News
Ombudsman launches review following undercover investigation
Thousands of complaints against insurers may need to be re-examined after a TV investigation found staff at the Financial Ombudsman Service were woefully undertrained.
Munich Re to cut 900 jobs as reinsurer targets profits surge in 2018
Munich Re is to axe 900 jobs as part of cost saving efforts in its reinsurance business.
Markel International to cease writing London open market property
Markel International has ceased writing London open market property business, making three redundancies.
Aston Lark buys masonic broker Ingram Hawkins & Nock
Aston Lark has bought specialist broker Ingram Hawkins & Nock in a deal that will add £10m of premium to the group.
Aviva hires LV and Zurich bosses in commercial growth plan
Exclusive: David Carey and Mark Campbell have left Zurich and LV respectively to join Aviva, as the company bolsters its commercial business.
MCE to pull out of Ireland following ‘incredibly disappointing’ loss of passporting
MCE Insurance will cease writing business in the Republic of Ireland from next year as a result of a loss of passporting from Brexit.
Axa denies U-turn after customer has excess refunded from Liverpool car park fire
Exclusive: Axa has denied it has made a U-turn after a customer had their excess refunded from the Liverpool car park fire.
UK General launches cyber personal lines product
UK General has launched a personal lines cyber insurance product to cover loss from cyber bullying, defamation and insured data held on smart devices.
Mark Collins replaces Robin Challand as CIO at Ageas
Mark Collins is to replace Robin Challand as chief information officer at Ageas following Challand’s appointment as claims director at the company in January of this year.
Canopius appoints Davison and Meyer to COO and CFO after buyout
Canopius has named Laurie Davison as group chief operating officer and Nigel Meyer as group chief financial officer.
Loss adjusting and insurtech gains fail to stem Charles Taylor profit decline at full year
Well-publicised gains in Charles Taylor’s loss adjusting and insurtech arms saw revenues jump 25% in 2017 but failed to push the insurance services provider to profit.
NMU to close Letchworth office in restructure
Munich Re service company NMU is closing its Letchworth office in a restructure of its Southern Region operations.
Motor premiums climbed by over 10% in 2017
Premiums for all types of motor insurance increased in Q4 2017.
Saffron acquires Hertford-based broker Continuum
Broker Network-owned Saffron Insurance has acquired Hertford business insurance broker Continuum.
Former Integro bosses to launch London market platform for Beach
Former Integro bosses John Sutton and Toby Humphreys have been appointed to lead a specialty and wholesale platform at broker Beach.
Cost of motor claims hits highest ever level
The cost of motor claims has climbed to the highest level on record, the ABI said. However, claimant solicitors say the numbers don't paint the whole picture.
Insurance blockchain pilot to become a company
Exclusive: B3i, the blockchain pilot involving 38 insurance companies, is to move from being a consortium to being an incorporated legal entity following its period of market testing.
This week: The consequences of buying big
By far the biggest purchase I ever made was when I bought my house.
Industry calls for tougher CMC regulation ahead of Commons debate
Exclusive: Industry has urged government to take a tough stance on cold calling ahead of a debate in parliament.
Consortium completes $952m acquisition of Canopius
A private equity consortium led by Centerbridge Partners has completed its acquisition of Canopius.
Burford Capital to set up insurance company in Guernsey
Investment management firm Burford Capital has received outline approval to set up an insurance company in Guernsey.
Aviva has £600m war chest for acquisitions
Exclusive: Aviva has a £600m war chest for bolt-on acquisitions, but the money would only be spent on firms which add “significant value” to the group.
Hammond calls for EU free trade agreement on financial services
Philip Hammond has said there is no reason that the UK financial sector cannot be part of a free trade agreement post Brexit.
Beazley to step down as LMG CEO
London Market Group CEO Chris Beazley is to step down in the summer of 2018.