News
Enter the European Insurance Technology Awards now
The deadline for The European Insurance Technology Awards is fast approaching.
Furness appointed as Motor Repair Network MD
Former Covéa Insurance boss Adrian Furness has been appointed as managing director of Motor Repair Network.
Greenpeace targets reinsurers at Monte Carlo Rendez-Vous
Protesters have disrupted the annual reinsurance meeting in Monte Carlo, pleading with the sector to stop coverage for deforestation and oil exploration in Congo.
Four ways Generation Z can climb the insurance career ladder
"F**k being humble", "turn off your notifications", and "know your goals" were just three of the suggestions given to hundreds of members of Generation Z who attended iCan’s Elevate conference on Friday.
Direct Line launches motor ownership app to build customer engagement
Insurance Post can reveal that Direct Line Group is looking to increase engagement with motor customers by bringing services it provides to motor owners into one space with the launch of Caha!
Cyber security is top insurance concern as global attacks increase
As global cyber attacks increased by 38% in 2022 compared with 2021, the potential theft of sensitive data, as well as phishing and ransomware attacks, has been cited as the greatest global threat to the insurance sector.
Poor quality data remains the biggest challenge for insurance data scientists
Insurers have been urged to review their data practices and ensure data is coming from “official or trusted” sources, as research suggests nearly half of data scientists are left stuck with untrustworthy data.
Fraudulent four jailed over 'crash for cash' claims
Four fraudsters have each landed themselves a sixth month jail sentence after taking part in a ‘crash for cash’ scam.
FCA set to squeeze the insurance industry to ‘prove worth’
The Financial Conduct Authority is set to squeeze the insurance industry over the next 18 months, to prove to the next government it is a watchdog worth keeping.
Gallagher expands SME & PL ops; SRG launches sports and media division; RSA appoints commercial CUO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Protestors urge insurers and reinsurers to block insurance for Republic of Congo oil extraction
Companies which are granted exploration and exploitation rights in the Democratic Republic of Congo oil auction could find they are without financial protection.
Former CII director Collett named Insurtech UK CEO
Former Chartered Insurance Institute professional standards director Melissa Collett has been hired by Insurtech UK to take the helm of the trade body.
FT’s Barrett says insurance must fix its image problem
Claer Barrett, consumer editor of the Financial Times, has told insurers to up their social media game in order to change perceptions of the sector’s products and services.
Neal predicts consolidation as Lloyd’s delivers £3.9bn H1 pre-tax profit
Lloyd’s CEO John Neal has said the market’s underwriting performance is “as good as we’ve seen in recent decades”, as it reported a £3.9bn profit before tax for the first half of 2023.
Direct Line woes continue into 2023 with £78m H1 loss
Direct Line Group has reported an operating loss of £78.1m for the first six months of 2023, compared with a profit of £197m for the same period in 2022.
Beazley achieves record H1 profit for second year in a row
Beazley has posted a small uptick in first-half pre-tax profits to a record $366m (£292.8m), boosted by its US property and European cyber businesses.
RSA CEO reveals plans for commercial lines after DLG deal
As RSA’s £530m purchase of Direct Line’s brokered commercial lines operations made the insurer the third-biggest player in this space, Ken Norgrove, CEO of RSA, revealed his plans to make further in-roads with the market's brokers.
RSA buys DLG’s commercial lines business for £520m
It was announced last night that RSA and Direct Line had struck a deal that both businesses claim will boost their bottom lines.
Marsh appoints Nick Harris as CEO of UK retail
Marsh has hired Nick Harris as CEO of UK Retail, effective from 1 January 2024, subject to regulatory approval.
Preparation is key as insurers look to avoid repeat of 2022’s storm costs
As the Met Office publishes its annual list of storm names for the upcoming storm season, insurers are looking to avoid a repeat of the financial hit the weather brought in 2022.
Treasury's IPT receipts surpass £7bn
The Treasury collected a record £7.34bn in insurance premium tax receipts during the 2022/23 financial year, analysis by actuarial consultancy OAC has revealed.
S&P predicts cyber reinsurance rates to increase
S&P Global expects cyber reinsurance rates to increase as reinsurers look to return to profitability, but predicts primary underwriters won’t pass the rate increase on to customers.
Details of Dive In Festival 2023 revealed
Registration for Dive In, the insurance industry’s festival promoting diversity, equity and inclusion, is now open via diveinfestival.com.
Motor insurance payouts rose faster than premiums in Q2
The Association of British Insurers has revealed that motor insurance payouts rose by 29% in Q2, up to £2.5bn, outpacing premiums.