News
Wilson sees earnings slashed despite Aviva profit
Aviva CEO Mark Wilson has seen total earnings fall despite the company returning to profit this year, continuing a trend of ongoing executive pay cuts.
CBL-owned broker struggling to get approval in France
SFS France, which is owned by CBL, is having difficulties getting approval from Orias, the French association registering and approving brokers.
Grenfell insurer almost doubles premium following ‘unprecedented loss'
A Spanish insurer that covers leaseholder building insurance for the Royal Borough of Kensington and Chelsea will raise premiums by 86% as a result of the Grenfell fire.
RSA’s Hester takes home £5m package
RSA CEO Stephen Hester took home a £5m package from the business last year, despite the firm suffering losses last year in the UK.
Trump signs flood programme extension despite veto threat
The National Flood Insurance Programme would be extended to 31 July as part of a $1.3trn federal spending package signed by President Trump on Friday despite threatening to veto the bill earlier the same day.
UK is a few years away from direct cyber market: CIBA 2018
The cyber insurance market is evolving into a more digitally enabled one, which might help it open up to smaller customers where penetration is typically lower.
Seeking the ultimate 'flying Uber car' is unrealistic, Equipsme boss warns insurtech investors
Exclusive: Private equity providers need to have realistic expectations when investing in insurtech start-ups, because they are unlikely to find the next “flying Uber car”.
Cloud-based insurtech eyes up US MGA market following €2.2m funding round
Cloud-based insurtech platform Insly has raised €2.2m led by venture capital firms Concentric and Black Pearls.
Gable had 60,000 UK policyholders when it collapsed
More than 60,000 UK policyholders had business with Gable at the time of its collapse, and the UK guarantee scheme has to date paid almost £27m in compensation.
Over half of Lloyd’s MGAs have under resourced teams
The majority of Lloyd’s managing agents are struggling with a lack of resources in their delegated authority teams.
Marsh's White replaces Agnew as LIIBA chair
Roy White, chairman of UK specialties at Marsh, has been named as chair of the London and International Insurance Brokers’ Association.
This week in Post: Why insurers should head to a Maths Jam
This week I attended my first Maths Jam, a gathering of self-confessed maths enthusiasts who get together in a pub and share stuff they like.
Analysis: Passing up on passporting
What next after the UK ruled out maintaining passporting within the European Union?
Smart Driver Club in talks with insurers to increase capacity
Smart Driver Club will expand its capacity in order to grow premiums by 200% over the next two years.
Business interruption to fall under terrorism cover
Businesses disrupted by terrorist attacks will soon be able to claim under their insurance policy.
Lloyd’s positive on ILS cover for Central Fund
Capital from Insurance Linked Securities could be used to back the Lloyd’s Central Fund as early as next year, the market’s chief financial officer has said.
Hiscox's Masojada named PPL chair
Hiscox CEO Bronek Masojada has been named chair of the London market’s electronic placing platform, Placing Platform Limited.
Sabre delivers COR of 68.5% following IPO
Sabre made an underwriting profit of £59m in 2017, with a combined ratio of 68.5%.
Underlying performance needs to improve, says Lloyd’s CFO
The underlying underwriting performance of Lloyd’s syndicates needs to improve following the market's first loss in six years, John Parry has said.
Video: Insurers and claimant lawyers react to whiplash reform
Insurers welcome the whiplash compensation reform introduced in the Civil Liability Bill, while personal injury lawyers warn against its unintended consequences.
Gosden retires as Higos chairman two months into role
Ian Gosden is to retire as chairman of Higos two months into the role and step down from the business on Friday.
Lloyd’s confirms electronic placement mandate
Members of the Lloyd’s market must process 30% of risks electronically by the end of the year, following a mandate from the Lloyd’s Board and Council.
Zurich appoints former RSA boss Robinson as chief underwriting officer
Former RSA commercial boss Hayley Robinson has joined Zurich as chief underwriting officer.
Biba signs deal to gain post-Brexit EU access
UK brokers will be granted an introduction to European brokers in order to continue to write business across the Channel, under a deal announced by the British Insurance Brokers’ Association.