News
London company market premiums written in Europe on the rise
Gross premiums written in London by the company market increased 6.7% in 2018, reaching £19.56bn, according to the International Underwriting Association.
Millions unaware of post-Brexit green card requirement
UK motorists are unaware of the legal requirements to drive in the European Union if we leave Europe without a deal, warn insurers and brokers.
Gefion gets €6m capital injection at ‘crucial point in time’
Unrated Danish insurer Gefion has finally secured an additional €6m (£5.4m) capitalisation for the business following regulatory action in July.
Lloyd’s of London chairman joins insurtech Cuvva
UK-based insurtech startup Cuvva has appointed Bruce Carnegie-Brown as chairman, effective immediately.
Rising Star: Lucy Horrocks, Markel UK
Having joined Markel as an underwriting administration assistant as a law graduate in 2015, Lucy Horrocks has gone on to help get the insurer's award-winning prompt response team off the ground.
CFC's focus remains on organic growth following its first acquisition in 20 years
CFC Underwriting made its first acquisition in its 20 year history yesterday when it bought Solis Security, but the purchase will not mark a change in its acquisitive appetite, CFC chief innovation officer Graeme Newman told Post.
Insurers respond to Finsbury Park flood claims
Insurers have begun responding to claims after a burst pipe led to flooding in Finsbury Park.
CFC makes first acquisition in 20 years as it buys Solis Security
CFC Underwriting has bought Texas-based incident response provider Solis Security, marking the company’s first acquisition in 20 years.
David Christmas steps into head broker sales role at Fraser Edmond’s Broker Insights
David Christmas, former director at Bennett Christmas, has joined Broker Insights as head of broker sales and development.
Victory for insurers in $77m 'pirate attack' fraud case
A High Court judge has ruled that insurers do not need to cover the cost of an alleged pirate attack on an oil tanker because the ship’s owner was responsible for the incident.
Insurers warned on solvency and run-off as Gibraltar regulator airs 'reputational damage’ fears
Insurers in Gibraltar must be aware of their financial position "well before" a solvency breach occurs, the regulator warned as it revealed a clampdown.
Acquisitions eat into Seventeen Group's 2018 profits
Seventeen Group, which includes brokers James Hallam and MGA Touchstone Underwriting, saw its pre-tax profits dip by 36% to £812,716 in 2018.
Allianz and LV wrap up transfer of commercial business
Exclusive: The transfer of commercial and personal lines business between LV and Allianz has been completed, with the exception of a “small number” of schemes policies.
Tim Carroll to become chair of Ecclesiastical parent company
The former CEO of Swiss Re UK’s holding company, Tim Carroll will become chair of Ecclesiastical parent company Allchurches Trust at the end of the year.
Munich Re’s $250m investment makes Next the latest insurtech unicorn
US-based small business insurtech Next Insurance has raised $250m (£200m) from Munich Re in its series C round.
Aston Lark hires group chief technology and operating officer
Andrew Scola has become Aston Lark’s first group chief technology and operating officer.
Allianz UK CUO in bid to double data specialist roles over two years
Allianz is “investing heavily” in the data space and will seek to double the number of data specialist staff it employs over two years.
Analysis: How a dual pricing ban could be catastrophic for the industry
An outright ban on dual pricing could be “catastrophic” for the industry, analysts warned, pushing smaller players out of the market, limiting competition and raising premiums across the board.
FCA to act quickly in fixing dual pricing
The Financial Conduct Authority will not engage with the industry in “an extended dialogue for many months” to find alternative remedies to dual pricing, the regulator has warned.
This month: Celebrations, climate change and culture
In this month’s issue Post published the annual top 100 Insurers, a list of the UK's biggest insurers ranked by non-life gross premium written in 2018, in association with AM Best.
2019 Insurance Fraud Awards: Full list of winners
Zurich was the big winner at the 2019 Post Insurance Fraud Awards picking up three awards, and a highly commended including top prize in the Investigation of the Year category.
FCA mulls ban as six million customers hit with loyalty penalty
The Financial Conduct Authority has outlined a raft of potential interventions as it revealed six million policyholders are hit with a loyalty penalty.
European insurers paid out €2.9bn every day in 2018
European insurers paid out €1069bn (£953bn) in claims and benefits to insureds in 2018, according to figures gathered by Insurance Europe.
Senior women in insurance join equal pay campaign pushing for 'radical and rapid action'
Annette Court, Inga Beale and Tulsi Naidu are among high profile backers of a campaign fighting for equal pay for women.