News
Direct Line shareholders approve Aviva takeover
Direct Line Group shareholders have today (10 March) approved the £3.7bn takeover from Aviva.
RSA’s Norgrove reveals ‘acquisition is on the radar’
Ken Norgrove, CEO of RSA UK and Ireland, has shared that while he mainly aims to grow the business in the UK and Ireland organically, he is also always on the hunt for consolidation opportunities.
Ola Jacob leaves Descartes for Global Parametrics
Ola Jacob has left Descartes Underwriting to become London Market business development director at Global Parametrics.
Ghost brokers ordered to pay back £376,000
A court has granted confiscation orders against two men who were convicted for their roles in a ‘ghost broking’ motor insurance scheme.
Allianz seeking legal action after two days of Palestine protests
After two days of protests from Palestine Action, a spokesperson from Allianz UK has confirmed the insurer will be seeking legal action.
Storm Éowyn losses pegged at ‘moderate’ £520m
Perils has this morning (10 March) disclosed its initial industry loss estimate for Storm Éowyn, which affected the Republic of Ireland, Northern Ireland and the Central Belt of Scotland from 24 to 25 January.
Court of Appeal overturns judgment in favour of insurer
The Court of Appeal has overturned a lower court judgment in favour of insurers, providing a clarification on the how the courts will interpret the Insurance Act (2015).
Mapfre Re x CyberCube; Specialist Risk Group buys broker; Hiscox’s chief auditor
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Career Returners programme could reduce Markel gender pay gap
Markel’s Career Returners programme could aid in reducing its gender pay gap, according to head of diversity and inclusion Julie Humphreys.
CII to overhaul qualifications
The Chartered Insurance Institute intends to ditch three-hour examinations and overhaul all 115 units, plus around 50 qualifications in the next couple of years.
FSCS hires Martyn Beauchamp as CEO
The Prudential Regulation Authority and Financial Conduct Authority have appointed Martyn Beauchamp as CEO of the Financial Services Compensation Scheme.
Acorn’s CEO seeks fresh finance for growth plans
Mike Lloyd, CEO of the Acorn Group, has responded to rumours the non-standard motor and home insurer is up for sale, and confirmed he is seeking finance to grow the business.
Admiral chiefs share thoughts on Aviva/DLG deal
Admiral’s CEO and CFO have said they are keeping a “close eye” on how Aviva’s acquisition of Direct Line Group develops, but insist the business will not be making any reactionary changes.
Admiral almost doubles profit as UK customer numbers surge
Admiral Group has this morning (6 March) revealed it grew it's pre-tax profit by 90% in 2024 compared with 2023, while UK insurance customers grew by a fifth.
Storm-related claims surge in Q4 2024
Verisk’s latest property report for UK claims has revealed a 62% surge in storm-related claims in Q4 2024 compared to the third quarter.
Motor finance delays causing FOS complaints backlog
The Financial Ombudsman has this morning revealed complaints for the financial year 2024/25 are still “significantly higher than in 2023/24”.
Direct Line swings back to profit
Direct Line Group has this morning (4 March) revealed it has returned to operational profit, with CEO Adam Winslow praising the “significant progress” made so far in “transforming the business”.
Home premiums ‘still need to go up’ says Aviva’s Storah
In a repeat of his calls last year, Aviva’s UK and Ireland general insurance CEO Jason Storah has said home insurance premiums “still need to go up further”.
Flood Re appoints CEO
Flood Re has hired Perry Thomas as its new CEO, effective immediately, subject to regulatory approvals.
Palestine Action targets Aviva for the second time
Palestine Action has targeted two Aviva offices in Scotland in the early hours of this morning (28 February), marking the group’s second protest against the insurer.
Allianz UK to drop LV brand in 2026
Allianz UK’s CEO Colm Holmes has confirmed to Insurance Post that the LV brand is to be dropped in 2026.
Admiral joins Build Back Better; PIB’s milestone; Lockton’s GM
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Compare the Market to allow providers to self-test
Ursula Gibbs, chief commercial officer of Compare the Market, has revealed the aggregator is “levelling the playing field” by giving 100% access to provider partners to self-service test.
Aviva’s Storah predicts volatility in commercial pricing this year
Speaking after Aviva announced its full year results, UK and Ireland general insurance CEO Jason Storah said rates are “lumpy”.