News
Palestine Action targets Aviva in Manchester
Palestine Action has targeted Aviva’s Manchester office in its third consecutive day of action against insurers over links to weapons manufacturer Elbit Systems.
Zweibrucker confirms job cuts amid Axa Retail transformation
Alain Zweibrucker, CEO of Axa Retail has told Insurance Post that a ‘simplification’ of Axa’s business processes in 2024 resulted in job losses.
Pool Re opens consultation on SME terrorism cover
Pool Re has launched a consultation on the potential to reintegrate terrorism as a standard covered peril in SME policies.
New business drives Lloyd’s growth in 2024
Lloyd’s has trailed its 2024 results, revealing that gross written premiums across the market hit £55.5bn by the end of last year.
Direct Line shareholders approve Aviva takeover
Direct Line Group shareholders have today (10 March) approved the £3.7bn takeover from Aviva.
RSA’s Norgrove reveals ‘acquisition is on the radar’
Ken Norgrove, CEO of RSA UK and Ireland, has shared that while he mainly aims to grow the business in the UK and Ireland organically, he is also always on the hunt for consolidation opportunities.
Ola Jacob leaves Descartes for Global Parametrics
Ola Jacob has left Descartes Underwriting to become London Market business development director at Global Parametrics.
Ghost brokers ordered to pay back £376,000
A court has granted confiscation orders against two men who were convicted for their roles in a ‘ghost broking’ motor insurance scheme.
Allianz seeking legal action after two days of Palestine protests
After two days of protests from Palestine Action, a spokesperson from Allianz UK has confirmed the insurer will be seeking legal action.
Storm Éowyn losses pegged at ‘moderate’ £520m
Perils has this morning (10 March) disclosed its initial industry loss estimate for Storm Éowyn, which affected the Republic of Ireland, Northern Ireland and the Central Belt of Scotland from 24 to 25 January.
Court of Appeal overturns judgment in favour of insurer
The Court of Appeal has overturned a lower court judgment in favour of insurers, providing a clarification on the how the courts will interpret the Insurance Act (2015).
Mapfre Re x CyberCube; Specialist Risk Group buys broker; Hiscox’s chief auditor
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Career Returners programme could reduce Markel gender pay gap
Markel’s Career Returners programme could aid in reducing its gender pay gap, according to head of diversity and inclusion Julie Humphreys.
CII to overhaul qualifications
The Chartered Insurance Institute intends to ditch three-hour examinations and overhaul all 115 units, plus around 50 qualifications in the next couple of years.
Aviva creates dedicated commercial combined underwriting team
Aviva has put together 16 of its most experienced underwriters in a dedicated commercial combined underwriting team as it looks to give brokers the confidence to place larger, more complex risks online.
FSCS hires Martyn Beauchamp as CEO
The Prudential Regulation Authority and Financial Conduct Authority have appointed Martyn Beauchamp as CEO of the Financial Services Compensation Scheme.
Acorn’s CEO seeks fresh finance for growth plans
Mike Lloyd, CEO of the Acorn Group, has responded to rumours the non-standard motor and home insurer is up for sale, and confirmed he is seeking finance to grow the business.
Admiral chiefs share thoughts on Aviva/DLG deal
Admiral’s CEO and CFO have said they are keeping a “close eye” on how Aviva’s acquisition of Direct Line Group develops, but insist the business will not be making any reactionary changes.
Admiral almost doubles profit as UK customer numbers surge
Admiral Group has this morning (6 March) revealed it grew it's pre-tax profit by 90% in 2024 compared with 2023, while UK insurance customers grew by a fifth.
Storm-related claims surge in Q4 2024
Verisk’s latest property report for UK claims has revealed a 62% surge in storm-related claims in Q4 2024 compared to the third quarter.
Cyber insurance ‘may become mandatory’ in the future
Johnty Mongan, head of cyber risk management at Gallagher, has said that it is his belief that cyber insurance may eventually be a mandatory purchase.
Beazley CEO says ‘it’s getting more difficult to grow’
Beazley has reported record pre-tax profits of $1.42bn (£1.12bn) for 2024, but is forecasting a slowdown in growth this year as market conditions turn.
Accenture acquires Altus Consulting
US management consultancy firm Accenture has acquired Altus Consulting from digital solutions provider Equisoft, for undisclosed terms.
Hannah Kate Smith leaves Lloyd’s for Guy Carpenter
Former Lloyd’s of London operations and engagement director Hannah Kate Smith joined Guy Carpenter last month as international head of distribution and market relations.