News
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.
Auto renewals cost motorists £982m a year
UK motorists lose an estimated £982m a year by not shopping around on renewal.
FCA cracks down on misleading CMC ads
Claims management companies must raise their advertising standards to ensure they do not mislead customers, the Financial Conduct Authority has said.
Loss adjuster Graham High Group promotes Austin Snelgrove to MD role
Specialist loss adjuster The Graham High Group has announced that its managing director - who founded the business in January 1995 - is to step aside and become executive chairman.
Former Aon employee alleges sexism at the company left her with ‘mental health complications’
An ex Aon employee has hit out at the global risk and consulting giant, alleging that she faced sexist behaviour that led to “mental health complications” and made her feel she had to leave the company.
Deal struck to exempt Irish drivers in the UK from green cards after no-deal Brexit
Irish vehicles will not require green cards to drive in the UK in the event of a no-deal Brexit, following a deal struck between the Motor Insurance Bureau of Ireland the British Department for Transport.
Ardonagh reveals future plan for Swinton as all branches close
Ardonagh group has confirmed the closure of all Swinton branches as the integration of the business is almost complete.
Ardonagh posts loss of £44.5m for the first half of the year
Ardonagh Group has posted a loss of £44.5m for the first six months of 2019, an increase of £11.7m on the £32.8m loss reported for the same period last year.
PIB u-turns on pledge to keep childcare broker brand
PIB will now integrate childcare broker Albany Childcare into Morton Michel, despite pledging at the time of purchase it would keep the brand.
Questgates to provide mental health awareness training to its line managers
Questgates is rolling out mental health skills and awareness training for all its UK line managers.