News
Neon goes into run-off
Neon Underwriting has been put into run-off by owner American Financial Group.
Bought By Many eyes Series C round early this year
Pet insurance insurtech Bought By Many has engaged with a number of larger funds as it edges towards a Series C fundraising round in the coming months, CEO Steven Mendel told Post.
Bollington buys Ashgrove
Bollington Insurance has bought North-West based broker Ashgrove Insurance Services for an undisclosed sum.
Pool Re broadens SME business interruption coverage
Pool Re has expanded its definition of SMEs to include firms with assets up to £5m, increasing the number eligible for its business interruption cover at no extra cost.
Australian insurers face bushfire season losses of £228m
Insurance losses resulting from months of deadly bushfires in Australia are estimated to be A$431m (£228m), according to the Insurance Council of Australia.
Aston Lark names Ireland CEO
Aston Lark has appointed a CEO and chief financial officer for Ireland, following its expansion into the country.
Government bolsters fund for flood-hit farmers by £2m
The government has added £2m to a fund to help farmers who suffered "uninsurable" damage during last year’s floods.
GRP's 2019 acquisition spend revealed
Loss-making GRP, which posted its third consecutive loss last month, acquired ten businesses last year for a total cost of £68.8m.
Be Wiser promotes Sharon Beckett to CEO with Bower-Dyke as chairman
Sharon Beckett has been promoted to CEO of Be Wiser, with Mark Bower-Dyke ending his dual role at the broker and remaining as chairman.
Amanda Blanc joins Laka
Former Zurich EMEA CEO and Axa UK and Ireland CEO Amanda Blanc has joined insurtech Laka, Post can reveal.
This month: FCA fines, climate change and shaping company culture
This month marks the start of a new decade. And while a new year might bring optimism for the insurance sector it can also bring with it a host of challenges.
Enough capital in 'asymmetrical' reinsurance market: Guy Carpenter
There was adequate capacity to meet rising demand in the reinsurance sector during the 1 January 2020 renewal period, according to Guy Carpenter, however the results for buyers were mixed depending on a range of factors.
Optio buys Newbridge Risk Partners
Managing general agent Optio has bought specialist political-violence and terrorism MGA Newbridge Risk Partners for an undisclosed sum.
Sure Thing cut losses to £2m in year before sale
Motor broker Sure Thing Insurance Services made a loss of £2.1m in its final year ahead of the sale to Qmetric Group’s Policy Expert last June.
IUA establishes a market group on climate change as part of its business plan
The International Underwriting Association is establishing a new market group to examine the growing impact of climate change policies on a range of insurance activities, including investment, underwriting and risk management, as part of its business…
FCA fines total £392m in 2019
The Financial Conduct Authority levelled £392.3m of fines last year including one in the general insurance sector and its first against a claims management company.
Mike Crane takes new role as Allianz completes purchase of LV GI and L&G
Allianz has completed the purchase of LV general insurance group and the general insurance division of Legal & General, with Mike Crane to head up L&G GI.
UK motor reinsurance rates rise by up to 35%, says Willis Re
UK motor liability reinsurance rates for some accounts rose by up to 35% in the annual January renewal season, according to Willis Re.
Government flood review should focus on improving under-insurance as insurers will resist floodplain extensions
Insurers will support the government's investigation into insufficient insurance cover in the recent Yorkshire floods but will resist any attempts to widen Flood Re to cover recent floodplain developments, the Association of British Insurers has said.
Former Sabre chairman and BDML founder Keith Morris made OBE in New Year Honours List
Former Sabre chairman Keith Morris has been made an Officer of the Order of the British Empire in the New Year Honours List.
GRP remains fully focused on 'growth through acquisition' as it reports a loss before tax of £17.9m
In its report and accounts for the financial year ended 31 March 2019, broking group GRP reported a 48% increase in turnover to £112.1m (2017/2018: £75.9m), a rise in operating profit £27.8m (2017-18: £10.2m), and the equivalent EBITDA from the group’s…
Environment Secretary opens review into insurance cover after recent Yorkshire floods
The government is set to investigate the extent to which those affected by the recent flooding in Yorkshire did not have sufficient insurance cover.
Diversity and Inclusion in Insurance Award winner: Co-op Insurance
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we speak to strategic human resources business partner and Inspire working group chair Lisa Hooley, about Co-op Insurance winning the Diversity…
Diversity and Inclusion in Insurance Award winner: Emerald Life's Heidi McCormack
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we feature the D&III Leader Award winner Emerald Life CEO and founder Heidi McCormack