News
Burford Capital to set up insurance company in Guernsey
Investment management firm Burford Capital has received outline approval to set up an insurance company in Guernsey.
Aviva has £600m war chest for acquisitions
Exclusive: Aviva has a £600m war chest for bolt-on acquisitions, but the money would only be spent on firms which add “significant value” to the group.
Hammond calls for EU free trade agreement on financial services
Philip Hammond has said there is no reason that the UK financial sector cannot be part of a free trade agreement post Brexit.
Beazley to step down as LMG CEO
London Market Group CEO Chris Beazley is to step down in the summer of 2018.
Aviva moves on from Ogden blow to return to profit
Aviva has shaken off the impact of Ogden to see a 4% growth in UK general insurance profit last year.
Wrisk CEO warns politicians of barriers for insurtechs accessing government scheme
Exclusive: Politicians need to look at the Enterprise Investment Scheme to make it easier for insurtech start-ups to access it.
Axa-XL deal puts both insurers' ratings under review
The major rating agencies have unanimously taken rating actions on both Axa and XL Group following the recent announcement that the French insurance giant is looking to acquire 100% of the specialty insurer.
Esure broadened risk appetite to spur motor growth, says Ogden
Esure has been able to grow its motor book substantially over the past three years as a result of a more relaxed risk appetite.
Updated: QBE claims boss replaces Ashton West at helm of MIB
Ashton West OBE is to retire as CEO and executive director of the Motor Insurers’ Bureau, being replaced by former QBE group chief claims officer Dominic Clayden.
Esure's profit up 35.6% at full-year
Esure has reported a pre-tax profit of £98.6m for the year ending 31 December 2017.
China-backed hackers can cause insurers 'extensive' losses
China-backed hackers have the technical capabilities to cause insurers extensive losses, a consultant warned.
Urban Jungle to offer home sharing insurance
Insurtech start-up Urban Jungle has launched tenants' liability insurance for renters and is planning to release a number of other products in the coming months.
Fight against hackers is like 'Cold War on steroids'
The cyber security and insurance industries are focusing too much on products and neglecting the human factor that is at play in 95% of data breaches, a conference heard.
GRP hires Clive Nathan as CEO of MGA division
Global Risk Partners has appointed Clive Nathan as CEO of the group’s managing general agent division.
Channel, Canopius and LSM join forces on trade credit platform
The Channel Syndicate and Canopius will join Liberty Specialty Markets in forming a consortium to provide capacity for Toredo, an online platform for single situation trade credit insurance.
RSA director of motor and injury claims Ian Currie set to retire
Exclusive: RSA director of motor and injury claims Ian Currie is set to retire at the end of the month.
Updated: Motor claims from Beast from the East could hit £33m
The industry is counting the cost of ‘the Beast from the East’, with motor insurers in particular facing claims of up to £33m.
Insurers celebrate National Apprenticeship Week
Insurers are celebrating National Apprenticeship Week by creating hundreds of roles and showcasing their apprentices.
Theresa May says UK will abandon passporting post Brexit
Prime Minister Theresa May said the UK will abandon passporting when it leaves the European Union.
Alpha Insurance in liquidation, blames CBL
Alpha Insurance has placed itself into solvent liquidation as a “direct consequence” of the failure of CBL Insurance.
Axa can do what Catlin could not: XL CEO
An XL Group under Axa would provide the Bermuda-based specialty insurer with the scale and competitive edge that it failed to achieve from the landmark Catlin acquisition, XL’s CEO said.
Axa to buy XL for $15.3bn
Axa has entered an agreement to acquire 100% of XL Group for $15.3bn (£11.1bn).
This Month In Post: Truth or dare on cyber
At the ABI annual dinner on Monday, as guests at my table predicted future insurance trends, I was struck by a suggestion. People will want to protect their most precious belongings and, in 10 years’ time, that will be their personal data, a KPMG partner…
Senior director leaves in UK General restructure
Exclusive: A senior director has left UK General and further roles are at risk as the group moves to restructure its sales team.