News
Ageas UK eyes further restructuring to drive profit growth
Ageas will continue to restructure its business even as the company is set to return to an underwriting profit for the remainder of the year.
AA to inject up to £50m solvency capital into underwriter
AA Insurance is set to invest up to £50m into its underwriter in an attempt to accelerate growth.
Hamilton Syndicate reorganises underwriting team
Hamilton Underwriting, the managing agency of Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group, has reorganised its underwriting team.
Call Connection administrators attempting to recover money from former boss
Exclusive: The joint administrators of failed insurance lead generator Call Connection are attempting to recover money owed by its former boss and founder.
ICO expanding its workforce in time for post-GDPR breach reports
The Information Commissioner’s Office is in the process of adding to its team to deal with the expected influx of breach reports in the wake if the implementation of the General Data Protection Regulation.
FCA reveals surge in cyber attacks
The number of reported data hacking attacks against financial services companies has quadrupled in the last year, according to figures from the Financial Conduct Authority.
North Korea, Brexit and trade protectionism top 2018 political risks list
The North Korea missile crisis, Brexit negotiations, and trade protectionism are among the top political risks threatening multinational businesses in 2018, according to Marsh.
London P&I Club records growth after 1/1 renewals
The London P&I Club reported a boost in gross tonnage to 2.5m gt following January renewals.
Ageas shakes off Ogden impact to return to profit
Ageas UK has seen a return to profit after a year of being hammered by the residual impact of the Ogden rate change.
Interview: Mark Searles, AUB Group
Since packing up his life in London and flying half way across the world to Australia, Mark Searles, CEO of AUB Group, has transformed a broker into the leading equity-based broking, risk management, advice and solutions provider in Australasia.
Homelyfe launches partner platform for third party insurance distribution
Homelyfe has launched it Partner Platform to enable third party firms to take advantage of its insurance product lines and provide home insurance cover in less than four minutes.
Allianz UK CEO Dye declines to comment on XL acquisition rumours
Allianz UK CEO Jon Dye has declined to comment on recent speculation that the group is looking to acquire XL.
Allianz UK operating profit climbs by 26% in 2017
Allianz UK saw operating profit rise 26% to £121.3m in 2017, up from £96.2m in the previous year.
Seventeen Group acquires high-net-worth broker
Seventeen Group has acquired East Sussex-based Rupert Burgoyne Limited for an undisclosed sum.
Zurich begins new initiative aimed at partnering with 'innovators'
Zurich has launched a new initiative in order to enter partnership with innovative companies and embed technology into its business.
Buzzvault announces long-term growth plans following Munich Re tie-up
Exclusive: Buzzvault Insurance has entered a five year strategic partnership with Munich Re Digital Partners with plans of releasing products to market by Q3 2018.
FCA calls for industry input on regtech
The Financial Conduct Authority has called for input on the use of technology to ease regulatory reporting.
Irish regulator forces CBL Insurance Europe to close shop
The Central Bank of Ireland has ordered CBL Insurance Europe to cease writing business with immediate effect, until further notice.
Clear buys Robert Alexander and eyes further deals in 2018
Clear Insurance Management has bought New Malden-based broker Robert Alexander.
Slice to launch on demand products in Q2 following partnership with Legal & General
US on demand insurtech firm Slice has said that its on demand home sharing insurance products will be available by Q2 this year, following its partnership with Legal and General.
FCA signs agreement with US regulator to promote insurtech innovation
The Financial Conduct Authority has signed an arrangement with the US Commodity Futures Trading Commission to support each other’s insurtech initiatives, Lab CFTC and FCA Innovate.
Whiplash fraudster given two month prison sentence
A whiplash fraudster has been handed a two month prison sentence and been ordered to pay £14,000 in costs.
68% of homeowners think it’s acceptable to omit application information
Over half of UK homeowners believe it is acceptable to omit or adjust information in their application to keep their insurance premiums low, according to survey findings.
Insurers could face claims worth millions following British Steel Pensions Scheme transfers
Insurers could face millions of pounds worth of professional indemnity claims arising from negligent financial advice given to those transferring out of the British Steel Pensions Scheme last year.