News
Direct Choice closure hits Saga retail growth
Saga’s retail insurance policies grew by just 1% year on year for the four month period from 1 February 2018 to 31 May 2018, a trading statement released ahead of its annual general meeting shows.
Hiscox CEO casts doubt on UK ILS framework
Exclusive: Hiscox CEO Bronek Masojoda cast doubt on the UK regulator's ability to make good on its promise to create a flexible framework for ILS business in London.
Verisk acquires Validus IVC
Verisk has acquired automated subrogation platform provider Validus IVC to offer its customers automated claims processing.
Peter Winslow to step down as BGL chairman
After 23 years at BGL Group, Peter Winslow will be stepping down from his role as non-executive chairman.
Slow growth and competition forcing insurers to rethink acquisition strategy
Insurance executives are pursuing acquisitions and partnerships to grow their business, but the majority of insurers are having to rethink their acquisition strategies.
Former claims fraud investigator jailed for fraud
The former director of a firm used in the past by Ageas and ERS to investigate fraudulent claims, has himself been jailed for fraud.
Credit hire firm valued at £110m following market float
Credit hire firm Anexo Group raised £25m through an initial public offering, valuing the group at £110m.
Big Four audit firms censured for 'lack of scepticism'
The Big Four audit firms have seen a fall in quality in the past year owing to a “failure to challenge management”.
Axa and Allianz strike latest GRP broker deals
Axa has taken on the agency for the commercial combined and fleet business portfolios for GRP’s ‘south-eastern hub’ Green Insurance Group (Greens), while Allianz has made a bespoke agreement with GRP’s Sagar, McGrady’s and Abbey Bond Lovis to take on…
Grahame Chilton steps down as UK Gallagher CEO
Grahame ‘Chily’ Chilton will step down from his role as UK CEO at Gallagher, and will be replaced by Simon Matson.
RSA could face loss from £100m Glasgow School of Art blaze
Exclusive: RSA is unlikely to face the majority of the expected £100m losses from this weekend’s fire at Glasgow School of Art. However the company said it is calculating its own exposure.
LV splits up innovation team ahead of Allianz JV
LV has split up its innovation operations for general insurance and life and pensions into two separate dedicated teams, as a result of its joint venture with Allianz.
Carillion collapse causes ‘ripple effect’ of trade credit claims
The number of trade credit claims has increased by 50% owing to a “ripple effect” from the collapse of Carillion.
This week in Post: Bullying, Brexit and big predictions
This week in Post, the government said that it is considering plans to exclude cyclists and vulnerable road users from the proposed £5000 limit on fast track claims.
Claims firm We Go Look launches in UK
We Go Look, the US claims management firm dubbed the ‘Uber of inspections’, will launch in the UK.
FCA issues clone broker warning
The Financial Conduct Authority has issued a warning over a clone broker.
Lemonade to sue rival start-up over alleged plagiarism
Lemonade is suing its rival start-up One Insurance, over allegedly plagiarising aspects of the insurer's app.
Das v Asplin: Defence concludes for five co-accused
The remaining five defendants in the Das UK v Asplin trial did not take the stand, with lawyers instead reading character witnesses to the jury.
Government start-up visa will allow UK to attract more insurtech talent
The Home secretary announced yesterday that the UK government will be introducing a start-up visa for entrepreneurs wishing to set up their business in the UK.
Das v Asplin: Defence states its case in ongoing trial
Ex-CEO Asplin has pleaded not guilty to charges including conspiracy and fraud.
Cyclists could be excluded from rise in small claims limit
The government is considering plans to exclude cyclists and other vulnerable road users from the proposed £5000 limit on the small claims track.
Zurich develops app with tech giant and invests in DIG
Zurich has invested €15m, alongside Finch Capital, into Digital Insurance Group as well as developing an app with tech giant Apple to cater to its brokers.
Policy wording the ‘biggest complaint’ of cyber insurance buyers
Insurers’ cyber offerings have improved over the last five years, but consumers still struggle with the language and expressions used in policies.
RSA outlines plans to transfer commercial EU business to Luxembourg
RSA's UK business will transfer all of its passported business for commercial customers to its recently approved post-Brexit hub in Luxembourg.