News
Parametric cover 'could go mainstream'
Parametrics, a specialised form of reinsurance or insurance used mainly in catastrophe bonds, could become more mainstream as risk managers seek to overcome some of the limitations of traditional insurance, according to a survey.
Commercial insurance must face up to tech challenges to stay relevant
The commercial insurance sector and its customers must face up to the realities of the fourth industrial revolution if it is to remain relevant in five and ten years’ time, Airmic CEO John Ludlow warned today.
Kendrick replaced by Furby in Chubb leadership reshuffle
Andrew Kendrick will be replaced by David Furby as head of UK and Europe.
Axa sells health broker to Ardonagh owners
Axa will sell its health broker, Health Insurance Group, to the private equity owners of Ardonagh.
Broker Right Choice receives £28m private equity investment
The private equity arm of Lloyds Bank has invested £28m for a minority shareholding in motor broker Right Choice.
Brightside claim against former CFO and auditor ‘moving toward resolution’
Exclusive: A legal dispute between Brightside and its former co-founder Paul Chase Gardener was outlined in court on Friday.
Insurance Supper Club founder Barbara Schönhofer awarded MBE
Barbara Schönhofer awarded MBE in Queen’s Birthday Honours List
Tokio Marine HCC buys Qdos business unit
A subsidiary of Tokio Marine HCC has bought the contractor business unit of Qdos Group for an undisclosed sum.
Quindell auditor slapped with £4.5m fine over misconduct
KPMG has been handed with a £4.5m fine as a result of its audit of controversial insurance services firm Quindell.
This month in Post: lessons learned, space travel and why every insurer wants a time machine
Following the collapse of Danish insurer Alpha hundreds of black cab drivers were left unable to work and without any insurance cover. With little communication from the insurer the drivers took matters into their own hands and besieged the offices of a…
Zurich takes minority stake in US SME insurtech
Zurich has invested in US start-up Cover Wallet, enabling it to provide small businesses with a platform to buy its insurance policies.
Smallest brokers pay five times higher proportion of earnings towards PI than largest firms
As a proportion of revenue, smaller insurance intermediary firms are still paying out far more for professional indemnity insurance than the largest firms, the Financial Conduct Authority’s latest data bulletin shows.
Penny Black's social world: June 2018
Mucky hacks, the Duchenne Dash and starring with stormtroopers
Charterhouse to acquire Ardian's Siaci Saint Honore group
Private investment firm Ardian has begun negotiations to sell the Siaci Saint Honore group to private equity player Charterhouse.
Insurance intermediaries saw revenue grow in 2017
The average revenue earned by insurance intermediaries increased in 2017, according to figures from the Financial Conduct Authority.
Terrorism business interruption Bill enters Parliament
A new Bill has been introduced to the House of Commons which would, if passed, enable Pool Re to extend business interruption cover to include losses that do not arise from physical damage to property.
Three loss adjusters join forces to tackle tougher market
Exclusive: Three independent loss adjusters will eventually merge under a single brand in order to better face off against a wave of consolidation in the market.
Amanda Blanc to become chair of ABI
Amanda Blanc, incoming Zurich Europe CEO, is to become the next chair of the Association of British Insurers.
Insurtech Laka expands to Asia following investment round
Crowd insurance start-up Laka has received £1.1m in seed funding as it prepares to launch in Asia and expand further in the UK.
Further M&A on the cards in AIG turnaround
AIG CEO Brian Duperreault has suggested that the insurer intends to make further acquisitions, following on from its purchase of insurance, reinsurance and asset management service provider Validus.
European insurance stocks took a nose dive after Amazon home insurance rumours
Stocks in European insurance firms took a nosedive today as traders reacted to a report which indicated that tech giant Amazon is looking to offer home insurance.
Over a million flock to FCA PPI website during £4.9m Arnie campaign
Almost 1.7m individuals have viewed the FCA’s PPI website since it debuted its Arnold Schwarzenegger-fronted advertising campaign.
RSA Luxembourg gets thumbs up from regulator
RSA’s Luxembourg insurance hub has been granted approval by the country’s regulator, the Commissariat aux Assurances.
German insurtech receives $30m funding led by Peter Thiel's VC firm
German start-up Coya has received further series A investment of $30m (£22.37m) led by Paypal co-founder Peter Thiel’s Valar Ventures.