News
Insurer CEOs focusing on cost cutting rather than diversity
Reboot’s 2024 Race to Equality report has found that budget cuts are the biggest contributing factor to the slowing down or silencing of diversity efforts.
Is a Direct Line sale an inevitability?
Briefing: Even though it said it will not “engage further” after Aviva’s takeover attempt, is a Direct Line Group sale an inevitability?
FCA softens enforcement transparency plans following feedback
The Financial Conduct Authority has today opened up its second phase of consultation surrounding its plans to name firms into which it opens up investigations.
Policy Expert gets capacity for pet push
Policy Expert has announced Bridgehaven will provide capacity for the business alongside Accredited, allowing the personal lines insurer to finally launch pet cover.
Aviva attempts ‘opportunistic’ take-over of Direct Line
Direct Line’s board confirmed this evening (27 November) that they have rejected a £3.3bn takeover bid from Aviva - the second suitor they have turned down so far this year.
Mike Crane joins Axa Commercial as SME and specialty director
Mike Crane, formerly managing director of LV Broker, has been appointed as Axa Commercial’s SME and specialty director.
FCA to reduce costs after ‘open cheque book’ feedback
The Financial Conduct Authority plans to reduce regulatory costs, in response to feedback that it treats the industry like an “open chequebook”.
Guidewire teases enhanced focus on pricing products
Will McAllister, senior vice president and managing director of EMEA at Guidewire, has told Insurance Post the firm will begin deploying pricing products “in a much shorter timeframe”.
Lloyd's Neal calls CrowdStrike 'warning shot' to insurers
John Neal, CEO of Lloyd’s of London, has described the CrowdStrike outage as a “warning shot” for insurers on the importance of cyber resilience.
Average cost of lithium battery fire claims hits £50k
The average cost of fire-related home insurance claims involving lithium batteries has hit £50,000, according to data from Allianz.
Axa triumphs over Google-spoofing advertiser
Keoghs and Axa have thwarted an attempt by a credit hire organisation to claim unrecovered hire charges from a consumer who was the victim of Google-spoofing fraud.
Five-year UK cyber attack costs hit £44bn
Howden research has found that more than half (52%) of UK businesses have suffered at least one cyber attack in the past five years, equating to £44bn of lost revenue.
Government to consult on leasehold commission ban
In a written statement published yesterday, the Minister of State for Housing, Communities and Local Government has said the government “will go out to consultation very shortly on the detail of the Act’s ban on buildings insurance remuneration”.
Foil elects Keoghs partner Dean as president
Howard Dean, partner at Keoghs, has been elected president of the Forum of Insurance Lawyers for 2025, taking over from Pete Allchorne, partner at DAC Beachcroft.
Property payouts hit £4bn; RSA's latest launch; Konsileo's £8m fundraise
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
ABI’s Skeet leaving UK insurance for Bermudan tax
Mervyn Skeet, director of general insurance policy at the Association of British Insurers, is leaving the trade body to become CEO of the Bermuda Corporate Income Tax Agency.
Insurance CEOs most confident of net zero ability
Insurance CEOs were the most confident about meeting net zero targets by 2030 among the sectors surveyed by KMPG in its 2024 outlook.
Lord Chancellor criticised after ‘convoluted’ whiplash tariff increase
The Lord Chancellor and Secretary of State for Justice, Shabana Mahmood has today announced that she will increase the whiplash tariff by 15%.
DLG chief people officer Vicky Wallis to retire
Direct Line Group’s chief people officer, Vicky Wallis is to retire and be replaced in early 2025.
ABI’s Gurga urges regulators to slash red tape
Hannah Gurga, director general of the Association of British Insurers, has urged the government and regulators to grab Alexander the Great’s sword and slash through the Gordian knot of regulation.
Close Brothers to seek consent to pay premium finance commission
From next week, Close Brothers will seek consent from commercial customers for the payment of broker commissions for premium finance.
Allianz Commercial MD Nadia Côté departs
Insurance Post can reveal that managing director of Allianz Commercial Nadia Côté is leaving the insurer with immediate effect.
Beale urges insurance to prioritise climate action
Dame Inga Beale has said decarbonisation has to become a priority for the insurance industry.
CMA criticises Prima over £300K NCB breach
The Competition and Markets Authority has sent a letter to Prima because of a series of breaches relating to no claims bonus that affected more than 38,000 customers.