News
Hyperion valued at $5bn as former A-Plan owner HG invests days after sale
Private equity firm HG has invested in Howden-owner Hyperion in a deal that puts a $5bn (£3.9bn) enterprise value on the insurance group.
Ardonagh to sell Bennetts after CMA ruling
Ardonagh has offered to sell motorcycle specialist Bennetts to address the concerns of the Competition and Markets Authority and avoid a “long, burdensome and expensive phase two enquiry”.
Sign up now for Post's Future of Insurance Work event
There is now just a fortnight to go before Insurance Post holds its Future of Insurance Work event.
Refinancing costs bite as Ardonagh losses more than double and income drops
Ardonagh has reported a post-tax loss of £94.1m for the first six months of 2020 more than double the £41.8m deficit in the same period of last year.
FCA and seven insurers file 'precautionary' applications for Supreme Court BI test case appeal
The Financial Conduct Authority and seven out of the eight insurers involved in the regulator’s business interruption test case have filed applications to ‘leapfrog’ an appeal of the High Court judgment handed down earlier this month to the Supreme Court.
AIG’s Anthony Baldwin steps up as IIL president
Anthony Baldwin, CEO of AIG UK has been elected as president of the Insurance Institute of London for 2020 to 2021.
Government hits out at insurers over grant deductions from BI claims
John Glen MP, economic secretary to HM Treasury, has rebuked insurers deducting government grants from business interruption claims payments and warned of further action.
FCA defends predicted £1.06bn dual pricing compliance cost
The Financial Conduct Authority has estimated it will cost the insurance sector £1.06bn over 10 years to comply with its package of measures designed to tackle dual pricing in the general insurance market.
Tokyo Olympics a reminder of risk landscape beyond the pandemic, says WTW
The coronavirus pandemic has underscored the need for the organisers of events like the postponed Tokyo Olympics and risk managers in general to give serious consideration to every item in their risk registers, a research team at Willis Towers Watson has…
Clear buying Brokerbility a “huge step forward”, says CEO Lickens
Clear Group has bought Brokerbility Holdings including its broking, network and technology businesses for an undisclosed sum.
Bupa’s CS Healthcare takeover clears CMA hurdle
The Competition and Markets Authority has approved the proposed merger of Bupa Insurance and CS Healthcare with the pair hoping to complete the deal in January next year.
Analysis: Price comparison websites warned of shrinking demand after dual pricing ban
Next year’s dual pricing ban will force price comparison websites to adapt if they are to stay relevant, experts have warned.
Industry must look at risks beyond pandemic in tackling non-damage BI challenge
Work to create a vehicle for dealing with catastrophic and systemic risks in the wake of the coronavirus pandemic must take into account the full spectrum of risks capable of causing comparable levels of disruption, prominent industry figures said on…
Swiss Re reveals further group streamlining
Swiss Re has announced plans to reorganise the legal entity structure of its corporate solutions business unit.
Whatever Google is doing on scams it is not working, says FCA chair
Charles Randell, chair of the Financial Conduct Authority has criticised Google and other social media and technology firms over the continuing proliferation of scams.
Insurers urged to rewrite flexible working rules
Insurers have been urged to review flexible working policies and consult with staff to capitalise on positive changes to working practices during Covid-19 disruption.
Black Lives Matter conversations have been 'raw' and 'revelatory': Dive In panel
The momentum behind diversity and inclusion programmes changing society and the industry for the better continues to build but there remains much more to be done, according to experts at the industry’s Dive In festival.
Aviva’s Patrick Tiernan named IUA chair
Partick Tiernan, managing director UK commercial lines and global corporate and specialty at Aviva, has been elected chairman of the International Underwriting Association.
Motor Mouth Podcast 16: Maintaining road safety standards
Join Jonathan Swift, Insurance Post content director, and Jaime Hassall, team leader at Highways England, to discuss how road safety is adapting to the challenge of Covid-19, and the key priorities in maintain the UK’s high safety standards.
Virgin Atlantic dropped insurance broker due to alleged lack of hard market know-how
Virgin Atlantic switched its insurance broker three weeks before the renewal date of its directors and officers policy out of frustration with poor communication and a lack of faith in brokers’ ability to deal in a hard market, its head of risk said at a…
A-Plan buy cost 'approaching £700m', Howden confirms
Howden’s purchase of A-Plan for “approaching £700m” has created a business of scale that is a true “challenger broker”, according to David Howden, CEO of Hyperion Insurance Group.
Return to offices halted following government’s work from home guidance
Businesses have put their return to office plans on hold following the latest statement from the government asking people in England to work from home where possible.
Climate-related litigation could produce 'grey or black swan event'
Business may not be devoting enough attention to the financial risks associated with climate change-related litigation and business transformation, Axa XL spokespeople told risk managers on Wednesday.
Have your say on the FCA's BI Test case outcome
Last week the High Court found in favour of the Financial Conduct Authority on key issues in the business interruption test case. Post seeks to find out how the market feels about this.