News
Insurers back calls to end abuse of customer service workers
Insurers and the Institute of the Customer Service are calling for tougher legislation to stop people abusing staff in customer-facing roles.
Insurers warn of supply chain issues heightening the impact of windstorms
Insurers have reported a spike in claims following storms Arwen and Barra with fears remaining that remediation work could be significantly delayed due to building material and labour shortages.
SaaS provider Genasys secures £12m investment from Frog Capital
Insurance software-as-a-service provider Genasys has secured a £12.25m investment from Frog Capital, which will see it grow its operations around the world.
CII reinstates historic funding model for local institutes
The Chartered Insurance Institute is returning to its historic model for local institute funding for 2022 having reduced grants overall this year in a process it said previously had been designed to help manage resources during the pandemic.
Pub chain's £845m BI claim set to be heard by Commercial Court in June
An £845m lawsuit brought by pub chain Stonegate against insurers MS Amlin, Liberty Mutual and Zurich is to be heard by the Commercial Court next June.
Jensten reveals £36m cost for four deals in 2021 financial year
Jensten Group has posted a £13.57m post-tax loss for the year ended 31 March 2021 as turnover rose 24% to £21.44m.
Mike Crane replaces Steve Maddock as MIB chairman
The Motor Insurers Bureau has named the managing director of LV Broker and CEO of Legal & General general insurance Mike Crane as its next chairman, succeeding Direct Line Group’s chief operating officer Steve Maddock.
AIG takes Graham Fulcher from Chubb as international GI chief actuary
American International Group has recruited Graham Fulcher for the newly created role of international general insurance chief actuary.
Paul Cooper to return to Hiscox as group CFO
Hiscox has named Paul Cooper as group chief financial officer joining from asset manager and life insurer M&G where he is currently interim group CFO.
Vox Pop: Regulation 20 years on from the FSA coming to power – part two
The Financial Services Authority came into force on 1 December 2001. In this anniversary month, in the second of a two-part vox-pop series, Post asks compliance experts for their thoughts on topics including the accountability of the Financial Conduct…
Broker Insights targets UK growth and entering US market after £6m raise
Insurtech Broker Insights has raised more than £6m in a Series A funding round led by Mercia investing from its Northern Venture Capital Trust funds.
Lloyd’s architect Richard Rogers passes away
Richard Rogers, the architect of Lloyd's Lime Street headquarters, has passed away.
Vox Pop: Regulation 20 years on from the FSA coming to power – part one
The Financial Services Authority came into force on 1 December 2001. In this anniversary month, in the first of a two-part vox-pop series, Post asks compliance experts for their thoughts on how seismic a change the launch was and the current scope of…
Abbeyautoline owner Prestige creates broker Stroll as it invests £3m in digital
Prestige Insurance Holdings is investing over £3m and creating 60 jobs in Northern Ireland as it launches digitally-led broking brand Stroll next year.
European insurance industry able to meet customers promises even under extreme one in 1000 year events
A Solvency II stress test conducted by the European Insurance and Occupational Pensions Authority confirms the European insurance industry’s ability to meet promises to customers even under extreme one in 1000-year events.
SRG adds Joe Hanly as CFO
Specialist Risk Group has appointed Joe Hanly as group chief financial officer replacing Charlie Love who is leaving to pursue other opportunities having been with the business since October 2018.
Swiss Re reports nat cat losses fourth worst since 1970; Davies buys BVS; Leak Bot to go public after reverse takeover; and Ryanair teams up with insurtech
Post wraps up the major insurance deals, launches and investments of the week
January renewals going down to the wire amid 'Mexican standoff', says Catlin
A “Mexican standoff” between brokers and reinsurers ahead of the busy 1.1 reinsurance renewals means the industry is facing a “monumental” workload before the end of the year, Convex CEO and chairman Stephen Catlin has said.
Aon hires UK commercial risk chief broking officer from WTW
Aon has named Angela James chief broking officer for its UK commercial risk division, joining from Willis Towers Watson.
Kenny Hogg leaves Gallagher
Kenny Hogg, regional managing director for Scotland at Gallagher, has left the business, the broker has confirmed.
SRG launches MX Underwriting MGA with £100m target for 2022
Specialist Risk Group has unveiled managing general agent MX Underwriting bringing together GB Underwriting, CLS Risk Solutions and Blackrock Insurance Solutions with Lime Insurance.
AIG appoints global head of strategy and ESG
AIG has appointed Constance Hunter as executive vice president and head of strategy and ESG.
Ardonagh valued at $7.5bn as Abu Dhabi Investment Authority joins investor roster
The Ardonagh Group has secured investment from the Abu Dhabi Investment Authority and “several other large global institutions”, giving the group a multi-billion dollar valuation.
Interview: Andrew Wallin, Ardonagh Specialty
Ardonagh buying the insurance operations of BGC Partners was a “rocket fuel moment” for both organisations with opportunities abounding after the deal which doubled the size of the specialty business, according to Ardonagh Specialty CEO Andrew Wallin.