News
Davies snaps up first law firm since Keoghs
Davies has bought Shoreside Law to add global commercial and maritime litigation services to its legal arm Keoghs.
Axa recruits Tombs to head up SME business
Axa Commercial has appointed former Zurich head of SME Paul Tombs as director of its SME intermediary business.
Lithium batteries causing fire-related home claims to surge
Prestige Underwriting has called for better collaboration between e-bike manufacturers and insurers, after the average cost of fire-related home insurance claims has quadrupled since 2007, to more than £24,000.
Ageas rules out any more bids for DLG
Ageas has confirmed that, following two failed attempts, the Belgian insurer “will not” make any more offers for Direct Line Group.
Ecclesiastical teases expansion into ‘new and exciting’ sector
Ecclesiastical has reported an underwriting profit of £24.5m for 2023, down 22% on its 2022 result of £31.5m.
Tesco’s pet partnership; Hiscox’s poetry; Biba’s compliance lead
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Direct Line CEO reveals plan to get business ‘back on track’
Direct Line Group’s CEO, Adam Winslow, has claimed the insurer has “strong foundations to build on”, adding the motor business had “turned the corner”.
Whiplash reforms shift insurers’ legal ‘buying criteria’
Three years on from the whiplash reforms, Minster Law’s CEO Shirley Woolham said insurers’ “buying criteria” for legal partners is shifting toward organisational sustainability.
LV’s checks catch serial travel insurance fraudster
A man who changed his name multiple times by deed poll and used the identities of his family and friends to make bogus travel insurance claims worth an estimated total of £75,000, has been sentenced.
Lockton’s Scott reveals greatest fear of cyber insurers and brokers
The most worrying concern for cyber insurance providers and brokers in 2024 is system risk, according to Lucy Scott, Lockton’s head of global cyber and technology.
Howden’s Will Bloomer passes away unexpectedly
David Howden, CEO of Howden Group, has paid tribute to his organisation’s chief corporate and legal affairs officer Will Bloomer, who passed away “suddenly and unexpectedly” last week.
Direct Line aims to cut costs by £100m following £189m loss
Direct Line CEO Adam Winslow has revealed plans to slash operating costs by £100m by the end of 2025 after the business made a £189.5m loss in 2023.
Zurich’s Clayton calls for travel insurance claims fraud database
Scott Clayton, head of claims fraud at Zurich, said the industry needs to share travel insurance data and create a database to crack down on fraudulent activity.
British Insurance Technology Awards shortlist 2024 announced
Today Insurance Post can reveal the shortlist for the 2024 British Insurance Technology Awards.
Tech transformations wont work ‘if the tail is wagging the dog’
Two years on from being brought in to oversee Direct Line’s online transformation, the insurer’s chief information officer Ash Jokhoo has outlined how work to develop an end-to-end digital claims process is going.
RSA ‘not finished’ building commercial book
Briefing: Sources have told Insurance Post that RSA is ‘not finished’ with its commercial build, with one claiming the insurer is looking at the potential purchase of Covéa’s commercial lines business.
There is still time to complete the Best Insurance Employer 2024 survey
Insurance Post has extended the deadline to be included in the 2024 Best Insurance Employer Survey.
FCA to review how insurance claims are being handled
The Financial Conduct Authority intends to check claims handling response times, and whether insurers are doing enough to help customers in vulnerable circumstances.
Sabre doubles dividend as it posts record premium income
Sabre has posted record premium income of £225.1m for 2023, while total dividend has doubled to 9p per share.
Insurtech mindset and legal landscape has changed
The legal sector is “ready for something different” and insurtech founders have shifted their mindset to disposal, according to Beyond Legal founder Nick Pester.
Zurich reveals it has found more than 160 use cases for AI
Zurich has deployed more than 160 artificial intelligence-powered solutions across its business around the world, the insurer’s group chief information and digital office Ericson Chan has said.
Axa’s schemes directory; McLarens’ UK entertainment team; Markerstudy rebrands broker platform
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Campaigners claim second victory against ‘carbon bomb’ projects
Probitas has confirmed it has ruled out insuring the East African Crude Oil Pipeline and the proposed West Cumbria coal mine, following intense protestor pressure.
ABI insists fire safety scheme is temporary
Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning…