News
Lloyd’s confirms Brussels as post-Brexit destination
Lloyd’s has confirmed it will be setting up a new European business in Brussels following the government’s decision to invoke Article 50.
Peak Re's profit hit by 88% in 2016
Hong Kong-headquartered reinsurer Peak Re saw pre-tax profits fall 88% last year to $6.9m (£5.5m) compared with $59.2m in 2015.
AIG warns on rise in Asia-Pacific nat cat travel claims
Research from AIG Singapore suggests that high-impact incidents such as extreme weather events, virus outbreaks and socio-political volatility are the top emerging risks for Asia-Pacific travellers in 2017.
Donna Willis replaces Tim Yorke as ERS COO
Donna Willis has been promoted to the role of chief operations officer at ERS as Tim Yorke departs from the company at the end of March.
Biba calls for EU free trade agreement as Article 50 is invoked
The British Insurance Brokers’ Association has called on Prime Minister Theresa May to make "urgent progress" in setting up a new free trade agreement with the European Union now that Article 50 has been invoked.
Live: Industry reacts as government triggers Brexit
Check out Post's live blog on industry reactions as the government invokes Article 50.
Ireland urged to ‘draw lessons’ from Lloyd’s Brussels decision
Ireland’s trade body for insurance said lessons need to be learned from Lloyd’s decision to pass up on Dublin as its European subsidiary.
Criminal gang sentenced after five year investigation carried out by IFED
A criminal gang have been sentenced for their involvement in sophisticated fraud following an investigation carried out by the Insurance Fraud Enforcement Department.
Sompo closes Endurance deal, launches International unit
Sompo Holdings has completed its $6.3bn acquisition of Endurance Specialty, and will integrate the Bermudian carrier through a new unit, Sompo International.
Connected garage among topics of IBIS 2017
The collision repair market and the connected garage are among the topics that will be discussed by the International Bodyshop Industry Symposium at its global summit 2017 taking place in June in Madrid.
Lloyd’s body recommends Brussels as EU destination
The Lloyd's Franchise Board has recommended that the market chooses Brussels as the location of its post-Brexit subsidiary, Post understands.
PRA plans fee for Solvency II internal model approval
The Prudential Regulation Authority has announced a proposal to introduce a fee for Solvency II full and partial internal model approvals.
AA profits hit by greater aggregator spend
AA saw profits dip by 2.6% last year due to a higher marketing spend on aggregator sites.
Global insured disaster losses hit $54bn in 2016: Swiss Re
Natural catastrophes and man-made disasters in 2016 resulted in insured losses of $54bn (£43bn), an increase of 46%, according to Swiss Re's latest Sigma study.
Competition watchdog updates investigation into price comparison sites
The competition watchdog will look into whether price comparison sites could be more transparent.
IUA calls for reform on the discount rate as increase in premiums are becoming 'sizeable'
The International Underwriting Association has joined insurers and called for a reform of the discount rate and the way in which personal injuries are analysed and settled.
Six out of 10 insurers have signed up to fraud database
Six out of ten general insurers have signed up to the Insurance Fraud Register, new figures reveal.
Discount rate cut could triple PI claims costs: Marsh
Changes to the personal injury discount rate could increase the cost of personal injury claims by as much as three times, according to Marsh.
11 more insurers join automated subrogation platform
Validus has added 11 insurers to its Verify subrogation portal community following Aviva and Ageas going live on the platform in 2016.
Top UK insurers revealed to use unsafe credit card practices
A secret shopper survey has found a majority of insurers have potentially unsafe practices over credit card data.
Post People 27 - 31 March
Check out this week's movers and shakers.
Payouts for employers’ and public liability claims 'significantly' climb
Insurance payouts for small employers’ and public liability personal injury claims have increased significantly over the past two years, climbing to an average value of nearly £4,000 by the end of last year.
Nelson: Regulatory burden hampers Solvency II
The regulatory burden imposed upon insurers by Solvency II hampers a fundamentally good regulatory framework, Lloyd’s chairman John Nelson has said.
Eight out of 10 financial services firms to increase cyber security spending
Eight out of 10 financial services firms expect to invest in preventative technology and IT systems over the next year.