News
Brexit: Sompo International to set-up Luxembourg operation
Bermuda-based P&C (re)insurer Sompo International is planning to establish a European headquarters in Luxembourg.
Ecclesiastical urges Chancellor to make charities exempt from IPT
Ecclesiastical has backed the Charity Finance Group by urging the Chancellor, Philip Hammond, to make charities exempt from Insurance Premium Tax ahead of Wednesday’s budget announcement.
British travel infrastructure hampering business, QBE warns
British travel infrastructure ranks among the worst in Europe, a survey by QBE Business Insurance revealed.
Nat cats could cost MS&AD $972m
MS Amlin owner MS&AD Insurance Group could see losses of over $972m (£734m) as a result of second quarter nat cat losses including hurricanes Harvey, Irma and Maria as well as earthquakes in Mexico.
Ignition Select boss sees another company go into liquidation
Exclusive: The director of failed Ipswich broker Ignition Select has seen another of his companies placed into voluntary liquidation.
Insurtech firm raises further £6m with plans to expand internationally
On demand insurance provider Zego has raised £6m in funding from Balderton Capital, as it looks to double in size and increase its product offering.
Motor premiums to fall next year from Ogden and whiplash changes: EY
Motor premiums could fall in 2018 as an expected change in the Ogden rate could reverse some of the losses faced by insurers, EY said.
Insurance firms 'should lower premiums for Tesla cars'
Insurers should lower premiums for Tesla cars owing to increased safety features built into the vehicles, analysts said.
Guidewire 2017: Chatbots could aid in compliance and fraud fighting
Chatbots have the potential to help insurers meet regulatory demands as well as using machine learning to flagg up potentially fraudulent behaviour.
Muang Thai Insurance offers driving smartphone app
Thailand insurer Muang Thai Insurance has released an idrive motor smartphone app which uses UK insurtech start-up Inzura's app and cloud based platform.
Asia marine war syndicate launched in Hong Kong
Hong Kong-headquartered insurer Asia Insurance has become the lead underwriter for a marine war risk syndicate based in Hong Kong.
Digital and Insurtech Awards 2017: Winners
The industry’s tech gurus gathered this afternoon for Post’s annual Digital Insurance Awards. The winners are listed below:
Brokers withheld premiums from Enterprise MGA after insurer's collapse
Exclusive: Brokers withheld premiums from Enterprise’s failed managing general agent in the wake of the insurer’s collapse.
This week in Post: Anti-bullying, Amex and IPOs
As the mother of a nine-year-old son who is growing up in a digital world where his life might be played out on social media I was shocked to learn that Childline held over 12,000 counselling sessions with children who were concerned about an online…
Cage fighter's spurious claim knocked out of court
A champion cage fighter has been ordered to pay court costs back to Aviva after his whiplash claim was ruled to be fundamentally dishonest.
Underwriting Service Awards 2017: Winners
The leading lights of underwriting gathered last night at Post’s annual Underwriting Service Awards. The winners are below:
Lycetts appoints Charles Foster as CEO
Lycetts has appointed Charles Foster as CEO, subject to regulatory approval.
Andrew Fyfe announced as new Ifed chief
Detective chief inspector Andrew Fyfe has been appointed as the new head of the City of London’s Police’s Insurance Fraud Enforcement Department.
Amex winds up its travel insurance business
Exclusive: American Express has placed its travel insurance business into run-off, as part of a wider restructure of its insurance unit.
Charles Taylor opens Leeds office
Charles Taylor Adjusting has opened a new office in Leeds focusing on construction professional indemnity.
MP launches petition to freeze IPT rise
An MP has launched a petition urging the government not to raise the Insurance Premium Tax in next week’s budget.
Compre to acquire reinsurance portfolio from Allianz
Compre has agreed to acquire a portfolio of assumed non-life reinsurance business from Allianz for an undisclosed sum.
Perils provides Xavier loss estimate
Zurich-based nat cat data firm Perils has given its initial loss estimate for extra-tropical Cyclone Xavier which hit Germany on 5 October.
Axa commits €200m a year to innovation; will reduce head office costs by 25%
Speaking at an investor day Axa group CEO Thomas Burberl is looking to innovate to accumulate.