News
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.
Reg UK CEO Michael Phair appointed chair of Children and Families Across Borders
Michael Phair, founder and CEO of Reg UK, last week became chair of children’s charity Children and Families Across Borders.
David Duclos appointed NED at Lloyd’s Global Network
David Duclos has been appointed non-executive chairman of Lloyd’s Global Network.
Drivers in autonomous vehicles 'shouldn't be held liable'
Drivers of fully automated vehicles should not be held liable for accidents involving their cars while technology is in charge, says the Association of British Insurers and Thatcham Research.
Court throws out claim that would have created 'fraudsters' charter'
A six year landmark case that would have 'driven a coach and horses' through UK law has been thrown out by the Supreme Court.
Axa UK shifts focus to commercial as it makes profit
Axa UK and Ireland saw a combined operating ratio of 98.4% for its property and casualty business, an improvement on the 99.1% in the previous year.
Ageas UK CEO Andy Watson issues caution on Brexit claims inflation impact
Any “predictable impact” from Brexit on market premiums will probably result from claims inflation, Ageas UK CEO Andy Watson has warned.
Markerstudy Gibraltar business cost Qatar Re owner £37.9m
The acquisition of Markerstudy's Gibraltar-based insurance business cost Qatar Re just £37.9m once cash assets were taken into consideration.
Ageas UK closes in on chief risk officer
Ageas UK CEO, Andy Watson revealed that “pen has been put to paper” in the insurer’s recruitment drive for a chief risk officer.
Ageas UK says long goodbye to Ogden impact as CEO Watson hails ‘strong’ motor performance
Ageas UK saw a threefold increase in profitability in its 2018 full year results, reporting a profit of £76.7m compared to £25.4m in 2017.
FCA gives wholesale broking market a clean bill of health
The Financial Conduct Authority has closed its market study of wholesale insurance brokers, saying it had “not found evidence of significant levels of harm that merit the introduction of intrusive remedies”.
Fly BMI collapse highlights insurance gap
Nearly half of travel policies do not offer cover for airline failure as standard, research found, following the collapse of budget airline Fly BMI.
FCA issues warning over clone broker
The Financial Conduct Authority has issued a warning over an unauthorised firm pretending to be Protect Your Bubble.
Former Lloyd's chairman Sir David Rowland passes away
Lloyd’s has confirmed Sir David Rowland, its chairman from 1993 to 1997, has passed away at the age of 85.
PIB acquires Irish MGA Optis
PIB has acquired Irish managing general agent, Optis Insurances, as part of its European growth plans.
GRP buys equestrian broker
GRP has acquired Hertfordshire-based equestrian broker Shearwater, for an undisclosed amount.
Cloutier steps up at Aspen as Apollo deal completes
Aspen’s chairman Glyn Jones and group CEO Chris O’Kane have stepped down, with the completion of Apollo’s acquisition of the Lloyd’s insurer.
Ageas management shakeup continues as Jonathan Price joins as CFO from Aspen
Former Aspen UK chief financial officer, Jonathan Price has been appointed CFO of Ageas UK.
Charles Taylor Adjusting opens new Belgium office
Charles Taylor Adjusting has opened a new office in Belgium as it looks to expand its property and casualty business in Europe.
Insurance staff ‘stressed’ over weight of EU regulation
Insurers have issued a warning over the increasing toll that European Union regulation is having on employees.