News
LV GI profit halves from Beast from the East claims
LV’s general insurance business saw profits more than halve in H1 owing to claims from the Beast from the East.
Two ex-ERS underwriters fined for misconduct
Two former ERS underwriters, including one who described himself as a ‘non-standard motor guru’ have been fined for misconduct by Lloyd’s.
Allianz sets date for transfer of £250m LV commercial book
The transfer of commercial business from LV to Allianz will take place on 20 September, the company confirmed.
LMG names Lebecq as CEO
The London Market Group has named JLT Speciality operation director Clare Lebecq as CEO.
This month in Post: The great summer recess
It’s that time of year again. The trains are relatively empty, and out of office replies are basically a given.
Brit profit dives 87.5% at H1
Brit’s pre-tax profit nose-dived 87.5% in the first six months of 2018 on the back of poor investment returns.
Aviva: 'Millions of pounds' of personal lines business to go through Fast Trade this year
Aviva anticipates placing millions of pounds of personal lines business through Fast Trade by the end of the year, according to managing director of UK general insurance Rob Townend and managing director of intermediaries Phil Bayles.
Brendan McCafferty appointed Brightside CEO
Former Axa UK boss Brendan McCafferty has been appointed CEO of Brightside, starting on Monday.
Bayles: Aviva ‘bullish’ on brokers despite GRP rift
Aviva sees growth across every broker segment despite fall out with GRP, Aviva managing director for intermediaries Phil Bayles has confirmed.
Lemonade mulls dropping plagiarism lawsuit against rival Wefox
Following a meeting with Wefox founder Julian Teicke, Lemonade CEO Daniel Schreiber has pledged to drop a lawsuit against One Insurance and Wefox if the start-up redesigns some features.
April UK PMI exit deal puts brokers on edge
Exclusive: April UK’s private medical insurance exit has led to a flurry of insurer activity, but brokers have been left feeling frustrated and overlooked after Axa PPP struck a deal and customers were told they could contact the insurer directly.
Axa sees hit with loss of M&S contract
Axa UK and Ireland has seen personal lines revenue fall in its H1 results following the loss of the Marks & Spencer white label books to Aviva.
Aviva UK delivers, GI hit hard by weather claims
Despite weather claims that hit operating profit, Aviva’s UK general insurance arm has reported a combined operating ratio of 94.3% for the first half of 2018, a slight increase on 2017, when it was 93.2%.
Weather losses send RSA profits down 15% at H1
RSA posted a 15% drop in group operating profit for the first six months of the year as British and Canadian weather losses dent the insurers’ results.
Motor market ‘rational’ amid uncertain pricing and whiplash reform: Geddes
The motor insurance market has kept a ‘rational’ head amidst uncertain pricing and changing whiplash reform, Direct Line Group’s CEO Paul Geddes said.
Parametric insurtech Floodflash raises £1.9m
Internet of Things start-up Floodflash will aim to roll out in October, having raised £1.9m in a seed round.
Ardonagh linked with proposed Saga sale of Bennetts
Exclusive: Saga is looking to divest its interest in bike broker Bennetts, with Ardonagh touted as one of the potential suitors.
GRP-backed brokers Lonmar and Ropner to merge
Lloyd’s brokers Lonmar and Ropner will merge at the end of the month under the Lonmar brand.
Finch-owner triples size in UK market with ICB acquisition
ICB Group joins Finch as part of the Verlingue Group, effective from today.
DLG’s operating profit slides as insurer is hit with weather claims
Direct Line Group saw operating profit slide in the first half of 2018, as it was hit by weather-related claims.
Paul Geddes to step down from Direct Line
CEO Paul Geddes will be leaving Direct Line Group in the summer of 2019.
Interview: Jonathan Davidson, Financial Conduct Authority
Insurance has come under fire for the way it prices policies. Jonathan Davidson, director of retail at the Financial Conduct Authority, discusses the problem with Martin Croucher
Latest GRP broker will seek acquisitive growth
GRP has acquired a majority stake in DCJ Group Insurance and Risk Management, for an undisclosed sum.
Sabre to target insurtech distribution
Motor insurer Sabre is looking to add insurtech platforms to its distribution model.