News
GRP-backed Alan & Thomas makes first deal
Alan & Thomas has acquired Commercial and General Insurance, its first acquisition since being bought by GRP less than two weeks ago.
Sabre aims to raise £213m through IPO next month
Motor insurer Sabre has confirmed its plans for an initial public offering next month, bringing to a close months of speculation.
China to increase life insurers' foreign ownership cap
The Chinese government has announced its intention to lift foreign ownership limits on domestic life insurers.
Peak Re approved by Monetary Authority of Singapore
Hong Kong-headquartered reinsurer Peak Re has been approved to write life and general insurance in Singapore.
80% of EU countries expect increased claims under GDPR
80% of EU jurisdictions expect compensation claims for data protection breaches to increase under the General Data Protection Regulation.
FCA broker probe ‘could benefit London insurers’
An official investigation into the wholesale insurance broker market could cut rising costs for London market insurers, Fitch Ratings said.
Allianz hit by €529m Q3 nat cat bill
Allianz has been hit with €529m (£468.1m) in losses from natural catastrophes, the company reported in its Q3 results.
Zhong An posts third consecutive quarterly loss
Chinese internet only insurer Zhong An has posted its third consecutive quarterly loss in 2017.
‘Strike deal to halt Brexit exodus from City,’ government warned
The government must secure an urgent transition deal for financial services to halt an exodus from the City, a senior peer has warned.
Nugent Santé partners with mental health specialists
Preston-based health insurance specialist Nugent Santé has partnered with mental health and safety specialists Mente Health.
Ex-Jelf boss Worrell replaces Deakin at Towergate-owner Ardonagh
Rob Worrell will replace Janice Deakin as CEO of insurance broking at Towergate-owner Ardonagh.
Amazon on a recruitment drive as it takes aim at UK insurance market
Internet-sales giant Amazon is currently recruiting insurance professionals in a bid to disrupt the insurance market in countries throughout Europe.
Generali Q3 profits tumble 9.9% on Dutch sale loss
Generali posted a 9.9% drop in nine-month profits due to a loss on the sale of its Dutch business
Zurich sees P&C decline in EMEA
Zurich’s non-life premiums fell by 7% in EMEA over the past year.
PRA outlines supervisory framework for ILS
The Prudential Regulation Authority has published final rules setting out how it will authorise and supervise insurance special purpose vehicles, which will be used to issue insurance linked securities in the UK.
Munich Re posts €1.4bn Q3 loss as nat cats weigh on results
Munich Re has posted a €1.4bn (£1.2bn) loss for the third quarter as the impact of natural catastrophes in the US and Caribbean take their toll on results.
Bollington Wilson Group set for acquisitions in 2018
Bollington are set to make several acquisitions in the next 18 months following the group’s merger with Wilsons.
New add-ons provider aims to dispel 'Mickey Mouse' image, says founder Paul Muir
The founder of One Answer Network and One Answer Insurance is poised to roll out a new business that aims to remove the “Mickey Mouse” stigma of add-ons. With another lead generation start-up waiting in the wings.
Ageas UK sees profit again hammered by Ogden
Ageas UK saw its pre-tax profit fall by 56% as it said it still had €5m (£3.8m) to pay in relation to the Ogden rate change.
FCA launches wholesale broker sector market study
The Financial Conduct Authority has launched a market study “to assess how competition is working” in the wholesale insurance broker sector.
Esure reports strong growth despite drop in home policies
Esure has seen a 25.4% increase in gross written premiums over the past year, rising to £625.8m from £499m in Q3 2016.
ABI releases video urging no further IPT rises
The Association of British Insurers has launched a video urging the Chancellor not to increase Insurance Premium Tax in the November budget.
Asia Capital Re calls off sale
Singapore-based reinsurer Asia Capital Re has called off its sale to Chinese investors.
Yeung swaps Japan for China in Willis Towers Watson role
Evariste Yeung has left insurer AIG in Japan to become a consultant for Willis Towers Watson.