News
Aviva completes €130m Friends First acquisition
Aviva Ireland has completed the acquisition of life insurer Friends First for €130m (£116m) after receiving regulatory approval from the Central Bank of Ireland.
Home insurtech Luko gets €2m funding round led by French telecom boss
AI-powered home insurtech firm Luko has raised €2m (£1.75m) in a funding round led by French telecom billionaire Xaviert Niel.
Beazley’s specialty lines split a positive move, say analysts
Beazley is to split its specialty lines business from cyber and related lines, in a move welcomed by insurance analysts.
Wrisk raises £500,000 in latest crowdfunding venture
Insurtech start-up Wrisk has raised over £500,000 in two days of second round funding on equity crowdfunding platform Seedrs.
Claims bosses face £500,000 fines under ‘phoenix’ company crackdown
Nuisance call bosses could personally face fines of up to £500,000 under plans to tackle ‘phoenix’ claims management companies.
Castel targets European growth with Dutch office launch
Castel Underwriting Agencies has opened its first branch office in Amsterdam to support plans to expand its operations in Europe.
Allianz takes 8% stake in Africa Re
Allianz is to take an 8% stake in Africa’s leading reinsurer Africa Re.
Berkshire becomes third-largest reinsurer on back of AIG deal
Warren Buffett’s Berkshire Hathaway became the world's third-largest reinsurer in 2017, ending European dominance over the top four.
QBE Brussels subsidiary granted regulatory approval
QBE Europe has received approval from the National Bank of Belgium to set up a subsidiary in Brussels.
Aviva rejects one in eight whiplash claims
Aviva now rejects one in eight whiplash claims as suspect or fraudulent, the company said, as it revealed a 5.6% growth in fraud last year.
IFED discovers £165,000 worth of 'opportunistic fraud' in nationwide crackdown
The Insurance Fraud Enforcement Department has launched a ‘crackdown’ of opportunistic fraud within personal injury and property claims.
Insurers slam EU motor proposals incorporating Vnuk ruling
The UK insurance sector has criticised proposed changes to the Motor Insurance Directive, following the Vnuk ruling as being “unworkable and unfair”.
Aviva ends agency with GRP
Aviva has ended its relationship with Global Risk Partners following its split from two other GRP brokers.
Rising star: Claire Tyler, Allianz
Claire Tyler cut her teeth in insurance during the management trainee graduate programme at Enterprise Rent-A-Car. From there, she entered the Allianz claims graduate scheme and worked her way up to become a senior claims handler
Industry slams Tesla’s ‘misleading’ autopilot feature
The insurance sector has called out Tesla for its “misleading” autopilot feature, with industry voices criticising the motor manufacture’s language as confusing for customers.
Electric, not autonomous vehicles keeping underwriters up at night
The impending presence of electric vehicles on UK roads is keeping underwriters awake at night, a conference has heard.
Uber to provide free insurance to drivers in Europe
Uber will provide free insurance to eligible drivers and couriers in Europe following a tie-up with Axa.
Uniqa's Andreas Brandstetter named president of Insurance Europe
Andreas Brandstetter, the CEO and chairman of Austria’s Uniqa Insurance Group, has been elected president of Insurance Europe, the European insurance and reinsurance federation, for a term of three years.
Zurich provides numeracy training to Birmingham pupils
Zurich is partnering with Holly Lodge High School in Smethwick, near Birmingham, to deliver financial literacy training.
Ardonagh MGA division to exit loss-making personal lines
Ardonagh’s underwriting division will exit unprofitable parts of its personal lines book after it reported a £5.2m loss in the first quarter 2018.
Avantia places up to 30 roles at risk in outsourcing move
Exclusive: Avantia Insurance is in the process of relocating frontline roles to Sheffield, placing between 20 to 30 jobs at risk.
RSA backtracks over no bonus for UK staff
Exclusive: RSA has backtracked over a decision to not award bonuses to UK staff, after employees claimed it was unfair that group CEO Stephen Hester received a bonus of almost £5m.
Lloyd's Brussels gets regulatory green light, Vandendael named CEO
Lloyd’s has received regulatory approval from the National Bank of Belgium for its Brussels subsidiary.
Aviva's Townend replaces Blanc as IFB chair
The Insurance Fraud Bureau has apointed Aviva’s managing director of UK General Insurance replacing former Axa UK CEO Amanda Blanc.