News
BGL adds Gousto founder Timo Boldt as NED
BGL Group has appointed Gousto founder Timo Boldt as an independent non-executive director while Thomas Chambers has joined the board of Compare the Market, also as an NED.
Co-op faces union protest against Markerstudy job losses
Today members of trade union Unite the Union gathered outside the Rochdale Pioneers Museum in Greater Manchester to oppose incoming job losses at Co-op insurance and the de-recognition of the independent trade union on its sale to Markerstudy.
Saga confirms £150m raise with ex-owner Sir Roger De Haan returning as chairman
Sir Roger De Haan, the former owner of Saga, is set to invest up to £100m in the business as it seeks to raise £150m through a share placement.
Protesters welcome workers back to Lloyd’s
A group of climate advocates welcomed Lloyd’s employees back this morning as the underwriting hall opened for the first time since March.
Hurricane Laura insured loss estimates range from $4bn to $12bn
Early estimates of the insured losses resulting from Hurricane Laura range from $4bn to $12bn, with the damage concentrated in southern Louisiana.
AA secures four week extension for takeover talks
The three groups eyeing up a takeover of the AA have been given an extra 28 days to make an offer for the business with the deadline moved back from today.
Future Focus 2030: The climate change podcast
It is the year 2030. The focus on climate change continued to gather momentum throughout the 2020s. But despite pressure to bring the date forward the UK government is still committed to helping reduce gas emission to net zero by 2050.
Capsicum to rebrand as Gallagher Re from next month
Capsicum Re is to rebrand as Gallagher Re from 1 October in order to align the business with Gallagher’s retail and insurance broking operations.
Insurer home and motor pledges to continue until end of October
Home and motor insurance pledges made by the Association of British Insurers to support customers during the Covid-19 crisis will remain in place until at least 31 October following an extension.
QBE CEO Pat Regan leaves insurer after investigation
Pat Regan, QBE group CEO, will leave the business following an investigation into “workplace communications.”
Climate protesters expected at Lloyd's today
Climate advocates calling for Lloyd's to “wash its hands of coal and tar sands” are expected to gather outside the Lloyd's building this morning as the underwriting room reopens.
Gallagher appoints Michelle Bree as UK retail COO
Gallagher has appointed Michelle Bree, currently chief operating officer at Pen Underwriting, as chief operating officer for its UK retail division, with effect from 1 October.
Updated: Over one million homes at risk as Hurricane Laura brings ‘unsurvivable’ storm surge to US Gulf Coast
Hurricane Laura, which made landfall in Louisiana early this morning as a category-four storm, has the potential to impact 1.1 million homes worth $265bn in terms of reconstruction cost value, according to Core Logic.
Aon and WTW merger gets shareholder vote of approval
Aon and Willis Towers Watson shareholders have voted in favour of the risk giants' merger.
Leisure and hospitality sector faces 'plethora' of employers' liability claims
Businesses in the leisure and hospitality sector have been warned they face “inevitable” employers’ liability claims from employees who contract the coronavirus on the job or are otherwise injured as a result of changes made by businesses post-lockdown.
Senior underwriting departures at MS Amlin as restructure continues
MS Amlin Underwriting has named a single chief underwriting officer, with its co-CUOs for specialty insurance to leave the business at the end of September.
Storm Francis eyes UK as August weather claims continue
The Met Office has issued further wind and rain warnings for today as storm Francis hits the UK, while the impact of Scottish floods continues to be felt.
Brokers urge Biba not to spread itself too thin after redundancies
Brokers have voiced their support for the British Insurance Brokers’ Association but urged the trade body to continue to cover all the issues as the association made five staff redundant.
Ecclesiastical ducks to £59.7m loss for H1 2020
Insurer Ecclesiastical made a loss before tax of £59.7m for the first half of 2020 as the Covid-19 impact bit.
Automated lane keeping systems advent raises insurance challenges
Insurers have welcomed the government’s consultation into the safe use of automated lane keeping systems in vehicles but warned against making the “huge leap” of believing this “clever bit of technology” is the same as an automated car.
Competition watchdog opens inquiry into Bupa’s CS Healthcare takeover
The Competition and Markets Authority has opened an inquiry into Bupa Insurance’s proposed merger with CS Healthcare, a Friendly Society with approximately 18,500 members originally set up in 1929 to provide health insurance cover for members of the UK…
Analysis: Why falling premiums do not mean clear cut savings for motorists
Falling average motor premiums may represent less significant savings for individual consumers than at first glance, experts have cautioned, while a swift return to pre-Covid motor premium levels is "not inevitable."
François-Xavier Boisseau made ERS chair after Amanda Blanc’s Aviva move
Former Ageas UK CEO François-Xavier Boisseau has been appointed as ERS chair following Amanda Blanc’s surprise Aviva CEO appointment.
CII hands in notice for its London office
Exclusive: The Chartered Insurance Institute is mulling an exit from its Lombard Street office.