News
CJCA s57 fundamentally dishonest ruling sends 'strong message' to fraudsters
The first fundamentally dishonest ruling under section 57 of the Criminal Justice and Courts Act 2015 will act as a significant deterrent to potential fraudsters, according to the Association of British Insurers and law firm Horwich Farrelly.
Businesses urged to understand terrorism exposure as European risk rises
2015 was the most lethal year for terrorist violence in Europe in nearly a decade, according to research from Aon Risk Solutions, which also found one-third of all attacks in the western world since January 2015 targeted private citizens and public…
UK insurtech start-up Guevara to follow US P2P provider Lemonade and launch licensed insurer
One of the investors behind insurtech start-up Guevara has warned others they will need "a lot of patience” to bear fruit in the insurance market.
Fraudsters targeting insurance staff in ‘pubs, cafes and on social media’
Insurance employees are the latest target of criminals looking for sensitive customer data with fraudsters following staff from their workplaces and approaching them online, according to officers from the Insurance Fraud Enforcement Department.
London market insurers will struggle with investment returns in 2016
Investment income will remain a sticking point for London market insurers as reserves are hit by low rates in popular short-term investments, according to a report by Fitch Ratings.
Simply Business indicates growth appetite after Aquiline purchase
SME broker Simply Business is expecting a "suite of investments" following its purchase by Aquiline Capital Partners, as CEO Jason Stockwood said the two companies have a shared ambition.
NCI targets £1.2m GWP as it enters equine market
NCI aims to net £1.2m gross written premium in the first year from its first venture into equine cover.
Wunelli unveils ‘plug and play’ telematics device
Telematics provider Wunelli is launching a data collection device, cutting the cost of telematics by around 85% on current hardwired options.
Gallagher earmarks $800m facility for acquisitions
US-headquartered Arthur J Gallagher has entered into a five-year $800m (£561m) unsecured credit facility with a group of banks pegged for acquisitions.
Young insurers, broking attraction, terror cover and roaring motors
The best of Post the last week in case you missed it
RSA promotes Coughlan to head up UK personal lines
David Coughlan has been appointed managing director of RSA's UK personal lines business, overseeing the More Than brand, personal lines broker and affinity.
KGM retrieves costs after first fundamental dishonesty ruling under CJCA s57
KGM, the UK motor insurance subsidiary of Sompo Canopius, will be repaid £6100 in costs after the first ruling of fundamental dishonesty under section 57 of the Criminal Justice and Courts Act 2015.
Howden's Rootham to leave the business in June
Howden UK retail division boss Stuart Rootham is to leave the broker at the end of June.
#PostPeople 11-15 April 2016
All the latest insurance industry market moves between 11 and 15 April 2016.
Simply Business sold by Anacap to ERS-owner Aquiline
Private equity firm Anacap has sold SME broker Simply Business to Aquiline Capital Partners, generating a return of 4.5-times its original investment in 2013.
Former Canopius boss Rolfe joins Broker Network
Former Canopius UK Specialty CEO Tim Rolfe is to join Broker Network as chief product and underwriting officer on 1 May.
RSG launches cyber facility with £20m Lloyd's backing
Chicago-based RSG Underwriting Managers has launched a £20m cyber risk facility based in London.
Willis warns others as it settles JLT fine arts and specie team defection for £22m
International broker Willis Towers Watson today reaffirmed it is “committed to protecting its business” and “will always seek legal redress where appropriate”.
PRA appoints insurance director Sam Woods as CEO
The Prudential Regulation Authority's insurance executive director Sam Woods has been promoted to replace Andrew Bailey as PRA CEO.
Flood Re likely to be copied by other nations, ABI's Evans predicts
Flood Re is likely to be copied entirely or in part by other countries, according to Association of British Insurers director general Huw Evans.
Quiz of the week - 8 April
Test your knowledge of the week's insurance news with the Post insurance quiz of the week.
Hit-and-run interim report to be published in next few weeks
The Motor Insurers’ Bureau expects the University of Leicester to publish an interim report into hit-and-run motor accidents within the “next few weeks” as it aims to get a better understanding of the reasons why people leave the scene of a collision and…
Covéa Insurance hails ‘fantastic progress’ as COR and GWP improve
Covéa's UK insurance arm reported an improved gross written premium of £473m (2014: £445m) and combined operating ratio of 96.9% (2014: 97.8%) in its 2015 results.
Guest promoted at XL Catlin in Singapore
David Guest, XL Catlin's Asia-Pacific head of crisis management, has been promoted to country manager for the insurer's Singapore operations.