News
This week: A rest or a change
I was lucky enough to spend last week’s sunny bank holiday on the South Coast enjoying a well-earned rest. For others in the insurance industry it seems that the saying 'a change is as good as a rest' is proving true with some major people moves this…
Marsh and Guy Carpenter revenues grow as MMC posts Q1 results
Marsh & McLennan’s risk and insurance subsidiaries – Marsh and Guy Carpenter – brought in combined revenues of $2.42bn in the first quarter of 2019, a 3% increase on the same three months last year.
MS Amlin names replacement for CFO John Worth
MS Amlin has named former Old Mutual executive Iain Pearce as its chief financial officer.
Hastings sees bump in revenue despite loss ratio warning
Hastings has reported a 4% rise in gross written premiums for the first three months of 2019.
Handl Group grows its medical and treatment portfolio
Handl Group, previously trading as FL360, continues its acquisition strategy with a purchase of Harrison Associates.
Pro Global snaps up Vibe MGA Management
Vibe managing general agent Vibe MGA Management has been bought by US reinsurance outsourcing and consultancy specialist Pro Global Insurance Solutions.
Flagging personal lines see Covéa's profits slashed
Covéa Insurance saw its underwriting profit slashed to £1.8m in 2018 compared to £12.4m in 2017, as its personal lines business felt the impact of claims inflation and adverse weather.
Edam Group invests in 18 month leadership scheme
UK specialist provider of credit hire and post-accident services, Edam Group, has invested in an 18 month leadership scheme built to boost its employees’ personal development.
Andy Briggs to depart from Aviva
Andy Briggs will step down as CEO of Aviva’s UK insurance division, as the group announces further management changes and a review of its UK business.
Brightside appoints former Swinton distribution director as group COO
Richard Beaven, former distribution director at Swinton, has joined Brightside as its group chief operating officer.
Machine learning insurtech raises £4.2m in seed investment round
London-based insurtech Artificial Labs has announced it has raised £4.2m in a seed round to scale up its team, product offering and geographic reach.
This week: Easter egg-citement
As we head towards a welcome four-day weekend, the insurance world has been getting in the spirit for Easter in the only natural way: smashing chocolate eggs.
Ministry of Justice launches consultation into the future provision of medical reports
The government has launched a consultation on a revised medical reporting process for road traffic accident claims.
Canopius and Amtrust Lloyd’s ink merger agreement
Canopius and Amtrust Lloyd’s have signed a merger agreement that is expected to see the combined operations become a top five Lloyd’s managing agent.
Insurers pledge to help rebuild Notre Dame Cathedral
Insurers have pledged to help with the restoration of the Notre Dame Cathedral, which went up in flames on Monday evening.
Axa insures two Notre Dame contractors
Axa has revealed it provided civil-liability coverage for two contracting firms that were working on an on-going restoration of Notre Dame Cathedral, prior to the fire that demolished the building on Monday evening.
Brexit and fair pricing lead FCA general insurance agenda for 2019/20
The Financial Conduct Authority has set out its priorities for the year ahead in its 2019/20 business plan, identifying Brexit as its “immediate priority”.
Ex-RSA SME MD Tara Waite rejoins insurance sector after Wonga collapse
RSA’s former SME managing director, Tara Waite (formerly Kneafsey) has re-entered the insurance sector as a non-executive director at Ageas UK, after leaving for payday lender Wonga.
Customers increasingly looking to credit to pay for premiums: research
Insurance customers are increasingly relying on credit to pay premiums, with nearly one in three planning to use more credit this year, research found.
Cytora becomes UK's best funded insurtech with £25m Series B raise
Cytora, a provider of artificial intelligence-powered solutions for the commercial insurance sector, today announced the largest funding round by a UK-based insurtech in 2019 as it looks to expand its product suite and enter new territories including the…
Biba creates head of general insurance role
Former Tokio Marine Kiln head of distribution, Alastair Blundell is joining the British Insurance Brokers’ Association as head of general insurance.
Trade credit claims mount as UK tops global insolvency forecasts
Trade credit insurer Atradius has forecast that global insolvencies are set to rise for the first time in 10 years, with the UK facing the highest increase of all advanced markets.
Uptick in start-up broker applications leads Marsh Networks to develop fresh offerings
Exclusive: Marsh Networks has seen an increase in the number of start-up brokers expressing interest in joining, leading it to create two packages to attract them to its networks.
HDI Global appoints Paul Williams as head of underwriting for corporate risk
HDI Global has announced the appointment of Paul Williams as head of underwriting for its corporate risk division, replacing Kevin Armstrong.