News
Two thirds of former Kwik Fit staff find new jobs
Two out of three workers affected by the Kwik Fit Uddingston site closure have found new jobs, according to a Scottish government study.
Insurtech start-ups graduate from Accenture incubator
A series of insurtech start-ups have completed the Accenture Innovation Lab programme and are set to begin their seed funding rounds.
Aviva Asia creates Asia regional CEO role
Aviva Asia has appointed the regional executive for Indonesia and Vietnam Randy Lianggara as regional CEO for China, Indonesia and Vietnam.
ICA extends Cyclone Debbie catastrophe declaration to New South Wales
The Insurance Council of Australia has expanded its catastrophe declaration associated with Cyclone Debbie and its aftermath beyond Queensland to northern New South Wales.
Defective products are leading liability loss, says Allianz
Commercial insurer Allianz Global Corporate & Specialty has identified defective products and work as the leading global liability loss by studying the total value of claims over a five year period.
Brussels move will affect fewer than 100 staff at Lloyd's
Lloyd’s of London anticipates fewer than 100 staff will be needed to operate its European post-Brexit subsidiary, chief financial officer John Parry said.
Half of insurtech investment is in artificial intelligence and IoT
Investment into insurtech increased by more than 50% globally to nearly £15m last year, with the majority of deals involving artificial intelligence, a report found.
Insurers to be hit with transparency rules from this weekend
Insurers will be forced from this weekend to conform to tough transparency rules over policy renewals.
Truss launches Ogden rate consultation
Elizabeth Truss, Secretary of State for Justice, has launched a six-week consultation on the discount rate.
Lloyd’s sees underwriting hit following £2.1bn major losses
Lloyd’s has seen underwriting profits slip on the back of major claims of £2.1bn last year.
Lloyd’s confirms Brussels as post-Brexit destination
Lloyd’s has confirmed it will be setting up a new European business in Brussels following the government’s decision to invoke Article 50.
Peak Re's profit hit by 88% in 2016
Hong Kong-headquartered reinsurer Peak Re saw pre-tax profits fall 88% last year to $6.9m (£5.5m) compared with $59.2m in 2015.
AIG warns on rise in Asia-Pacific nat cat travel claims
Research from AIG Singapore suggests that high-impact incidents such as extreme weather events, virus outbreaks and socio-political volatility are the top emerging risks for Asia-Pacific travellers in 2017.
Donna Willis replaces Tim Yorke as ERS COO
Donna Willis has been promoted to the role of chief operations officer at ERS as Tim Yorke departs from the company at the end of March.
Biba calls for EU free trade agreement as Article 50 is invoked
The British Insurance Brokers’ Association has called on Prime Minister Theresa May to make "urgent progress" in setting up a new free trade agreement with the European Union now that Article 50 has been invoked.
Live: Industry reacts as government triggers Brexit
Check out Post's live blog on industry reactions as the government invokes Article 50.
Ireland urged to ‘draw lessons’ from Lloyd’s Brussels decision
Ireland’s trade body for insurance said lessons need to be learned from Lloyd’s decision to pass up on Dublin as its European subsidiary.
Criminal gang sentenced after five year investigation carried out by IFED
A criminal gang have been sentenced for their involvement in sophisticated fraud following an investigation carried out by the Insurance Fraud Enforcement Department.
Sompo closes Endurance deal, launches International unit
Sompo Holdings has completed its $6.3bn acquisition of Endurance Specialty, and will integrate the Bermudian carrier through a new unit, Sompo International.
Connected garage among topics of IBIS 2017
The collision repair market and the connected garage are among the topics that will be discussed by the International Bodyshop Industry Symposium at its global summit 2017 taking place in June in Madrid.
Lloyd’s body recommends Brussels as EU destination
The Lloyd's Franchise Board has recommended that the market chooses Brussels as the location of its post-Brexit subsidiary, Post understands.
PRA plans fee for Solvency II internal model approval
The Prudential Regulation Authority has announced a proposal to introduce a fee for Solvency II full and partial internal model approvals.
AA profits hit by greater aggregator spend
AA saw profits dip by 2.6% last year due to a higher marketing spend on aggregator sites.
Global insured disaster losses hit $54bn in 2016: Swiss Re
Natural catastrophes and man-made disasters in 2016 resulted in insured losses of $54bn (£43bn), an increase of 46%, according to Swiss Re's latest Sigma study.