News
EU insurers to be granted UK access after Brexit
European insurers operating in the UK will be able to continue to do so even after Brexit, according to plans outlined by the Prudential Regulation Authority.
Relief as IDD deadline extended by seven months
Insurers have received an early Christmas present in the form of a proposed delay of seven months to the implementation of the Insurance Distribution Directive.
Sure Thing to launch MGA in 2018
Sure Thing is preparing for future expansion and the launch of a managing general agent in 2018.
Davies makes TLSS its fifth 2017 acquisition
Davies Group has acquired specialist motor specialist Total Loss Settlement Services.
Axa Partners to roll out AI-driven concierge app across Europe
Axa Partners has entered into the concierge service market with the launch of its Artificial Intelligence-human hybrid app, Pleez.
Global insured losses pegged at $136bn for 2017
Total global insured losses in 2017 are expected to reach $136bn (£101.3bn), the third highest on record.
Lloyd’s insurers add £3bn in capital following storms
Lloyd’s carriers have added £3bn in capital in the wake of natural disasters in 2017.
Lemonade announces successful $120m funding round
On-demand insurer Lemonade has announced a $120m (£89.56m) funding round led by the Soft Bank Group and its existing investors.
Allianz invests $96.6m in emerging market insurtech
Allianz has invested $96.6m (£72.3m) in emerging market insurtech Bima.
Compre buys legacy books from Generali
Compre has acquired two books of business in total worth €300m (£264m) from Generali.
Vibe launches MGA Plus Risk
A Lloyd’s managing general agent, Plus Risk, has been established by Vibe.
Cyber Insurance Survey 2018 - help us get the full picture of how the market is shaping up
Do you hold strong opinions and views about the growth potential of the nascent cyber insurance market?
Cobra sees profits rise 33%
Cobra has seen Ebitda rise 33% to £1.44m from £1.08m.
PIB Group acquires Citynet
PIB Group has bought Citynet Insurance Brokers.
FCA warns against ‘bogus’ firm operating in the UK
The Financial Conduct Authority has issued a warning to insurers against an unregulated financial services provider targeting UK consumers.
Grenfell report: Building regulations ‘not fit for purpose’
Insurers have welcomed an official report in the wake of Grenfell Tower claiming that existing building regulations are “not fit for purpose”.
Aviva paid out £2.7bn in claims during 2016
Aviva paid £2.7bn last year in cash settlements and services to more than 775,000 UK customers claiming on their individual insurance policies.
Structured Data Capture now live for all classes of business
The first phase of Structured Data Capture is now complete and live across all classes of business in the Lloyd’s market.
Allianz secures finding of dishonesty against claimant law firm
A court has found that a claimant law firm inflated legal costs by over 75%, in a landmark case brought by Allianz.
VIG bolsters market share with Seesam acquisition
Vienna Insurance Group has acquired Estonia-based Seesam Insurance.
Chubb names Church as international property head
Chubb has named Brian Church executive vice president and head of international property for Chubb’s overseas general business, effective 1 January 2018.
BP Marsh takes £5m stake in EC3 Brokers
BP Marsh has taken a 20% equity stake in Lloyd’s broker EC3 Brokers for a cash consideration of £5m.
Insurance start-up Insure Pal to launch £15m initial coin offering
Insurance start-up Insure Pal is raising $18m (£15m) in an Initial Coin Offering to fund its UK motor launch in H1 2018.
Navigators secures market access through Belgian acquisitions
Navigators has purchased two Belgium-based businesses in a €35m deal which it hopes will allow continued access to the European market after Brexit.