News
Health insurance division drives Bupa UK's 5% revenue growth
Bupa UK reported a 5% increase in revenues in 2015 that was largely driven by its health insurance division, which saw an increase in new business in the SME and corporate segments.
Axa invests in German digital health start-up
Axa Strategic Ventures, the €230m (£178m) venture capital fund set up by the French insurance giant, has announced it is leading an investment round in Medlanes, a Berlin-based digital health start-up.
Iprism strikes deals with QBE and Gallaghers after Gable pulls two lines mid-term
Liechtenstein-based insurer Gable Holdings has exited the tradesmen and high-net worth household lines of business it offered through the Iprism Underwriting Agency portal mid-term.
Jail for insurance fraudster after failure to repay £13k
A man who failed to repay more than £13,000 following his conviction for medical insurance fraud has now been jailed.
Perils revises down Desmond flooding costs estimate
Catastrophe data specialist Perils has revised its storm Desmond flood property insurance market loss estimate to £662m down from £717m.
Northern Australia taskforce warns on government cyclone mutual
A Northern Australia taskforce has found a government mandated cyclone insurance scheme would cost taxpayers around A$5bn (£2.6bn) to help reduce premiums.
Pool Re boosts reinsurance cover to £1.95bn
Mutual reinsurer Pool Re has increased its reinsurance programme from £1.8bn to £1.95bn, after renewing cover it bought last March for a further three years.
Reduced Admiral underwriting share to have little financial impact
Admiral Group's 3% reduction in its underwriting share announced in the company's 2015 full-year results today (3 March) will not have a significant financial impact on the business, according to chief financial officer Geraint Jones.
Digital insurance is starting to bite high street brokers as Swinton closes branches
The rise of digital insurance starting to bite high street brokers, although the model still has some life left in it.
Admiral reports motor profit rise as Confused takes hit
Admiral has reported an 8% increase in 2015 group turnover to £2.12bn (2014: £1.97bn) and a UK motor combined ratio of 81% (2014: 83%).
PMI consolidator Chase Templeton completes fourth 2016 acquisition
Private medical insurance consolidator Chase Templeton has completed its fourth acquisition of the year with the purchase of Wellbeing Health Insurance.
Big data take-up slower among mid-tier UK insurers
Fewer mid-tier UK insurance firms are prioritising big data, with less than half prioritising such strategies compared to 82% of their large counterparts, according to a market survey.
Tugendhat leaves Towergate to return to care sector
James Tugendhat will be leaving his position as chief commercial officer at Towergate at the end of the month to return to the care sector.
Gladwell to leave Innovation Group amid flurry of exits
Innovation Group UK property head Greg Gladwell is to leave the company on 31 March after six months in his role.
Principal breaks into profit and doubles turnover
Manchester-headquartered Principal Insurance has reported a post-tax profit of £54,000 in the 2014/15 year from a £51,000 loss the year before.
Claims Club: SRA to conduct a thematic review following IFT’s call for tougher action on CMCs
The Solicitors Regulatory Authority will conduct a review into the issues and concerns raised by the Insurance Fraud Taskforce Report earlier in the year.
NIG moves Manser to lead broker and etrade markets
NIG has appointed a new managing director, Neil Manser, to oversee broker markets and etrade.
Esure responds to Lords on whiplash debate
Esure has responded to a House of Lords debate in which one of its cases was used as an example of why the UK is known as the "whiplash capital of the world".
RSA's Innes to chair ABI prudential regulation forum
The Association of British Insurers has launched an industry forum on prudential regulation with RSA group capital and financial risks director David Innes appointed as chair.
Claims Club: IFB will move to GWP levy in 2017 and broaden stakeholders to include aggregators and affiliates
The Insurance Fraud Bureau will move to a gross written premium levy from 2017 after undertaking a 2015 consultation of five key principles including its funding model.
Novae reports improved 2015 COR and GWP
Novae Group has reported a marginal increase in profit before tax of £54.9m (2014: £52.4m) and an improved combined ratio of 90.8% (2014: 91%) for the year ended 31 December 2015.
RAC buys Nebula Systems to boost telematics offering
RAC has acquired vehicle data company Nebula Systems, a deal the breakdown assistance provider said will boost its telematics offering.
Innovation Group appoints CEO replacement for Roberts
Outsourcing and solutions provider Innovation Group has hired Tim Griffiths to replace Andy Roberts, pictured, as its new group CEO.
GI CEO's urge against IPT increase in letter to Osborne
Twenty-three general insurance executives have written to Chancellor of the Exchequer George Osborne ahead of the 16 March Budget announcement, urging against a further increase in insurance premium tax.