News
Amazon entry into UK insurance not the threat it was expected to be: Guidewire's Ryu
Guidewire’s co-founder and chairman Marcus Ryu believes UK insurance companies are much more “sophisticated” and “better placed” than they were 30 years ago, and new entrants such as Amazon are not a threat they were once expected to be.
Analysis: Will firms be up to speed in time for the FCA’s new regulations on consumer duty and protection?
The Financial Conduct Authority’s new four-outcome consumer duty rules set higher and clearer standards of protection across financial services and requires firms to put their customers’ needs first. However, as Frances Stebbing discovers, the transition…
BI claims roll on as law firm builds new case against Allianz
Law firm Mishcon de Reya is appealing for Allianz policyholders to come forward and join a group action lawsuit against the insurer in a new Covid BI claims case.
CII appoints chief digital and information officer following data breach
Mathew Mallett has been named chief digital and information officer at the Chartered Insurance Institute.
Former COO Philippou exits FCA in a string of departures
Georgina Philippou, former chief operating officer at the Financial Conduct Authority, has left the regulator after three decades.
Matthew Wilson steps down as Brit group CEO
Matthew Wilson has stepped down as group CEO of Brit in order to prioritise his health and spend more time with his family.
Disruption from automotive OEM’s ‘wildly interesting’: Guidewire’s Mullen
Automotive original equipment manufacturers getting into insurance space is the “best example” of disruption because it “trials all the way through insurance lifecycle,” said John Mullen, president and chief revenue officer at Guidewire.
Not moving to the cloud ‘slightly illogical’, Guidewire conference hears
Guidewire CEO Mike Rosenbaum stresses commitment to move 100% of Guidewire customers to the cloud, as not doing so is “slightly illogical”.
Combined UK General and PPL business to pursue ‘substantial’ growth and acquisitions
The combined business formed by the bringing together of managing general agents UK General and Precision Partnership is to pursue “substantial” short-term growth, CEO Tim Smyth has told Post.
Acrisure acquires Sutton Winson and SSR; One Family to acquire Beagle Street and Many Pets expands to the US
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
FCA launches discussion on competition impacts of big tech firms entering insurance sector
The Financial Conduct Authority is seeking views on the competition benefits and harms from big tech firms’ entry into a range of retail financial services sectors.
Trade Voice: Apil’s John McQuater on why the law on bereavement damages is out of step with modern society
John McQuater, president of the Association of Personal Injury Lawyers, says the case for an overhaul of the law on bereavement damages has only grown stronger in recent years, and it needs to be updated to reflect today's modern society and family…
Direct Line Group creates two offices to enhance customer and commercial focus
Direct Line Group has revealed the establishment of a Chief Customer Office and Chief Commercial Office to lead the Group’s brand, customer and trading strategies.
Avian flu outbreak could hit insurers hard: McLarens' Smout
With avian influenza prevention zone declared across Great Britain, an agriculture loss adjuster warns claims could be costly for insurers.
UK 'veering off course' with ESG as public rank cost of living as their top concern
According to a report on environmental, social and corporate governance issues from communications consultancy SEC Newgate, the UK public rank the cost of living crisis as their primary concern.
MS Amlin Underwriting slapped with almost £10m fine for historic governance failings
The Prudential Regulation Authority has fined MS Amlin Underwriting £9.7m for failings in its governance, controls and risk management in the period between 1 September 2014 and 31 December 2019.
Aon launches Work Insights Programme to help provide students work experience opportunities
Aon strengthens efforts to support college students from lower socio-economic backgrounds with new career prospects with the launch of its Work Insights Programme.
Amazon partners with three insurers to launch home and contents ‘Insurance Store’
Amazon has partnered with Ageas, Co-op and LV to launch the Amazon Insurance Store, offering home and contents insurance to UK customers.
Allianz poaches mid-market boss from Aviva in further commercial reshuffle
Allianz Commercial has appointed Aviva’s David Carey into the newly created position of managing director of mid-market.
Mark Steward to step down from the FCA
The FCA’s executive director of enforcement and market oversight will leave the regulator in spring 2023 after seven years.
Judge hands insurers win in ‘far from conclusive’ Stonegate, Greggs and Various Eateries BI cases
Justice Butler, one of the two judges on the FCA test case last year, has handed insurers a win today when passing down judgment on the three cases relating to the Covid-19 business interruption losses of Stonegate, Greggs and Various Eateries.
Lloyd’s first CEO Ian Hay Davison passes away
Former CEO of Lloyd’s of London who took on a task of reforming scandal-ridden Lloyd’s of London in 1983 of its reputation, has passed away aged 91.
Insurtech unicorns Zego and Marshmallow reveal large losses
The holding companies of UK insurtech unicorns Zego and Marshmallow have both reported losses for the financial year ending on 31 December 2021.
Hemming to leave Aviva and be replaced with Dave Martin
Aviva's Gareth Hemming is to "pursue new opportunities outside of Aviva" at the end of the year.