News
Stranded holidaymaker in Mexico ‘didn’t declare medical condition’
Axa has declined to cover medical bills for a pensioner who fell ill on holiday in Mexico because he allegedly did not declare an existing medical condition.
Principal unveils expansion plans for ‘cracking’ new acquisition
Principal Insurance will move its newly acquired specialist motor broker from Kendal to Lancaster amid plans to more than quadruple staff.
Volkswagen telematics tie-up is ‘model for future’
Trak Global has tied up with Volkswagen to provide tech support for new drivers.
#Postpeople: 23 - 27 May 2016
Who has moved where in the world of insurance this week?
ABI calls for cyber attack database
Insurers should have access to a national database of recorded cyber attacks in order to better provide cover, according to the Association of British Insurers.
Sharon Long leaves XL Catlin for Marketform
Former XL Catlin claims director Sharon Long has joined Lloyd’s insurer Marketform in the same role.
US consultancy Imaginatik to target UK and European insurers with Ingenin deal
US-based innovation consulting and software provider Imaginatik is to target the UK and European insurance sector after striking a partnership with Ingenin.
Axa quits investing in tobacco
Axa has announced it will stop investing in the tobacco industry where it invests more than €1.7bn (£1.3bn).
Insurtech firm gets £200,000 in funding
A ‘disruptive’ insurtech firm specialising in risk management software has attracted £200,000 in debt funding.
ABI appoints four industry ‘big-hitters’ to board
Senior figures from AIG, Zurich, Prudential and Scottish Widows have been appointed to the board of the Association of British Insurers.
Insurance offered for stem cell therapy
Insurance cover for stem cell therapy has been offered for the first time to “democratise” a process that would ordinarily cost hundreds of thousands of pounds.
LMG appoints Susan Jakobek as PPL MD
Susan Jakobek has been hired as managing director of Placing Platform Limited, a firm that manages the roll out of electronic placement in the London Market.
Quiz of the week - 20 May 2016
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Skuld to acquire Scandinavian Marine Agency
Skuld has signed a letter of intent to purchase Scandinavian Marine Agency in a deal that would give the Oslo-based marine insurer renewal rights on the latter’s hull and machinery book.
Brexit ‘could result in 48,000 insurance job losses’
Businesses could relocate “overnight” following a Brexit, putting up to 48,000 insurance jobs at risk, according to a report.
Enstar's Starstone opens Australian specialty underwriting operation
Global specialty insurer Starstone (formerly Torus) owned by Bermuda-based Enstar has created a Lloyd's underwriting facility for Australia and New Zealand.
XL Catlin lead underwriter for crashed Egypt Air flight
Post has learned XL Catlin was the lead underwriter for the Egypt Air flight, now believed to have crashed into the Mediterranean.
Beale, Tulloch appointed to UN and World Bank Group-backed steering committee
Lloyd's CEO Inga Beale and Aviva global chairman Maurice Tulloch have been added to a committee guiding the United Nations and World Bank Group-backed Insurance Development Forum.
Charles Taylor Managing Agency appoints Ajay Gupta as CUO
Charles Taylor Managing Agency has appointed Ajay Gupta as chief underwriting officer and board director from Mitsui Sumitomo Insurance Underwriting.
Motor helps Ageas UK’s COR to stay below 100
Ageas UK has reported a 99% total combined ratio (Q1 2015: 99.7%), driven by improved motor COR of 98.7% (Q1 2015: 106.4%), but other non-life ratios were weaker compared to this time last year.
LMA adds four to board
Four candidates have been elected to the Lloyd’s Market Association board, including several C-suite level executives.
Zurich hires from QBE for senior Australia claims role
Zurich has appointed Hilary Bates as chief claims officer for Australia and New Zealand.
Moreau to leave Axa in June
Nicolas Moreau, chairman and CEO of Axa France, is to leave the insurer on 30 June after 25 years.
Facebook investors back claims fraud detection start-up
An early Facebook investor has ploughed $10m (£6.8m) into a tech startup that uses artificial intelligence to detect fraudulent insurance claims.