News
Insurers warned not to use Brexit to ‘offload customers’
The regulator has issued a warning to insurance companies not to use Brexit as “an excuse to offload customers”.
Hastings profit sees steady growth
Hastings saw profit after tax of £130.6m in 2018, an increase of 3% from £126.7m in 2017.
Go Compare sees comparison revenue down as fewer customers switch
Go Compare saw revenue from its price comparison business fall by £4.8m as a result of “lower customer switching activity”.
Swinton closes Lowestoft branch
Broker Swinton has closed its Lowestoft branch, leading to six redundancies.
Insurers should stick to 'risk reflective pricing'
Insurers should ensure that premiums are a fair reflection of risk, a conference heard.
Pay-per-mile motor insurtech By Miles raises £5m
By Miles has raised £5m in a Series A funding round led by Bought by Many investor, Octopus Ventures.
RSA appoints Charlotte Jones as new CFO
RSA has appointed Charlotte Jones as its chief financial officer, replacing Scott Egan.
Penny James to become Direct Line CEO
Direct Line has appointed its chief financial officer Penny James as the successor to Paul Geddes as CEO.
Pool Re launches first terrorism cat bond
Pool Re, the UK’s state-backed terrorism reinsurer, has launched the first ever catastrophe bond to exclusively cover terrorism risk.
Analysis: What happens to motor after March 29?
In the event of a no-deal Brexit, motorists will have to carry green cards in the EU. But that’s just the tip of the iceberg
Lloyd's syndicate-backed insurtech launches
Lime, a new life insurtech targeting what it calls a “protection gap” in the UK, has launched.
Amanda Blanc issues caution on insurer big data use
Zurich EMEA CEO, Amanda Blanc cautioned insurers on how they use big data in her keynote speech at the Association of British Insurers annual conference.
Insurers must ‘take responsibility’ for dual pricing: Minister
Finance minister Robert Jenrick today warned insurers they must take responsibility for dual pricing.
Industry shifts toward executive gender balance
The number of women on the executive teams of insurance companies has increased by a fifth, a study by the Association of British Insurers has found.
No deal Brexit an ‘unforgivable act of economic self-harm’
Huw Evans, director general of the Association of British Insurers, will tonight warn that if there is no alternative other than no deal then the UK must delay Brexit.
QBE Europe sees profit dip
QBE Europe has seen its profit dip slightly even as it grew premium.
Auto renewals cost drivers £1.23bn a year
Auto renewals are costing drivers a collective £1.23bn a year, according to research by Go Compare.
Profits at Hiscox treble as insurer completes preparation for Brexit
Hiscox reported a 250% rise in its 2018 profit, following its move to exit from unprofitable areas in the London market business.
UK General sees profit rise after business review
UK General saw a 55% profit growth after exiting a number of unprofitable product lines.
German lawmakers give regulator power to extend passporting for 21 months
Germany has adopted preliminary provisions, which could see the passporting rights of UK financial institutions, including insurers, temporarily extended in the event of a no-deal Brexit.
Court hears first installment in Besso and Bloody Bay legal action
Exclusive: The first hearing in the case of Besso v Bloody Bay was heard today in the commercial court.
This week in Post: Sun, scams and Brexit
As we draw closer to the start of spring, the UK has seen unseasonably warm weather, with temperatures climbing into the double digits in recent days. But it’s not just the weather that’s heating up.
Employees of Call Connection file claim in ongoing administration
Former employees of failed insurance lead generator Call Connection are among the creditors seeking reparation, according to an interim report into the administration of the firm.
Theft of funds claims increase by 14% in UK
The number of claims for social engineering scams such as funds transfer fraud rose globally in 2018, according to claims data released by CFC Underwriting.