News
Climate activists let off smoke bombs outside Lloyd’s
Climate activists gathered outside Lloyd’s of London in the run-up to today’s AGM, letting off smoke bombs and chanting “Stop Adani” as well as “Stop Eacop.”
Scor leaves NZIA and commits to Norwegian gas and oil exploration
Reinsurer Scor has become the latest founding member to leave the Net-Zero Insurance Alliance, CEO Thierry Leger announced at the company’s annual general meeting.
Many Pets exits Swedish market as problems pile up
Many Pets’ partnership with Great Lakes SE in Sweden has ended, and as a result, the provider is withdrawing from the Swedish pet insurance market, Insurance Post can reveal.
Climate activists hit Lloyd’s insurers ahead of AGM
Climate activists targeted Lloyd’s insurers backing fossil fuel projects around the world ahead of its annual general meeting later today, with more disruption planned.
Amazon Insurance Store adds first provider since initial launch
After launching with three insurers in October 2022, the Amazon Insurance Store has now added a fourth.
Steve Treloar to step down as LV CEO
Steve Treloar, chief executive of LV GI and Allianz Personal, is leaving the business at the end of June.
NFU Mutual catches fraudster who tried to claim £54K for gardening
An insurance fraudster who tried to claim £54,000 for 40 years’ worth of gardening was found fundamentally dishonest by a judge and added to the insurance fraud register.
Insurers slammed for ‘abandoning net zero targets’ to back Nordic gas and oil exploration
Greenpeace says insurers are prioritising “dirty profits” over the future of the planet as it names 69 insurers involved with a gas and oil exploration project in Norway.
Admiral enters connected car telematics market
Admiral has teamed up with car manufacturer Ford and telematics provider Redtail Telematics to produce one of the UK’s first connected telematics motor insurance products.
Consilium to build specialism division around new hire
Paul Richards, co-chief executive of broker Consilium, shared his plans to build a new cyber, tech and fintech division around Elmore Insurance Broker founder Tom Abbotts.
Swiss Re joins Net-Zero Insurance Alliance exodus
Swiss Re has joined Zurich, Hannover Re and Munich Re in turning its back on the Net-Zero Insurance Alliance.
AI could become the ‘wild west of tech’ if it is not used appropriately
Artificial intelligence could take on unexpected behaviours, leaving consumers being treated unfairly with vulnerable customers hit the hardest, industry leaders claim.
Cyber insurance market set to double in size
The global cyber insurance market is forecast to grow from $16.7bn (£13.4bn) in direct written premiums in 2022 to $33.4bn in 2027, according to Global Data.
Insurance’s richest figures revealed
Douw Steyn and family are the only famous faces from the world of insurance to make it into the top 100 of this year’s Sunday Times Rich List.
Experts say AI has potential to ‘unlock’ legacy systems
Artificial intelligence could finally solve longstanding industry legacy systems issues and insurers who don’t get on board will be missing out, experts claim.
Ecclesiastical boss aims to double size of business
Richard Coleman, managing director of Ecclesiastical, reveals how he plans to double the size of the insurer’s business in the next few years as part of the provider’s mission to “give more to good causes”.
Howden unifies business; Pikl partners with Confused; Gallagher sponsors the horses
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva looks to build new product lines
David Martin, managing director of UK GI distribution & SME at Aviva, revealed that the insurer is considering its fund allocation with the intention of building out new products.
Novidea reveals plans after securing further $50m in funding
Insurtech Novidea said it will use the Series C funding to further develop its insurance platform as digital transformation continues to be an “urgent pain point” for insurers.
Aviva sees uptick in brokers developing ESG plans
Over a quarter of brokers are implementing Net Zero plans, according to research from Aviva.
Insurers continue to grapple with rising costs for vehicle repairs
While property and motor claims’ post-Covid difficulties have begun to ease, the latter in particular are still presenting challenges to insurers, according to Zurich UK chief claims officer James Nicholson.
Liiba members relying on ‘flimsy model’ to operate in EU, says CEO
Chris Croft, CEO of the London and International Insurance Brokers Association, has said the model in which members operate in the EU is “very open to interpretation”.
CII professional standards director exits
Melissa Collett is exiting her role as executive director for professional standards at the Chartered Insurance Institute at the end of this month.
Zurich challenges itself to halve HNW quote times
As Zurich looks to invest further in the high net worth space, head of personal lines and specialties Phil Ost wants to challenge his HNW team to respond to brokers’ quotes within 24 hours