News
Ageas grows UK business by 21%
Ageas Group has this morning announced its UK business grew 21% compared with the year before.
Hiscox hits 2024 UK growth target
The growth of Hiscox’s UK retail business gathered momentum over the course of 2024, finishing the year just within the insurer’s 5% to 15% target range, according to its results announcement.
FCA CEO promises fewer large-scale changes for insurers
Nikhil Rathi, CEO of the Financial Conduct Authority, has promised to reduce unnecessary regulatory burdens and support growth of the insurance sector, with less large-scale rule changes in the next five years.
Aviva expects mid-2025 completion on DLG deal
As Aviva announces a 57% increase in operating profit for UK & Ireland general insurance, it has given a rough timeline of when it expects to complete the Direct Line Group deal.
Marshberry reveals the top 20 European insurance brokers
Over a quarter of Europe’s largest 20 brokers are UK domiciled with one of those businesses, Howden the second fastest growing intermediary on the continent, according to the latest European Insurance Distribution market report from Marshberry.
Admiral holds climate course as Trump takes office
Admiral Group chief sustainability officer Michelle Leavesley has doubled down on the insurer’s intentions to achieve its transition targets, despite the likely climate rollback in the US due to President Donald Trump coming into office in January 2025.
NormanMax set to acquire FloodFlash
Floodflash has agreed terms to be acquired by US parametric firm NormanMax, subject to FCA approval.
Zurich warns Labour’s £1.6bn pothole pledge won’t make a dent
Zurich Municipal has warned the extra £1.6bn Labour pledged to tackle potholes falls far short of the £15.6bn needed to repair the local road network.
Settlement reached in Covid event cancellation dispute
A $90m (£71.2m) reinsurance dispute involving several Lloyd’s syndicates over losses incurred by Covid-enforced event cancellations in the US and UK during 2020 and 2021 has been settled.
ABI appoints Phoenix’s Briggs as president
Andy Briggs, CEO of Phoenix Group, pictured, has been named as president for the Association of British Insurers for the next two years, replacing Zurich's Tim Bailey.
CII launches executive MBA in Islamic Insurance
The Chartered Insurance Institute and University of Greater Manchester have launched an Executive MBA in Islamic Insurance and Risk Management.
NatWest strikes embedded finance deal with AA
From the end of next month, The AA will offer NatWest Boxed’s instant access savings account to their roadside recovery customers.
Lyons returns to UK as Gallagher specialty CEO
Gallagher has appointed Sarah Lyons as CEO of its London-based specialty division, succeeding Jonathan Turner, who is leaving the post after five years.
QBE achieves almost 20% uptick in UK revenue
QBE saw the revenue it received for insuring UK risks increase by 19.6% in 2024, according to the group’s annual report.
Court’s judgment will have far-reaching corporate insurance ramifications
The Court of Appeal has handed down its latest judgment in relation to Covid-related business interruption insurance claims, with some of its findings likely to have significant ramifications for commercial lines insurance more broadly.
Thatcham and Elixirr partner; Lockton’s facility; Cowbell joins ABI
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Direct Line dissolves internal incubator as part of cost saving
Direct Line Group has dissolved its ecosystems team, the part of the business that specialises in delivering new products for the group, Insurance Post has learned.
Prestige chosen as a ‘preferred partner’ for Ardonagh Advisory
Prestige Underwriting is partnering with with Ardonagh Advisory on non-standard insurance products, Insurance Post can reveal.
UK pet insurance shifts from sales to process focus
August Von Sydow, chief commercial officer at pet claims automation insurtech Wisentic has said the UK pet insurance market has shifted from being sales-focused to process-focused due to increased adoption.
Motor insurance taskforce ‘still alive’ but ‘needs CPR’
Sources have told Insurance Post that the government's motor insurance taskforce has lost momentum and is “in need of CPR”, but is still alive.
Zurich UK sees 57% jump in P&C profitability for 2024
Zurich UK has this morning revealed it improved its property and casualty profitability in 2024 by 57% compared to the year before, from just a 4% increase in gross written premiums.
Insurers favour internal talent for cyber team growth
Insurance companies are looking to double their cyber teams but are primarily focused on internal hiring, according to Cyber Insurance Academy CEO and co-founder Guy Simkin.
‘Coordinated action’ required to bring premiums down, says ABI
The director general of the Association of British Insurers, Hannah Gurga, has told Insurance Post that collaboration between the industry and government can offer ‘practical solutions’ to industry issues.
Nigel Walsh reveals next move following Google exit
Nigel Walsh, who revealed he was stepping down as Google Cloud’s global head of insurance, has announced his next move.