News
Brightside appoints Derek Henry as broking MD
Brightside has appointed Derek Henry as managing director of broking, following the departure of Russell Bence.
Gauntlet’s appointed representative network enters Wales
Gauntlet Group’s network Gauntlet Enterprise has picked up its first Welsh appointed representatives.
BoE governor Carney warns insurers over climate change
The Governor of the Bank of England has described climate as a “big, big issue” for general insurers and reinsurers.
Low first-half cat losses give reinsurers temporary respite as Typhoon Jebi losses continue to mount
Below-average catastrophe losses boosted the profits of reinsurers in the first half of 2019, according to Fitch Ratings.
Private equity firm takes majority stake in Avid
A majority stake in managing general agent Avid has been sold to Beech Tree Private Equity.
FSCS to compensate 14,000 Alpha policyholders as deal collapses
Some 14,000 policyholders will be compensated by the government guarantee scheme after a plan to replace cover collapsed.
ECB data breach demonstrates how using third-party providers can lead to cyber risks
The European Central Bank has said that it potentially lost data in a cyber-attack, in which hackers breached one of its sites using malware.
This week: Think! tech drive
With 50 years of drink driving campaigns drunk driving is shunned by society, but with technology taking over our lives it might be time for a distracted driving campaign to make using hands-free mobile devices on the move as frowned upon.
Hong Kong protests highlight civil unrest exposures as risk appetites wane
Brokers have warned policies may include exclusions for strikes, riots and civil commotion, as insurer risk appetites in the region wane amid continued protests in Hong Kong.
QBE International posts loss following £51m Ogden hit
QBE has reported a one-off hit of $62m (£51m) as a result of the change in the Ogden rate in its first half results, without which it would have broken even.
Barton steps down as CEO of Wrisk
Niall Barton has stepped down as CEO of insurtech start-up Wrisk to become executive chairman.
Admiral sees £33m Ogden blow in first half
Admiral has reported a hit of £33m from Ogden in the first half of 2019, with a total estimated hit of between £50m and £60m.
Gruelling season and big wages result in record hit to Premier League clubs: Marsh
Injuries cost the Premier League clubs £221m in the 2018-2019 season, 3% more than in the previous season.
Insurers throw support behind calls to ban use of hands free devices while driving
Insurers have welcomed a Parliamentary report calling for tougher restrictions on using hands free mobile devices while driving.
Allianz creates digital claims role
Allianz Insurance has appointed Shelley Hughes to the newly created role of digital claims propositions manager.
Industry body calls on government to protect vulnerable road users
The Association of Consumer Support Organisations has called on the government to match the Financial Conduct Authority in its approach to all types of vulnerable road user.
More than half of London market risks placed electronically in Q2
Lloyd’s syndicates placed 60.2% of in-scope risks electronically during the second quarter of 2019, surpassing the 50% target set in December.
This month in Post: Insurtechs, results and discount rate
London seems strangely quiet in the summer, most people are away on holiday, and out of office replies are basically a given.
Insurtech Pluto teams up with Blink after £300,000 seed raise
Zurich backed start-up Pluto has entered partnership with travel insurtech Blink.
Aviva UK profit dips as result of restructuring but excludes £45m Ogden hit
Aviva’s UK general insurance business delivered an operating profit of £172m for the first half of 2019, though the result excludes the £45m expense of strengthening reserves following last month’s discount rate decision.
Zurich posts a 144% profit increase in H1
Zurich UK GI has seen an increase of 144% in operating profits for the first half of 2019.
Cyber insurance payout rates at 99% but uptake still too low
Cyber insurance payout rates at 99%, but the take-up rate of cyber insurance by businesses in the UK still worryingly low, warn insurers.
Trov partners with Lloyds Banking Group to relaunch UK insurance offering
Insurtech Trov has today unveiled a white-label insurtech platform in partnership with Lloyds Banking Group.
Hastings share price dives after profit slashed to £38.2m following Ogden hit
Hastings share price fell over 8% within the first two hours of trading this morning after it reported a profit after tax of £38.2m (30 June 2018: £72.9m) for the first six months of 2019.