News
AI unlikely to wipe out jobs but will have 'significant' impact on insurance industry
Investment into Artificial Intelligence start-ups has gone up by 80% since January last year but there is some time to go before technology wipes out jobs in the industry.
Insurance industry heavyweights make it on 2017 rich list
Admiral founder and CEO Henry Engelhardt, BGL founder Douw Steyn, and Saga Group’s Sir Roger and Peter De Haan, are among industry figures in the latest Sunday Times Rich List.
Hood Group gets government funding for AI and machine learning project
Hood Group has secured over £96,000 in government funding from Innovate UK that will help it develop data and Artificial Intelligence services.
Three in court tomorrow for murder of Guy Hedger
Three men will appear in court tomorrow for the murder of insurance marketing executive Guy Hedger.
UK General hires Bluefin chief risk officer
UK General has appointed former Bluefin executive Jane Bean as chief risk officer.
Hong Kong Insurance Authority appoints CEO and senior directors
The Hong Kong Commissioner of Insurance John Leung Chi-yan has been appointed as CEO of the incoming Insurance Authority for one year.
Post Claims Club: Travel sickness claims surge driven by claims farming
Travel sickness claims have soared as legal firms push holidaymakers into making spurious claims, a Post event heard.
UK General chief risk officer resigns
UK General chief risk officer Steve Blott has left the business.
Finch to buy three more brokers before September
Finch is in talks to acquire three more brokers before September.
Kennedys to merge with US insurance law firm
Kennedys will be merging with US insurance law firm Carroll McNulty & Kull to create a global insurance practice.
Mackinnon and Nanra join ICA's board
The Insurance Council of Australia has appointed two senior members to its board.
Robo insurance developer seeks MGA partner
An insurtech developer is looking to partner with an underwriter to further develop its Artificial Intelligence-based chatbot.
Halo to offer car hire excess insurance to Italian market
Insurtech broker Halo Insurance Services has expanded into the Italian market by offering car hire excess insurance policies.
Penny Black's Social World - May 2017
Data disciples, dangerous desserts and Dames with daschunds
Lancashire Holdings sees GWP fall in the first quarter
Lancashire Holdings saw a 22% drop in net operating profit in the first quarter of 2017, down to $25.2m (£19.56m) from $32.4m for the same period in the previous year.
PIB chooses Ignite as its broking systems provider
PIB has chosen software provider Ignite as its broking systems provider for its personal lines business.
Beazley to open Barcelona office in Europe expansion
Beazley has launched its Europe expansion with the opening of a Barcelona office.
Esure scales back home insurance growth due to 'challenging conditions'
Esure has decreased its home book by 4.5% as a result of "challenging" market conditions.
RSA reports £40m Ogden charge
RSA has reported a £40m net charge due to the change in the recent Ogden rate and a growth in its premium income in Q1 2017.
Swiss Re's Q1 profits hit by Cyclone Debbie
Swiss Re's first quarter 2017 after tax profits fell 53% compared with Q1 2016 to $656m (£511m) after a $350m hit from Cyclone Debbie.
Finch acquires third business in five months following Broker Network buy out
Finch Group has made its third acquisition since itself being bought out by Broker Network.
Editor's comment: Surprise!
I probably wouldn’t make a very good insurer or broker as I love a good surprise and I deal quite well with change.
QBE to apply for European licence outside the UK
Australian giant QBE is planning to apply for a European passporting license outside of the UK as a result of Brexit.
AIG returns to Q1 profit despite poor COR performance
Global P&C and life insurer AIG bounced back to profit in the first quarter of 2017 despite some poor underwriting performances.