Commercial
Broker to launch largest UK four-day week trial
Simply Business will trial a four-day working week for employees at its Northampton call centre from September.
AIG Europe posts profit of £59.5m despite a fall in premiums
AIG Europe has reported a profit before tax of £59.5m for the 12 months to 30 November 2018, up from a loss of £431.5m the previous year.
Steve McGill launches new PE-backed specialty risk solutions business
Steve McGill, former group president of Aon, has launched a private equity-backed specialty risk solutions business alongside a team of other senior executives.
GRP brokers make three acquisitions
GRP-owned Cavendish Munro has made one acquisition, while Green Insurance Group has bought two businesses.
Stephen Catlin points to 'vacuum of leadership in the London market' as he launches latest venture
Talking following the launch of new venture Convex yesterday, Stephen Catlin said “there is a vacuum of leadership in the London market”.
Spotlight on: Beazley's Birmingham office
Exclusive: Beazley opened its Birmingham office as part of a strategy to diversify away from its core US business. Fourteen months later, the office is likely to be held up as a model for the company's further expansion plans.
Catlin founder launches PE-backed specialty insurer Convex
Stephen Catlin and Paul Brand, both formerly executives at the Lloyd’s insurer that bore Catlin’s name, have launched a new specialty insurer and reinsurer with $1.8bn (£1.4bn) in initial capital.
Spotlight: Data - Ordering data in
Insurers continue to hang their success on the quality and use of data, with businesses continually reviewing how to gain a commercial advantage. Edward Murray looks at the benefits of using external data providers and why some peril risks have proven…
Flagging personal lines see Covéa's profits slashed
Covéa Insurance saw its underwriting profit slashed to £1.8m in 2018 compared to £12.4m in 2017, as its personal lines business felt the impact of claims inflation and adverse weather.
UK General's Matthew Schofield on how profit, not volume, will drive growth and respectability of MGA sector
In recent months managing general agents have been in the spotlight, with the media seeking to get under the skin of one of the fastest growing insurance sectors. UK General's Matthew Schofield says MGA management teams need to now stop 'navel gazing'…
Blog: To grow, insurers must hit the open road
Insurers operate today in a relatively mature market environment but Max Richter, managing director for insurance, Accenture UK and Ireland, argues that it offers limited opportunities for growth and relatively few new products coming onto the market
Machine learning insurtech raises £4.2m in seed investment round
London-based insurtech Artificial Labs has announced it has raised £4.2m in a seed round to scale up its team, product offering and geographic reach.
This week: Easter egg-citement
As we head towards a welcome four-day weekend, the insurance world has been getting in the spirit for Easter in the only natural way: smashing chocolate eggs.
Blog: Aquiline's recommitment to ERS highlights turnaround success after dark days of IAG
Jonathan Swift reflects on the turnaround at ERS and why Aquiline might have decided to wait to sell the motor insuer
Cytora becomes UK's best funded insurtech with £25m Series B raise
Cytora, a provider of artificial intelligence-powered solutions for the commercial insurance sector, today announced the largest funding round by a UK-based insurtech in 2019 as it looks to expand its product suite and enter new territories including the…
Analysis: Joining forces on Adas: How motor manufacturers are looking to work with insurers on driver safety
As insurers complain of double-digit increases in repair costs as a result of advanced driver assistance systems, Edward Murray spoke to motor manufacturers about why the underwriting focus needs to move from the driver to the vehicle.
Trade credit claims mount as UK tops global insolvency forecasts
Trade credit insurer Atradius has forecast that global insolvencies are set to rise for the first time in 10 years, with the UK facing the highest increase of all advanced markets.
Analysis: How can insurers offset the increased repairer costs associated with Adas?
For all the work has been done by the insurance industry to contain and control personal injury costs, many are seeing repair claims increasing as a result of a wider use of advanced driver-assistance systems. Edward Murray looks at what the sector can…
Insurtech start-up Insurdata raises $3m in seed round
Insurtech Insurdata has secured $3m (£2.29m) in seed funding from a group of investors led by Anthemis and Menlo Ventures.
Research: Cyber - is it responding to market needs?
For Insurance Post's latest research project, we're delving into the world of cyber. What is making companies tick at the moment? How are they dealing with threats? What can insurers, brokers and managing agents do to ease the digital journey ahead?
Analysis: Iprism moving beyond Gable
Managing general agent Iprism's latest accounts show profits dived and tens of millions of pounds was wiped off the valuation of the company, following the demise of former unrated insurer partner Gable.
Iprism and MGU Eaton Gate no longer trading together
Exclusive: Managing general agent Iprism no longer deals with its former director’s managing general underwriter Eaton Gate, Post can reveal
Crawford & Co on hunt for UK & Ireland head as Clive Nicholls steps down
Crawford & Company has begun the search for a new president, UK and Ireland, after incumbent Clive Nicholls announced his intention to retire on the 30 September 2019.