News
CBL creditors owed in excess of £90m
Creditors of CBL Corporation, the parent company of CBL Insurance, are expected to be owed in excess of £90m.
Lamp enters liquidation following court hearing
Insolvent unrated insurer Lamp has been placed into liquidation following a court hearing today.
Allianz to integrate L&G into LV
Allianz will transfer Legal & General’s general insurance business to LV once it completes its takeover at the end of the year.
This week in Post: Big fish, little fish, cardboard box?
It might be the name, but this week I’ve spotted some similarities between Gibraltarian unrated insurer-facing-liquidation Lamp Insurance and an angler fish, sparking some strange and slippery debate in the office.
Allianz buys L&G general insurance business for £242m
Allianz has agreed to buy Legal & General’s general insurance business for a base price of £242m plus potential further payments over three years.
LV GI valued at £1bn following Allianz takeover deal
Allianz has bought the remaining 30.1% stake in LV General Insurance for £365m.
MGA looks to relocate 13,500 customers following Lamp collapse
Exclusive: Now 4 Cover is looking to relocate policies of 13,500 of its customers, following Lamp’s descent into insolvency.
Home insurance premiums drop despite higher claims
Average home insurance premiums have dropped 1.2% in the past year to £134, despite a rise in subsidence claims, according to the latest report.
Inshur partners with Uber for driver policies
Inshur, mobile-first provider of commercial motor insurance for private hire drivers, has partnered with Uber to reward drivers for safe driving.
FSCS to pay out £6.9m to taxi drivers insured by collapsed Alpha
The Financial Services Compensation Scheme is the process of paying out £6.9m in premium refunds to 9000 taxi drivers that were covered by collapsed unrated Danish insurer Alpha.
Zurich appoints UK commercial lines head
Zurich has appointed Robert Kuchinski as its UK head of commercial insurance.
Motor claims rise calls into doubt impact of whiplash reform
The number of motor claims has risen by 10,000, which lawyers say is a sign there has been little impact from whiplash reforms.
Esure's Peter Wood leads £2.5m funding round for sharing economy insurtech
Esure and Direct Line founder Sir Peter Wood has led a £2.5m seed funding round for sharing economy insurtech Pikl.
Insurers issue warning as keyless motor theft soars
The number of motor theft claims paid out by insurers in Q1 of this year was the highest since 2012, leading insurers to call for action from motor manufacturers.
Law firms fear closures and redundancies from Civil Liability Act
More than a third of law firms have already shed staff in the run up to the implementation of the Civil Liability Act, and the majority believe the reforms could decimate the personal injury sector.
PRA insurance boss takes role at FRC
The Prudential Regulatory Authority has appointed Anna Sweeney as interim director for insurance supervision.
This week: All change
It’s all change for the country this morning as Prime Minister Theresa May confirmed she would step down from office after failing to unite MPs on the way the UK should leave the European Union.
Dewsall-owned MGA Hogarth enters liquidation
Hogarth Underwriting is to be wound up and its creditors stand to lose money, according to the final administration report.
Eldon appoints chairman and NED
Arron Banks’ broker Eldon has appointed Link chair Mark Boleat as its chairman, while Martyn Holman joins the broker as a non-executive director.
Generali boss named vice-president of Insurance Europe
Generali general manager Frédéric de Courtois has been appointed vice-president of Insurance Europe and will serve a three-year term in the role.
Keoghs expands into Northern Ireland
Keoghs has joined forces with Belfast-based law firm Caldwell Warner to expand its business into Northern Ireland.
Swinton left with only 20 branches after latest closures
Swinton closed 24 of its high street branches in the first quarter of the year, bringing the total number of branch cuts over the past year to 58.
Ex-Allianz and Axa pair launch 'open source' insurtech
Jon Britton, from Allianz Partners and Stephen Hartshorne, formerly at Axa, have launched an insurtech that draws upon open source data.
BGL launches short-term motor brand Jaunt
BGL Group has launched a new short-term car insurance brand that will allow customers to insure their vehicles for as little as one hour.