News
Retreat from coal wins insurers praise from NGOs
Commitments to disengage from coal-producing and coal-dependent power companies have won insurers plaudits from activist organisations, according to consultancy Sigwatch.
Financial services survey finds insurance optimism surging
Optimism among insurance providers has soared to its highest level in years, according to the latest CBI/PwC Financial Services Survey, with brokers also increasingly upbeat.
Hastings sees claims costs jump in Q4
Rising claims costs in quarter four are expected to put a slight dent in Hastings’ 2019 dividend payout.
Pukka hits pause on business
Exclusive: Motor managing general agent Pukka has temporarily suspended trading, having reached its capacity limit with providers.
Ecclesiastical group compliance director to retire
John Titchener, group compliance director for Ecclesiastical, will retire later this year.
Risk managers must make sustainability transition: Zurich group CRO Giger
Risk managers have never been busier, Zurich’s group chief risk officer Peter Giger said, as he urged businesses to address environmental risks sooner rather than later.
FSCS reveals £12.4m cost of Qudos and Lamp failures
The Financial Services Compensation Scheme has forecast that the failures of Qudos Insurance in December 2018 and Lamp Insurance in May last year will cost £12.4m this financial year.
FSCS set to cut levy for insurers as broker bill rises in 2020/21
The Financial Services Compensation Scheme has proposed a levy on general insurance providers of £118m for 2020/21, down £47m on the budget for the current year.
German insurtech Getsafe launches in UK with Hiscox partnership
Heidelberg-headquartered Getsafe has launched a digital contents insurance product in the UK.
Australian regulator warns of insurance scammers in wake of fires
Australians whose property has been damaged by the ongoing bushfires should beware of “fictitious or unscrupulous tradespeople, repairers or firms offering to assist them with their insurance claim”, the Australian Securities and Investments Commission…
Allianz business transfers resulted in 180 LV redundancies
180 LV staff faced redundancy as a result of the Allianz commercial business transfers, with around nine in ten (90%) having found roles elsewhere.
Environmental risks dominate World Economic Forum's global risk outlook
Environmental and climate-related risks have topped the World Economic Forum’s rankings of long-term global risks ahead of the organisation’s annual meeting of political and business elites in Davos next week.
RSA e-trading director exits amid strategy changes and departures
Exclusive: Departures and changes for RSA's e-trade division after former e-trading director Paul Trivett leaves the business.
Gefion barred from expanding scope until ‘serious liquidity problems’ sorted
Danish unrated insurer Gefion cannot enter new lines of business or branch out into further territories until it can meet its solvency capital requirement, the regulator has ordered.
Go Compare urges 28 day cooling off period for auto-renewals
Go Compare has called for a doubling of the cooling off period for auto-renewals from 14 to 28 days during which time insurers should take “all reasonable steps” to make customers aware their insurance has been auto-renewed.
Jon Hancock set to leave Lloyd's this year
Lloyd’s performance management director Jon Hancock will leave One Lime Street this year, it has been announced.
Address cyber and climate risks or face 'critical impact', warns AGCS CEO
Companies face “a critical impact” if they fail to address cyber and climate risks, the CEO of Allianz Global Corporate and Specialty has warned.
Somerset Bridge sells Business Choice Direct
Arron Banks-backed Somerset Bridge Insurance Services has sold its commercial insurance subsidiary Business Choice Direct Insurance Services to Somerset-headquartered Lloyd & Whyte Group for an undisclosed sum.
Simon Cooter returns to the market in advisory role at insurtech Quotall
Simon Cooter, former Covéa Insurance commercial lines and high net worth director, has been appointed as a strategic advisor to insurtech Quotall.
Matson hints at US reinsurance M&A following Capsicum Re buyout
Capsicum Re could seek to expand its presence in the US through acquisitions, Gallagher UK broking and underwriting CEO Simon Matson has said, following the company’s acquisition of the reinsurance broker.
Ken Randall to step down from R&Q
R&Q has recruited William Spiegel as executive director and deputy group chairman ahead of co-founder Ken Randall stepping down in around 12 months’ time.
Former Iprism holding company moves towards liquidation with small payout
Unsecured creditors of Spectrum Bidco are in line to get a £216,112 payout as the former holding company of Iprism Underwriting Agency moves from administration into creditors’ voluntary liquidation.
RSA commercial motor underwriting director steps down
Ian Kemp stepped down as commercial motor underwriting director at RSA last month.
Interview: James Long, Criterion MD
James Long assumed the position of managing director at Charles Taylor-owned loss adjuster Criterion in 2018, after 6 years at the company. He spoke to Post about the challenges the high net worth sector is facing, as well as predictions and plans for…