News
Goldman Sachs' acquisition of Aston Lark completes
Goldman Sachs’ merchant banking division’s purchase of majority stake in Aston Lark has completed.
Ex-Complete Cover CEOs Allen and Beckett reunite for Markerstudy-backed MGA
The former CEO of Complete Cover Tony Allen has returned to the motor insurance market with a new Markerstudy-backed specialist managing general agent.
Insured losses from Hurricane Dorian estimated to top £20bn
Hurricane Dorian could inflict insured losses of up to $25bn (£20.7bn), according to analysts at UBS.
Crawford names Clive Nicholls successor
Crawford has appointed Lisa Bartlett as president for the UK & Ireland business, as Clive Nicholls steps down.
This week: Go Compare's car crash advert
Go Compare was criticised this week for an arguably tone-deaf advert in which its singing mascot was involved in a serious car accident.
Allianz increases fraud savings by 30%
Allianz has uncovered more than £29.6m worth of fraud in the first half of 2019, an increase of £6.9m compared to the same period last year.
Brightside vows further investment into MGA Kitsune
Brightside will further invest to grow its managing general agent Kitsune this year, as the number of wholesale brokers with agencies reached 13.
Gallagher warns cyber security is the 'soft underbelly' of UK SMEs
Crisis incidents cost UK SMEs a combined £8.8bn in 2018, with cyber-attacks, data breaches and cyber extortion incidents being most prevalent, research from Gallagher has found.
McCafferty welcomes ‘considerable improvement’ at Brightside despite £10.3m loss
Brightside made a loss before tax of £10.3m for the year ended December 2018, but CEO Brendan McCafferty expressed confidence the business was improving.
Insurance Museum team look to raise £3m for pop up site in Leadenhall
The team behind the proposed Insurance Museum in EC3 have received backing from the City of London Corporation, as it moves from feasibility study to raising funds to set up a temporary pop up site.
Watchstone files a £63m counterclaim against S&G
Watchstone has filed a counterclaim for damages of £63m against Slater & Gordon, following permission from the High Court.
GRP explores option of partial sale
A partial sale of Global Risk Partners could be on the sale, as the consolidator and its private equity backer explore their options.
Tesla Insurance launches for owners
Electric car maker Tesla has launched its own insurance offering for drivers of its vehicles in California, with plans to expand to more US states in future.
Rideshare insurtech Inshur reaches $9.6m total investment
Rideshare insurtech Inshur has raised an additional $1.5m (£1.2m) from Viola Fintech for its Series A funding round, taking total investment in the startup to date to $9.6m.
RSA raises £350m but ‘not for a specific transaction’
RSA is raising £350m through a senior notes offering, which it intends to use for “general corporate purposes”.
Gefion still ‘in the process’ of arranging a capital injection
Exclusive: Gefion still remains “in the process” of recapitalising, more than six weeks after the Danish regulator ordered it to hold off on expanding into new territories until its finances are back on track.
Das UK returns to profitability
Legal expenses insurer Das UK returned to profitability last year, recording a combined ratio below 100% for the first time since 2014.
Insurers face rising application fraud
The industry saw 1300 insurance scams every day last year at an average cost of £12,000 each, according to numbers released by the Association of British Insurers.
Kin Insurance raises $47m
Kin Insurance has raised $47m (£38m) to launch as an insurer.
Goldman Sachs/Aston Lark deal to close ‘on Monday’
Goldman Sachs’ merchant banking division’s purchase of a majority stake in Aston Lark is expected to close on Monday.
Aston Lark buys first Manchester broker
Aston Lark has bought Manchester-based commercial lines broker Buckland Harvester.
‘Phantom fraudster’ handed a four month suspended sentence
A man has been handed a suspended sentence after making a fraudulent claim against Cardiff Council in road traffic accident case, despite dropping his initial claim.
Aggregator disruptor Honcho launches
Reverse auction market place Honcho has launched its motor insurance bidding app.
NFU Mutual appoints non executive director
NFU Mutual has appointed David Roper as non executive director, effective from 1 September 2019.