News
FCA pauses all Gap insurance sales
The Financial Conduct Authority has ordered all providers of guaranteed asset protection insurance to pause selling the product by the end of this month.
Allianz returns fire on ‘embarrassing’ Revolut allegations
Allianz has hit back at Revolut in its latest filings in a lawsuit over a prematurely axed travel insurance deal.
Gallagher names Marsh’s Nick Harris as UK&I retail CEO
Gallagher has appointed Nick Harris, formerly CEO of Marsh’s Pacific division, as CEO of UK & Ireland retail broking.
Aviva confirms Lloyd’s return with £242m Probitas deal
Aviva has struck a deal to acquire Probitas, confirming its return to Lloyd's this morning (4 March).
Bspoke acquires Police Mutual personal lines business
Bspoke Group has completed the acquisition of Police Mutual personal lines business less than four years after the mutual was absorbed by Royal London.
Aviva and Howden partner; Ecclesiastical’s Cockrem to retire; Eurochange to launch travel insurance
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Motor insurance ‘as affordable now as it was in 2018’
Sabre CEO Geoff Carter has said that the burden of paying for motor insurance premiums is no worse now than it was in 2018.
Probitas offices painted ‘blood red’ again
A newfound protest group has emerged and targeted the London offices of three insurers in rage over fossil fuel projects.
iCan launches mentoring platform
iCan has launched a mentoring platform designed to meet the development needs of Generation Z workers entering the insurance industry “that are not being adequately met by the current system”.
Direct Line confirms it rejected ‘opportunistic’ Ageas bid
Direct Line has said it received an approach to buy the group from Ageas on 19 January, which it felt “significantly undervalued” the group and its prospects.
Campaigners unleash ‘digital mayhem’ on insurers
Three insurance firms have been digitally targeted by climate activists over their refusal to rule out support for fossil fuel projects.
Ageas mulls £3.1bn bid for Direct Line
Ageas has confirmed that it is in the “preliminary stages” of considering a £3.1bn bid for Direct Line.
Consumer Duty will be a success ‘when we stop talking about it’
According to a panel at the Association of British Insurers’ annual conference, the Financial Conduct Authority’s Consumer Duty has a way to go before it is considered a success.
RSA’s Frost named COO for Hiscox UK
Hiscox has appointed RSA’s mid-market managing director Cath Frost as UK chief operating officer, effective from 15 April.
Climate rebels storm insurer offices over support for ‘fossil fuel crooks’
Extinction Rebellion activists have occupied the offices of five insurers in the City of London,as the movement launches its week of action to stop the companies insuring “climate chaos”.
RSA to be ‘number one’ in commercial lines by end of 2025
RSA will be the best commercial lines and specialty insurance company by the end of 2025, according to Ken Norgrove, the provider’s CEO.
Frost to leave RSA amid appointments from NIG
RSA regions managing director Cath Frost is set to leave the business, as new appointments from NIG join the insurer’s new look commercial lines leadership team headed by Sonya Bryson.
Labour promises to rip up red tape for insurers
Tulip Siddiq, shadow economic secretary to HM Treasury, has promised if the Labour party gets into power she will make sure regulation encourages growth and competitiveness in the insurance industry.
Insurance is ‘inherently discriminatory’, says White
Axa’s UK CEO Tara Foley has said the protection gap is “very real”, while Stella’s founder and CEO Sam White believes the industry is “inherently discriminatory”, even if it does not intend to be.
Protestors slam Aviva and Allianz for targeting healthy trees
Climate activists have accused the insurance industry for “pointing the finger of blame” at trees, rather than investing its billion-pound profits into preventing flood claims.
FCA moves to make enforcement quicker and more transparent
The Financial Conduct Authority has said it will carry out enforcement cases more quickly and has begun a consultation on plans to make its investigations more transparent.
Treasury tells insurers to take advantage of Brexit bonfire
Insurers must make the most of the Conservative government ripping up the Solvency II rules and replacing it with Solvency UK requirements, according to Bim Afolami, economic secretary to HM Treasury.
ManyPets co-founder to step down as Barile takes on group CEO role
Steven Mendel, CEO of ManyPets parent ManyGroup, has announced that he will step down from his role in mid-April and be replaced by current ManyPets UK CEO Luisa Barile.
ABI outlines plan to tackle motor insurance premiums
The Association of British Insurers has unveiled steps the industry will take to bring down motor insurance premiums after the cost of cover soared by 25% in 2023.