mark Craig told Post as the group announced its 2019 results.
Car insurance premiums jump 5% in 2019: Confused and WTW
Comprehensive car insurance premiums in the UK increased by 4% in the final quarter of 2019, taking the annual uplift to 5%, according to the latest Confused Car Insurance Price Index in association with Willis Towers Watson.
Financial services survey finds insurance optimism surging
Optimism among insurance providers has soared to its highest level in years, according to the latest CBI/PwC Financial Services Survey, with brokers also increasingly upbeat.
Hastings sees claims costs jump in Q4
Rising claims costs in quarter four are expected to put a slight dent in Hastings’ 2019 dividend payout.
Pukka hits pause on business
Exclusive: Motor managing general agent Pukka has temporarily suspended trading, having reached its capacity limit with providers.
FSCS reveals £12.4m cost of Qudos and Lamp failures
The Financial Services Compensation Scheme has forecast that the failures of Qudos Insurance in December 2018 and Lamp Insurance in May last year will cost £12.4m this financial year.
FSCS set to cut levy for insurers as broker bill rises in 2020/21
The Financial Services Compensation Scheme has proposed a levy on general insurance providers of £118m for 2020/21, down £47m on the budget for the current year.
Gefion barred from expanding scope until ‘serious liquidity problems’ sorted
Danish unrated insurer Gefion cannot enter new lines of business or branch out into further territories until it can meet its solvency capital requirement, the regulator has ordered.
Trade Voice: Ozlem Gurses of Bila on insurtechs and fair treatment of consumers
Ozlem Gurses, reader in insurance and commercial law at King’s College London and British Insurance Law Association committee member, asks if the oversight of insurtechs is keeping up with the potential damage to consumer protection that new technology…
Go Compare urges 28 day cooling off period for auto-renewals
Go Compare has called for a doubling of the cooling off period for auto-renewals from 14 to 28 days during which time insurers should take “all reasonable steps” to make customers aware their insurance has been auto-renewed.
Somerset Bridge sells Business Choice Direct
Arron Banks-backed Somerset Bridge Insurance Services has sold its commercial insurance subsidiary Business Choice Direct Insurance Services to Somerset-headquartered Lloyd & Whyte Group for an undisclosed sum.
Matson hints at US reinsurance M&A following Capsicum Re buyout
Capsicum Re could seek to expand its presence in the US through acquisitions, Gallagher UK broking and underwriting CEO Simon Matson has said, following the company’s acquisition of the reinsurance broker.
CII ready to be 'held to account' over corporate chartered status refresh
The Chartered Insurance Institute is ready to be held to account, having rolled out its priorities for refreshing corporate chartered status last year, professional standards director Melissa Collett told Post.
GRP adds Birrell Group as Midlands hub
Global Risk Partners has taken a majority stake in the Birrell Group, based in Lutterworth, Leicestershire. The group consists of Kingsway Insurance Services and Bausor Hall Associates.
Gallagher takes full ownership of Capsicum Re
Gallagher has taken full ownership of reinsurance broker Capsicum Re in a deal that will see its former CEO Grahame Chilton return to the company.
Allclear appoints Cameron Jack as group CFO
Allclear has recruited Cameron Jack as group chief financial officer from retail group TFG London where he spent five years as CFO.
This week in Post: Back to business
With the holiday break over, this week has seen people across the UK – some somewhat sluggishly – get back to business.
BHIB launches online freelancers brand Create Insurance
BHIB has rolled out Create Insurance an online offering targeting freelancers in the creative industries, from photographers to script writers.
Somerset Bridge adds Beazley and ex-DLG leaders as NEDs
Arron Banks’ Somerset Bridge Insurance Services has appointed Christine Oldridge and Damian Arnold as non-executive directors.
Radius Payment Solutions confirms redundancies as it pivots insurance operations to Sheffield
Exclusive: Radius Payment Solutions has made a Crewe-based team within its insurance division redundant as it looks to consolidate its insurance operations in the offices of Sheffield-based Burley Group, which it acquired last year.