News
Axis to buy Novae for £468m
Axis Capital has made an offer to buy Lloyd’s insurer Novae for £467.6m.
Elite ceases writing new business
Elite Insurance will cease writing new business with immediate effect.
Insurers must focus on cyber risk accumulation exposure: PRA
Insurers must get a grip on their cyber risk management to fully understand their cyber exposure, the industry watchdog has said.
Media watchdog bans 'misleading' Confused.com adverts
Confused.com has received a slap on the wrist from the Advertising Standards Authority for distributing ‘misleading’ motor insurance advertisement.
Strategy director and marketing manager leave UK General
Strategy and change director Nick Rawlings and marketing manager Ria Cusimano have left UK General.
Government will not intervene on rising motor premiums, City Minister confirms
The government will not intervene to curb rising motor insurance premiums, the City Minister has confirmed.
Motor insurance firms in Ireland raided over ‘anti-cartel’ EU rules
Motor insurance providers in Ireland have been raided by officials from the European competition watchdog.
Active Quote appoints Rob Saunders as managing director
Rob Saunders has been appointed as managing director of Active Quote, the online comparison service and broker for health and protection insurance.
Liberty picks Luxembourg for post-Brexit hub
Liberty Speciality Markets has selected Luxembourg for its post-Brexit headquarters.
Flood Re reports pre-tax profit of £130 million
Flood Re has reported a pre-tax profit of £130 million in its end of year results after backing 127,326 policies in its first year of operation.
Post journalists scoop a trio of gongs at Biba Awards 2017
Post journalists have been recognised for their outstanding work in three categories at the British Insurance Brokers' Association Awards 2017.
Three out of four concerned over insurer use of driverless car data
Three out of four motorists are concerned that insurers will use data from driverless cars to justify raising premiums.
MGAA takes action over members hit by Brexit disruption
The Managing General Agents' Association must take a leading role in supporting members through the challenges of Brexit, its chairman said.
Axa to cut 18 branches as Irish operation is scaled back
Axa will close 18 branches across Ireland and Northern Ireland, reportedly affecting more than 100 jobs.
Analysis: After Autofocus: Where next for the credit hire industry?
Last month, seven former employees of Autofocus were collectively given prison sentences of more than five years after being found guilty of doctoring hire rate evidence to defend insurers in court against credit hire companies in thousands of cases.
Wanna Cry fails to boost cyber insurance take up
The recent surge in ransomware virus attacks has seen little increase in enquiries for cyber insurance cover, survey findings suggest.
Hiscox’s Robert Childs appointed deputy chairman of Lloyd’s
Industry heavyweight Robert Childs, non-executive chairman of Hiscox, has been appointed deputy chairman of Lloyd’s.
Latitude Brokers opens Korea office
Latitude Brokers has opened an office in Korea, the third for the marine insurance specialist in Asia.
Compre launches Maltese insurance company
Compre is to establish an insurance company in the Republic of Malta.
Merged Aston Scott and Lark to target Chartered brokers for acquisition
The new broker created from the merger of Aston Scott and Lark will look to strengthen its offering through further acquisitions.
Chaucer acquires Australian Lloyd's coverholder
Chaucer has acquired Australian underwriter and Lloyd’s coverholder, SLE Worldwide Australia as part of its plan to expand.
Markerstudy injects capital to fix £109m solvency deficit
Markerstudy was forced to inject fresh cash into the business after falling short of its solvency requirement by £109m.
Analysis: The truth behind the broken system of dual pricing
The industry has faced sustained attacks in recent months for its ‘shameful’ practice of raising rates for loyal customers, with one newspaper calling for the government to ‘punish the insurance pirates’.
SSP launches broking platform
Broking software provider SSP has launched a replacement product for its Pure platform.