News
FCA publishes reformed approved person's regime for SII firms
The Financial Conduct Authority has today confirmed reforms to the approved person's regime for Solvency II firms including changes to governance arrangements and new conduct rules to encourage appropriate behaviour by staff.
Results round-up: H1 2015
Its results season again, and here at Post we have put together a single source of information to make finding the results from this half of 2015 a little easier.
Keighley pair jailed for £167,000 fraud scam
Two Keighley men who created insurance policies for people who did not exist and then submitted 300 false personal injury referrals worth £167,000 for made-up road accidents have both been jailed for four and a half years.
Dishonest motor insurance applications exceeded 4000 weekly in 2014
Insurers uncovered 212,000 attempted dishonest applications for motor insurance in 2014 - up 18% on 2013 and the equivalent to over 4000 every week, according to the Association of British Insurers.
Allianz buoyed by P&C growth in China, Indonesia and Malaysia
Allianz's Asia-Pacific property and casualty division saw gross written premiums increase to €869m (£619m) in the first half up 26% from €688m last year.
Target Group’s Larkin and Alley to become co-CEOs following reshuffle
Outsourcing and software provider Target Group has promoted Ian Larkin and Bill Alley to the role of co-group CEO and appointed Paddy Byrne to the role of chairman.
Telematics firm Scope Technologies expands in Thailand and Germany
German insurer HDI Gerling and Thai company Bangkok Insurance have agreed pay-as-you-drive deals with telematics provider Scope Technologies.
Carney must clarify 'scope' of senior managers' regime
Bank of England governor Mark Carney needs to clarify the way the new senior managers' insurance regime interacts with Solvency II, according to one law firm.
RSA to exit personal lines intermediated motor market in November
RSA has confirmed it is to withdraw fully from the personal lines broker motor market, ceasing to write new and renewal business from 1 November.
Miss England contestant and semi-pro footballer jailed for whiplash fraud
A former Miss England contestant and ex-semi-pro footballer has been jailed for two months alongside another woman after attempting to defraud Esure out of £3000 for a false whiplash claim.
Maciver ‘coaxed off golf course' to join Cullum at GRP
Towergate Partnership founding shareholder Kenny Maciver has joined Peter Cullum-backed Global Risk Partners to work on mergers and acquisitions.
Less than 10% of Taiwan's cars insured for storm damage
A director of Taiwan's Non-Life Insurance Association has said that more than 90% of car insurance policies in the country are not covered for storm damage.
Five Uber drivers arrested in Hong Kong
Five Uber taxi drivers were arrested in Hong Kong yesterday for driving unlicensed and without third party insurance.
Towergate and Hiscox capitalise on growing schemes market
The number of commercial lines affinity schemes is increasing, particularly among professional associations, as brokers and underwriters strive for growth and profitability in a tough market.
Disaster losses reach £23.7bn in H1 2015
Total economic losses from natural catastrophes and man-made disasters reached $37bn (£23.7bn) in the first half of 2015, according to Swiss Re.
EBA's European presence key as Nexus makes acquisitive swoop
Nexus Underwriting Management has acquired specialist managing general agent and Lloyd’s service provider EBA Insurance Services in a move to bolster its growth strategy via EBA’s European stronghold.
Tysers reaps benefits of broker restructure with uplift in profits
Tysers has seen the benefits of restructuring its broker divisions with a strong round of results, which included a 21.6% hike in pre-tax profits.
Australian storm contributed to Berkshire Hathaway Q2 underwriting loss
Berkshire Hathaway Reinsurance's profits fell to an underwriting loss in the second quarter after a storm in Australia cost it $115m in losses.
Howden boosts Midlands presence with Perkins Slade buy
Howden UK has agreed to buy Perkins Slade Forrest subject to shareholder and regulatory approval.
Unum spends £31.7m on National Dental Plan purchase
Unum has acquired workplace dental insurer National Dental Plan from Capita for £31.7m, pending regulatory approval.
Dye denies Allianz UK's reinsurance arrangement is for acquisition 'war chest'
Allianz UK's 12% drop in operating profit in the first half of 2015 was impacted by a quota share reinsurance arrangement agreed with sister company Allianz Re, according to CEO Jon Dye.
Shopping around pays as average home policy continues to fall
Policyholders who switch home insurance providers stand to gain "significant savings" as home premiums continue to fall, according to market research firm Consumer Intelligence.
Carney to unveil new rules for insurance managers this week
Bank of England governor Mark Carney will this week unveil new measures to make insurance managers individually accountable for the failure of their firms, after consulting on proposals earlier this year.
Wunelli hires ex-Axa personal lines distribution boss Cavanagh as VP
Former Axa personal lines intermediary distribution director Selim Cavanagh has been appointed to the role of vice president of telematics firm Wunelli by parent company Lexis Nexis.