News
This week: Following the herd
Following sunny weekend scenes of revelers and holidaymakers, packed out tubes and stockpiling shoppers, at the start of this week the UK finally entered something vaguely resembling a lockdown.
Chubb responds to Maze ransomware hack claims
Leading cyber insurance specialist Chubb has been targeted by hackers who claim to have encrypted files and stolen data.
Aon-WTW merger expected to continue unabated despite pandemic
The deal struck between broking giants Aon and Willis Towers Watson to combine to form the world’s largest insurance broker is unlikely to be jeopardised by the coronavirus pandemic, a corporate advisory expert has told Post.
Insurance gig economy services hit pause with self-employed government grants expected in June
The government today announced additional financial measures to help the self-employed, with insurance gig economy platforms We Go Look and Shepper having hit pause on jobs earlier this week.
Lloyd's details coronavirus impact as it posts 2019 profits
The insurance industry must get better at explaining the products it offers, Lloyd’s CEO John Neal said, as the market’s aggregated results for 2019 showed it returning to profit on the back of large investment earnings.
Treasury Committee questions ABI on coronavirus response
Treasury Committee chair Mel Stride has asked Association of British Insurers director general, Huw Evans, to address queries on the insurance response to the coronavirus pandemic.
Ardonagh posts Ebitda surge as it sees £74m loss for 2019
The Ardonagh Group reported a loss after tax of £74m and an increase in Ebitda to £115.3m for the year ended 31 December 2019, up from £29.7m in 2018.
Gefion ordered to stop writing business by Danish regulator
Gefion Insurance has said it will appeal after the Danish Financial Supervisory Authority rejected its recovery plan and ordered the company to stop writing business.
Ageas cuts repair times by a week as its unveils Tractable-powered policyholder app
Exclusive: Insurtech Tractable claims it has significantly reduced the key-to-key time for vehicle repairs for client Ageas by at least a week using the latest iteration of its AI technology.
Government suspends gender pay gap reporting
The Government Equalities Office and the Equality and Human Rights Commission have suspended the gender pay gap reporting deadlines for 2019/20 due to the coronavirus outbreak.
Insurers not expected to penalise motorists over coronavirus MOT exemptions
The insurance industry will not look to sanction motorists who do not get MOTs carried out under a six-month government exemption due to coronavirus, the Association of British Insurers has confirmed.
Health insurers urged to be flexible after ‘historic’ NHS announcement
The Association of Medical Insurers and Intermediaries has called on all firms to come together to tackle the Covid-19 crisis after the announcement by the government that the private sector is making almost its entire capacity available to the NHS.
FSCS pays £5.6m to cover first 100 Elite claims
Following insurer Elite entering administration the Financial Services Compensation Scheme has paid out £5.6m towards claims.
Biba conference cancellation ‘right and only’ thing to do say exhibitors
Insurers and others who had planned to exhibit at the British Insurance Brokers’ Association’s annual conference have welcomed its cancellation and pledged to return next year.
Insurance prelim results delayed in line with FCA market request
The AA and Sabre Insurance Group have both delayed the publication of their preliminary financial results after a request from the Financial Conduct Authority to all UK listed companies last week.
Thingco tech boss launches platform to help the elderly and self-isolating
Thingco chief technology officer Jonathon Valentine has launched a platform to securely connect elderly people and people in self-isolation to volunteer groups, foodbanks and takeaway services.
Airmic stops planning for 2020 conference
The coronavirus pandemic has led risk managers’ association Airmic to press pause on planning for its annual conference, which had been set to take place at Edinburgh’s EICC in June.
Trade bodies back FCA's insurance key workers stance
The Association of British Insurers and the British Insurance Brokers’ Association have both welcomed the steps outlined by the Financial Conduct Authority to help identify key workers in financial services.
Biba conference cancelled due to coronavirus
The British Insurance Brokers’ Association has cancelled its 2020 conference and exhibition, scheduled to take place in Manchester between 13 and 14 May, due to the coronavirus pandemic.
Arc Legal chases 20% growth following integration of Amtrust stablemate
Legal expenses insurer Arc Legal is aiming to capitalise on developments around whiplash reforms and fixed recoverable costs in commercial disputes, following the integration of fellow Amtrust subsidiary Composite Legal Expenses.
Kingsbridge sold to US-based NSM Insurance
Private equity backer Dunedin has exited Kingsbridge following its sale to Pennsylvania-based NSM Insurance.
Covid-19: FCA asks listed firms to delay publishing prelim results
The Financial Conduct Authority has written to stock exchange traded companies that it knows are intending to publish preliminary financial statements in the next few days asking them to delay for at least two weeks due to the coronavirus crisis.
Axa names Moquet as UK & Ireland CFO
Axa has appointed Roland Moquet as chief financial officer in the UK and Ireland replacing Amelie Breitburd who is leaving the company.
Aon’s Dudley becomes chair of Liiba
Richard Dudley, CEO of Aon’s UK Global Broking Centre, has succeeded Roy White of Marsh as chair of the London and International Insurance Brokers’ Association.