News
Sedgwick restructures UK leadership team
Sedgwick UK deputy CEO Paul White has been promoted to lead the business, following the appointment of current CEO Stewart Steel as head of a combined Continental Europe, Middle East and Africa division.
Markel sells Brazilian subsidiary
Markel has sold its Brazilian subsidiary to its existing executive team following a strategic review.
IDD has not improved trust in insurance, brokers say
Three quarters of brokers do not believe that the Insurance Distribution Directive has helped drive trust in the industry, a survey has revealed.
MS Amlin to withdraw from nine lines of business
MS Amlin is to withdraw from nine lines of business that “no longer form part of its future strategic direction” as part of a wider restructure following an underwriting review.
Lloyd's releases 2020 modernisation plan
Lloyd’s has published the first blueprint for its market modernisation strategy, detailing how it will begin to deliver proposals it consulted on earlier this year in 2020.
‘Bad outcome’ as Ogden rate remains unchanged in Scotland
The Ogden rate will remain fixed at minus 0.75% in Scotland, raising the prospect of higher premiums for motorists north of the border.
Profit up at Arron Banks’ Eldon as losses deepen at insurer Southern Rock
Arron Banks-owned Eldon Insurance saw profit more than double in 2018, but losses at his insurer Southern Rock increased.
Motor premiums rise following Ogden rate decision
Motor premiums have risen by an average of 0.7% in the past three months, owing to changes to the Ogden discount rate.
Analysis: Reinsurance rates - breaking the cycle
Reinsurance rates have started to rise after a series of natural disasters in 2017 and 2018, but the increases are not being seen across the board.
LM Tom to be wound down ahead of Lloyd's future blueprint publication
The London Market Target Operating Model is to be wound down and its work to be continued as part of the Future at Lloyd’s market modernisation drive.
Typhoon Faxai insured losses could hit $9bn: RMS
Catastrophe modelling firm RMS has estimated that the insured losses from Typhoon Faxai in Japan will be in the range of $5bn to $9bn (£4.1bn to £7.3bn).
This week: Dive in and let it out
In the biggest news of the week the Supreme Court didn’t hold back when it ruled Prime Minister Boris Johnson’s advice to HM The Queen that parliament should be prorogued was unlawful.
Scor’s battle with activist investor rumbles on amid Covéa legal action
Activist investor CIAM has blasted Scor's strategy as "without significant intrinsic value creation" in a letter to the resinsurer's lead director, following reports in the French media on its collapsed merger talks with Covéa.
Frustration at Dive In ethnicity panel after c-suite execs drop out
Senior insurance executives scheduled to appear at a diversity event pulled out after discovering the session would be on the "sensitive" issue of the industry's Black, Asian and Minority Ethnic pay gap.
Markel appoints wholesale and national markets claims leaders
Markel International has promoted three of its claims leadership team, with a view to giving parts of the business more specialised management.
Aviva appoints Jason Windsor as CFO
Aviva have appointed Jason Windsor as chief financial officer and executive director with immediate effect.
LV opens University of Bristol campus data ethics office
LV general insurance CEO, Steve Treloar said it is “ever more important” to understand data ethics, as the insurer launches its university office in Bristol.
Aviva's Rob Townend to depart in leadership reshuffle
Rob Townend is leaving Aviva, amid leadership team changes that see the insurer scrap its UK managing director roles.
Neal emphasises the importance of speaking up about bullying and harassment
Lloyd’s CEO John Neal has underscored the importance of individuals speaking out about instances of bullying and harassment at a panel discussion on the first day of the Dive In festival.
Digital Fineprint closes $4m funding round, with insurtech Cuvva tipped to raise next
Digital Fineprint has become the latest UK-based insurtech to announce a significant fund raising round after unveiling a $4m (£3.2m) investment at Insurtech Connect in Las Vegas today.
Lloyd’s unveils further measures to tackle market culture amid ‘sobering’ survey
Lloyd’s has today revealed six additional measures it will take to improve culture at the market, after a survey labelled “sobering” by its chairman Bruce Carnegie-Brown.
Nearly one in ten workers saw sexual harassment at Lloyd’s over the last year
Lloyd’s CEO John Neal said he was “appalled” by Lloyd’s culture survey results, as the results show 8% of workers claim to have witnessed sexual harassment in the market in the last 12 months.
Government issues warning over use of AI in insurance pricing
The rise of artificial intelligence and big data could create a new class of ‘uninsurables’ in society, a government task force has warned.
Insurers respond following Thomas Cook collapse
Insurers have responded following the failure of Thomas Cook in the early hours of this morning, which has prompted the largest peacetime repatriation in British history.