News
Road Haulage Association launches insurance for members with Aviva, Griffiths & Armour
The Road Haulage Association has launched FR8, an insurance service for its member organisations.
Insurtech firm Trov raises £17.5m as it gears up to launch in the UK and Australia
Technology giant Guidewire and Australian insurer Suncorp are among the parties involved in the latest fund-raising from US insurance disruptor Trov, as it gears up to launch its on-demand cover for single items in the UK with Axa.
Insurtech investment rises threefold to £1.57bn
Investments in insurance technology businesses more than tripled last year, according to research by Accenture.
JLT expects £34m in ‘total exceptional costs’ for 2016
Global (re)insurance broker Jardine Lloyd Thompson anticipates £34m in “total exceptional costs” for 2016, but remains on target to achieve its objectives for the coming year.
Insurers face a 46% increase in cost of compensation claims
Insurers will pay 46% more in compensation to consumers this year, as part of the Financial Services Compensation Scheme.
JLT appoints Bruce Carnegie-Brown to board
JLT has appointed former Aon UK chair and Marsh UK and EMEA CEO Bruce Carnegie-Brown to its board as a non-executive director.
CMCs could be hit as crackdown continues on nuisance calls
Direct marketing firms will have to display phone numbers from May under new regulation, with the aim to cut down unsolicited nuisance calls from groups including claims management companies.
Insurers ‘most at risk from credit shocks’
Insurers could lose up to 17% of their own funds if there was a credit shock, according to results of a wide-ranging stress test of the market.
Compass in talks with Gallagher for MBO
Broker network Compass is in active discussions with its parent company, Arthur J Gallagher, for a management buyout of the business to create a wholly independent network.
Union 'strongly oppose' proposed changes to RSA redundancy pay
Union bosses have hit out against proposed changes to redundancy terms for long-term staff at RSA.
Bexhill UK launches peer-to-peer lending platform in premium finance market
The peer-to-peer lending trend has hit the premium finance market with Bexhill UK launching the Orchard Lending Club.
R&Q to dispose of more businesses in 2016, focuses on cost-management
Randall and Quilter will look to dispose of more businesses this year as part of a simplification of the firm’s business model.
Virtual reality offering on trial for telematics-backed claims
Telematics firm Scope Technologies will offer a 4D recreation of accidents using telematics data, a move it says would cut claims times.
Aubert to head up London Market Group
Willis Towers Watson’s boss in Great Britain Nicolas Aubert will succeed Steve Hearn, CEO of Cooper Gay Swett & Crawford, as London Market Group’s chair.
Admiral boss Engelhardt and ex-Saga De Haan brothers top rich list for insurers
The Sunday Times' Rich List has placed departing Admiral CEO Henry Engelhardt at 164 in its annual rankings, equal to BGL founder Douw Steyn but behind the De Haan brothers, Sir Roger and Peter.
Asta appoints new CRO and CIO
Asta has named Clare Barley and Matthew Lane as its new chief risk officer and chief information officer, respectively.
Euler Hermes to cancel trade credit cover for Tata Steel firms in UK
Allianz-owned Euler Hermes will end its trade credit insurance cover for all Tata’s UK steel firms this week, Post understands.
#postpeople 25 - 29 April 2016
All the latest insurance industry market moves between 25 and 29 April 2016.
R&Q jumps to profit following strong legacy acquisitions contribution
Randall & Quilter reported a rise in pre-tax profit to £2.8m in 2015, from a loss of £1.6m the previous year.
Chinese regulator warns on purchasing insurance in Hong Kong
The Chinese Insurance Regulatory Commission has warned Chinese citizens about buying insurance in Hong Kong.
Ex-Rugby player appointed head of ProSports
An ex-Rugby player has been appointed head of a professional sports insurer.
Covent Bridge in talks to make trio of acquisitions
Investigation firm Covent Bridge Group is in discussions to make three acquisitions as it looks to expand its UK and European footprint.
Drones and Vnuk in the news; David Marock interviewed
Important news and exclusive content from Insurance Post over the past week
Traditional reinsurance capital down $13bn, offset by non-traditional sources
Reinsurance capital fell 3.5% or $13bn (£9bn) in 2015 within traditional sources but non-traditional sources saw continued growth, up $70bn according to the latest Reinsurance Market Report from Willis Re.