News
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.
Thingco and Freedom Services Group enter JV
Thingco has entered a joint venture with Freedom Services Group, to form Pukka Tech.
This week: A diamond in the grind
In just over a fortnight I will be leaving the world of insurance, after 42 months in the job and almost twelve hundred bylines under my belt. Here’s what I’ve learned.
Insurers confirm ‘ongoing commitment’ to work with inquiry on child abuse claims
Insurers have welcomed the “thoroughness” of a report published by the Independent Inquiry into Child Sexual Abuse and have committed to working with it on its recommendations.
Child abuse inquiry slams ‘hostile, baffling, frustrating and futile’ claims process as it pushes for insurer action
Setting up a register of public liability policies, revising damages and ensuring there is a claims code of practice are among a number of recommendations the Independent Inquiry into Child Sexual Abuse has made in a report published today.
Ecclesiastical UKGI MD John Blundell to retire
Ecclesiastical UK general insurance managing director John Blundell will retire from the role next year.
PE house swoops for Charles Taylor in £261m deal
Private equity firm Lovell Minnick Partners has made a £261m offer to buy Charles Taylor, with an aim to de-list it.
Brexit preparations slow as deadline draws near
Financial services firms have slowed down or paused their Brexit preparations, but "significant work" still remains over business transfers, EY has warned.
Saga reports surge in fixed priced policies as insurance margins shrink
Saga has warned of lower margins in insurance even as it saw a surge in its fixed price policy product, which was launched in the wake of backlash against industry dual pricing practices.
Lloyd's execs encouraged by more disciplined underwriting
Lloyd’s is beginning to see the green shoots of improved underwriting thanks to stringent business planning measures, executives have said following the market’s interim results.
Ageas and Ardonagh’s Uris extend deal with £200m contract
Ageas has signed a four year contract with Uris Group to provide cover for a number of specialist personal and commercial lines risks.