News
Whiplash reform shelved in light of general election
The government's proposed whiplash reform has been kicked into the long grass as a result of the general election.
Driverless cars law stalled by general election
The government’s driverless cars bill will have to be reintroduced from scratch in the next parliament after the general election.
Hiscox CUO sells £1.2m shares
Richard Watson, the chief underwriting officer at Hiscox, has sold a total of £1.2m of shares in the company.
R&Q triples pre-tax profits in 2016
Bermudan insurance investor R&Q tripled pre-tax profits in 2016 to £8.5m from £2.8m in the previous year.
AIG to take $100m hit from Ogden change
AIG expects to record a $100m (£77.9m) hit to its Q1 2017 pre-tax profits as a result of the cut to the Ogden discount rate.
Vienna Insurance Group doubles profits in 2016
Austrian Insurer Vienna Insurance Group has reported profits before tax of €407m (£340.7m) for 2016.
ABI and IFB label Vnuk as a 'hospital pass ruling'
The Association of British Insurers and the Insurance Fraud Bureau have labelled the Vnuk ruling a ‘hospital pass ruling’ and criticised it for being unworkable in the UK.
One in three insurance firms to set up operations outside UK following Brexit
One in three insurance firms intend to set up operations outside the UK following Brexit.
Northern Irish insurance salaries rise despite Brexit fears
Four out of 10 insurance workers in Northern Ireland received a pay increase in 2016, with on average increases of 3.7%.
Ian Penny to take over as chief information officer at Hiscox following Wharton's departure
Ian Penny has been appointed as chief information officer for Hiscox, taking over from Gareth Wharton who is joining a newly formed cyber initiative at the company.
General election 'could delay whiplash reform for years'
Theresa May’s decision to hold a snap general election could delay the Ministry of Justice’s proposed whiplash reforms for years, campaign group Access to Justice has claimed.
FCA increases budget to tackle Brexit costs
The Financial Conduct Authority has increased its operating budget as a result of Brexit demands.
Private equity acquisition of Ryan Direct 'a sign of serious intent' say brokers
The acquisition of Ryan Direct is a sign of “serious intent” by the private equity backers of Towergate, brokers said.
Ryan Direct bought by Towergate owners
Ryan Direct Group has been bought by the private equity backers of Towergate, Madison Dearborn Partners and HPS Investment Partners.
Swiss Re establishes a regional legal entity in Singapore
Swiss Re has established a regional legal entity in Singapore for its reinsurance business unit in order to strengthen its "commitment to Asia".
Deafness claims 'could become the new whiplash'
The volume of noise-induced hearing loss claims has increased threefold since 2013, figures show.
Post People: 18 - 21 April
The latest market moves in insurance.
FCA to launch probe into use of Big Data in retail pricing
The Financial Conduct Authority will carry out a review this year on how Big Data affects pricing in retail insurance.
Brokers slapped with £10m increase to FSCS levy
Brokers will face an extra £10m levy over last year as a result of an expected spike in the number of payment protection insurance claims.
Andy Bord appointed permanent CEO of Flood Re
Andy Bord, interim CEO of Flood Re, has been appointed to the role permanently.
Zurich plans to underwrite Cover-More's travel policies
Zurich has confirmed it is interested in taking on the underwriting for Sydney headquartered travel subsidiary Cover-More's more than two million customers.
Week in Post: Doing a Chris and Gwyneth – but who gets to keep the tofu Easter egg?
Easter is all about new beginnings. This will be true for us more than most, as we at Incisive Media celebrate our new ownership.
AM Best downgrades MS Amlin’s Lloyd’s Syndicate 2001
AM Best has downgraded the financial strength rating of MS Amlin's Lloyd's syndicate 2001 to A from A+.
Ghostbroker ordered to pay back over £250,000 for selling fake policies
A ghostbroker has been order to pay back £253,000 for scamming over 50 people with fake insurance policies.