News
Stackhouse Poland acquires Quantum Underwriting Solutions
Stackhouse Poland has acquired specialist provider of high net worth insurance services, Quantum Underwriting Solutions.
Former Independent staff hit with further delays to redundancy payouts
Former employees of Independent Insurance have been hit with delays to redundancy payouts that were expected to be announced on Friday.
Grahame Chilton: Gallagher growth will be ‘stronger post-Brexit’
Arthur J Gallagher’s long-term growth will be stronger following Britain’s exit from the European Union, Grahame Chilton CEO of Gallagher International said.
Crash for cash scammers sentence following private investigation
Two crash for cash scammers have been sentenced following a private investigation that revealed £32,000 fraud.
Insurers face ‘eye-watering’ bill from discount rate changes in Scotland
Insurers face an “eye watering” bill from the decision by the Scottish government to adopt the UK’s revised discount rate.
Two thirds of former Kwik Fit staff find new jobs
Two out of three workers affected by the Kwik Fit Uddingston site closure have found new jobs, according to a Scottish government study.
Insurtech start-ups graduate from Accenture incubator
A series of insurtech start-ups have completed the Accenture Innovation Lab programme and are set to begin their seed funding rounds.
Aviva Asia creates Asia regional CEO role
Aviva Asia has appointed the regional executive for Indonesia and Vietnam Randy Lianggara as regional CEO for China, Indonesia and Vietnam.
ICA extends Cyclone Debbie catastrophe declaration to New South Wales
The Insurance Council of Australia has expanded its catastrophe declaration associated with Cyclone Debbie and its aftermath beyond Queensland to northern New South Wales.
Defective products are leading liability loss, says Allianz
Commercial insurer Allianz Global Corporate & Specialty has identified defective products and work as the leading global liability loss by studying the total value of claims over a five year period.
Brussels move will affect fewer than 100 staff at Lloyd's
Lloyd’s of London anticipates fewer than 100 staff will be needed to operate its European post-Brexit subsidiary, chief financial officer John Parry said.
Half of insurtech investment is in artificial intelligence and IoT
Investment into insurtech increased by more than 50% globally to nearly £15m last year, with the majority of deals involving artificial intelligence, a report found.
Insurers to be hit with transparency rules from this weekend
Insurers will be forced from this weekend to conform to tough transparency rules over policy renewals.
Truss launches Ogden rate consultation
Elizabeth Truss, Secretary of State for Justice, has launched a six-week consultation on the discount rate.
Lloyd’s sees underwriting hit following £2.1bn major losses
Lloyd’s has seen underwriting profits slip on the back of major claims of £2.1bn last year.
Lloyd’s confirms Brussels as post-Brexit destination
Lloyd’s has confirmed it will be setting up a new European business in Brussels following the government’s decision to invoke Article 50.
Peak Re's profit hit by 88% in 2016
Hong Kong-headquartered reinsurer Peak Re saw pre-tax profits fall 88% last year to $6.9m (£5.5m) compared with $59.2m in 2015.
AIG warns on rise in Asia-Pacific nat cat travel claims
Research from AIG Singapore suggests that high-impact incidents such as extreme weather events, virus outbreaks and socio-political volatility are the top emerging risks for Asia-Pacific travellers in 2017.
Donna Willis replaces Tim Yorke as ERS COO
Donna Willis has been promoted to the role of chief operations officer at ERS as Tim Yorke departs from the company at the end of March.
Biba calls for EU free trade agreement as Article 50 is invoked
The British Insurance Brokers’ Association has called on Prime Minister Theresa May to make "urgent progress" in setting up a new free trade agreement with the European Union now that Article 50 has been invoked.
Live: Industry reacts as government triggers Brexit
Check out Post's live blog on industry reactions as the government invokes Article 50.
Ireland urged to ‘draw lessons’ from Lloyd’s Brussels decision
Ireland’s trade body for insurance said lessons need to be learned from Lloyd’s decision to pass up on Dublin as its European subsidiary.
Criminal gang sentenced after five year investigation carried out by IFED
A criminal gang have been sentenced for their involvement in sophisticated fraud following an investigation carried out by the Insurance Fraud Enforcement Department.
Sompo closes Endurance deal, launches International unit
Sompo Holdings has completed its $6.3bn acquisition of Endurance Specialty, and will integrate the Bermudian carrier through a new unit, Sompo International.