News
LV approached by 'number of parties' over possible GI unit sale
LV has confirmed that it has been approached by a “number of parties” regarding possible strategic transactions relating to its general insurance operations.
Post People 15 - 19 May
The latest people moves in the insurance industry.
Plum Underwriting appoints Davies Group as claims partner
Plum Underwriting has appointed Davies Group as a claims partner across its e-traded household and let property business.
Slater and Gordon to make £600m claim against Watchstone
Slater and Gordon intends to make a £600m claim against Watchstone Group by the end of the month.
Claims Conference Hong Kong returns; Asia app launched
The fifth annual Claims Conference Hong Kong returns this week on 18 May at the Harbourview Renaissance.
Chinese firms targeted in global cyber attack
Over 29,000 firms in China and other countries in Asia-Pacific have become victims of the WannaCry global ransomware attack.
Week in Post: Bonsai trees, jelly beans and the thousand-yard stare
The majority of the Post team started the week as ‘virgins’ of the British Insurance Brokers’ Association annual conference. This morning, I see most of them have the same look in their bloodshot eyes. War veterans call it the thousand-yard stare.
Allianz in talks over acquisition of LV GI unit: Sky News
Allianz Group is reportedly in early talks for the purchase of LV’s general insurance division.
ABI calls for dual rate for personal injury payments in Ogden rethink
The Association of British Insurers has suggested changes to the way the personal injury discount rate is set, calling for a dual-rate system for calculating lump sum payments in personal injury claims.
Horwich Farrelly to focus on defendant insurance work after closure of claimant arm Zest Legal
Horwich Farrelly has unveiled plans to shut its claimant legal arm, with the 42 staff impacted expected to be redeployed elsewhere in the business.
#BibaFever: B-B-Q: What brokers and insurers want from the next government
Delegates at the British Insurance Brokers’ Association conference have asked the next government for some stability.
LMA calls for discount rate change
The Lloyd’s Market Association has called for major changes to the way the personal injury discount rate is set.
AIG plans to name Brian Duperreault as CEO: WSJ
AIG will reportedly name Brian Duperreault as CEO, with a formal with an announcement expected imminently.
Allianz UK reserves and profit take discount rate hit in Q1
Changes to the Ogden discount rate had a £58.3m impact on Allianz’s existing reserves and resulted in a £10m slump in profits during the first three months to March.
Allianz's global P&C profits fall 12.7% in Q1
Munich-headquartered insurer Allianz saw global property and casualty pre-tax profits decline 12.7% to €1.26bn (£1.01bn) in the first quarter of 2017.
Cameron: Cyber crime solution needs insurance industry input
The insurance industry and the UK government need to work together on cyber crime and travel risks, former Prime Minister David Cameron said in his keynote address to the British Insurance Brokers’ Association conference.
Axa to use Dragon’s Den labs to grow schemes book to £250m
Axa plans to grow its schemes business to £250m in premium as a result of a Dragon’s Den-style innovation lab.
#BibaFever: B-B-Q: Who would the insurance industry invite to the perfect summer BBQ and what would they serve them?
As the embers start to go out at another British Insurance Brokers’ Association Conference, the #BibaFever team sought the answer to the biggest BBQ question of them all.
#BibaFever: B-B-Q: Can brokers afford to ignore insurtech to remain relevant in the connected digital world?
As British Insurance Brokers’ Association Conference attendees wake up to a new day, the #BibaFever team went in search of finding out the big issues for the market.
Lemonade expands to California with backing from Ashton Kutcher
Insurtech poster child Lemonade has expanded into California, its third state, winning plaudits from celebrity backer Ashton Kutcher along the way.
Claims firm fined £400,000 for 100 million nuisance calls
A claims management company has been fined a record fine of £400,000 for making over 100 million nuisance calls.
Cbien secures €8m in second funding round
Digital asset manager CBien has raised €8m (£6.74m) from its existing shareholders MAIF, MACIF and 5M Ventures.
Websure expands into North America
Reinsurance software provider Websure has expanded into North America with the opening of a US operation.
Beazley posts 2% drop in gross written premium
Insurer Beazley has reported a 2% drop in gross premium written in the three months to the end of March 2017.