News
Motor finance firms off the hook in historic Supreme Court ruling
The Supreme Court has today (1 August) rejected two of the three arguments brought forward as part of the historic £44bn motor finance case.
Axa acquires Prima
Axa has acquired 51% of Italian insurtech Prima, including its UK business, for €500m (£433.4m).
Allianz x Sainsburys Bank; Bridgehaven buys SureStone; Volante's CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
James Dalton made redundant by MIB
James Dalton, chief services officer at the Motor Insurers’ Bureau, has been made redundant after a review of its leadership structure, Insurance Post can reveal.
UK only soft spot in Axa’s personal lines pricing growth
Axa Group released its first half of 2024 results this morning (1 August), revealing the UK as the only European personal lines market to report a pricing decline.
Leasehold class action could target up to 20 firms
A class action lawsuit brought to four leaseholders and a Gallagher-owned broker is just the beginning, according to the lawyer orchestrating it.
Brewis leaves FCA for KPMG
Matt Brewis, the Financial Conduct Authority’s director of insurance, is leaving the regulator to join KPMG UK, Insurance Post can exclusively reveal.
Sabre CEO unfazed by drop in GWP
Sabre CEO Geoff Carter has told Insurance Post the provider’s 20% reduction in gross written premium "doesn’t bother us at all," but acknowledged growth is necessary to reach its £80m profit target by 2030.
PL mega-mergers fuelling capacity fears among brokers
Martyn Mathews, managing director at SSP Broker, has said looming mega mergers such as Aviva-DLG and Ageas-Esure are fuelling capacity concerns among motor brokers.
No Way Holmes: Allianz CEO mistaken for The Hulk
Fans of the Marvel Cinematic Universe have mistaken Allianz Holdings CEO Colm Holmes for Bruce Banner, the alter ego of the Incredible Hulk, after his likeness was spotted in photos taken on the set of the latest Spider-Man film.
Compare the Market finds pet owners lack home insurance
Compare the Market has today published research that has found more than half (52%) of pet owners do not have sufficient home insurance.
DynaRisk to grow out global teams following $4.7m fundraise
Cyber insurance risk management and analytics firm DynaRisk has announced a $4.7m (£3.5m) fundraise, led by YFM Equity Partners.
No NatCat respite predicted as property pay-outs increase
Natural catastrophes will not give any respite to insurers in 2025 according to Willis, as UK property pay-outs hit £1.6bn for Q2 2025.
Ransomware ban could increase ‘administrative burden’ on victims
Tom Draper, managing director, UK, at Coalition, has told Insurance Post the insurance industry has a role to play in guiding firms through cyber requirements of the government’s proposed ransomware payment ban.
Warning signs re-emerge in motor after poor inflationary reaction
The personal motor insurance market may have returned to profit in 2024 but experts at WTW have warned that doesn’t mean pricing problems are solved.
MGA platform Launch closes in on UK debut
Managing general agent platform Launch Underwriters is closing in on getting its first UK MGA off the ground, Post can reveal.
Bridgehaven makes acquisition to unlock EU MGA market
Bridgehaven has acquired Dublin-based insurer SureStone Insurance DAC, which will serve as its launchpad into the European managing general agent market.
Storm Éowyn losses creep up again to £650m
Perils has increased its industry loss estimate for Storm Éowyn for a third time from €696m (£592m) to €747m (£650m).
West Ham’s broker partner; Aviva’s enhanced freight liability; Zurich’s CTO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
WTW Networks MD teases ‘transformational’ plans
John Read, managing director of WTW Networks has noticed a reduction in consolidation, and teased some “transformational” changes at the firm.
Allianz recruits from RSA for MGA-facing role
Allianz Commercial has recruited Daniel Head from RSA as head of delegated authority and portfolio solutions for UK global and international markets.
Compare the Market working with Cambridge University on AI
Compare the Market and the University of Cambridge have committed to a long-term academic partnership involving data science and artificial intelligence skill development, Insurance Post can reveal.
Chubb accused of coal underwriting u-turn
Chubb has reportedly reversed its coal underwriting policy by becoming the lead reinsurer for a coal-fired power plant in Vietnam.
MS Amlin drafts Dart as CEO Carrier departs
MS Amlin has appointed former Brit chief underwriting officer Christiern Dart as its next CEO, succeeding Andrew Carrier.