News
Lloyd’s CEO predicts no changes to current pricing cycle
Lloyd’s CEO John Neal has said he expects current insurance pricing conditions to persist, dismissing suggestions of imminent widespread softening of rates.
Police warn insurers about uptick in deepfake fraud
Detective Chief Inspector Tom Hill, head of unit for the Insurance Fraud Enforcement Department at the City of London Police, has warned audio and visual manipulation enabled by technology, also known as deep fakes, is a major growth area for insurance…
Lloyd’s CEO hails ‘superb’ first half of 2024
Lloyd’s has today announced an overall profit before tax of £4.9bn (HY 2023: £3.9bn) for the first six months of 2024.
Zurich and Marsh McLennan call for partnership to tackle cyber risk
Zurich and Marsh McLennan are calling for public-private collaboration and recovery mechanisms to be put in place to strengthen society’s cyber resilience.
Direct Line ‘turnaround underway’ as insurer returns to profit
Direct Line Group has returned to profit after shedding almost 488,000 motor customers in the first half of this year.
Norgrove aims to ‘dial up the voice of the SME’ in ABI role
RSA UK CEO Ken Norgrove has said he wants to use his new role at the Association of British Insurers to help small and medium-sized businesses “get their voices heard”.
Zurich creates climate alliance after ditching NZIA
Zurich has created the Zurich Climate Resilience Alliance, 17 months after exiting the United Nations Net Zero Insurance Alliance.
RSA’s Norgrove named ABI deputy president
Ken Norgrove, CEO of UK & International at RSA Insurance, is the new deputy president of the Association of British Insurers.
Simply Business CEO Thomas to head up Ripe
Alan Thomas, CEO of Simply Business is set to replace Paul Williams as CEO of Ripe and has been tasked with powering the "next phase" of growth.
Esure to ‘soft-launch’ multi-product policy in 2024
Esure CEO David McMillan has shared how he hopes to grow the firm by expanding its reach in multi-product insurance.
Vet nurse bitten for £13K pet insurance fraud
A veterinary nurse has been sentenced after making more than £13,000 worth of fraudulent insurance claims to Allianz for her pets using the systems at her workplace.
Aon UK names Kemp as head of commercial risk
Rob Kemp has been appointed as Aon’s new head of commercial risk for the UK, stepping into the role UK CEO Jane Kielty had left vacant.
Aviva targeting ultra-HNW growth following acquisitions
After completing the integration of the Azur and Axa XL private clients’ business, Aviva’s managing director for high net worth Ann Owen has said the insurer is looking to grow, but not “at any cost”.
Top risk for UK businesses; WTW’s latest launch; Lloyds Bank’s head of insurance
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Carbon neutrality in home repairs to cost £9.8m
Carbon neutrality in UK domestic property claims repairs would cost the industry £9.8m, according to Sedgwick.
Pet insurance complaints hit five-year high
The latest Financial Ombudsman Service complaints data for Q1 has been released, revealing that pet insurance complaints have hit a five-year high.
Axa UK GI records £103m underwriting loss in 2023
Axa’s UK general insurance company made a £103m underwriting loss in 2023, accounts filings have revealed.
Changes at the top of FOS as Rachel Lam leaves post
Insurance Post has been informed that Rachel Lam is no longer in her position as ombudsman director of insurance at the Financial Ombudsman Service.
Brokerbility targets member GWP growth of 20%
Brokerbility MD John Dunn says that while members are on average growing at about 16% per year, he wants growth to hit 20%.
Consumer group warns of insurers overcharging vulnerable customers
The Financial Services Consumer Panel has published a research paper raising concerns that vulnerable customers may be at risk of overpaying for insurance.
Q&A: Theo Duchen, Acturis
Theo Duchen, co-CEO and co-founder of Acturis, discusses Astorg’s increased stake in the company, how best to implement artificial intelligence, and why he thinks his business is well placed to take on rivals in the US and Canada.
Lloyd’s explains how diverse talent initiative will work
Lloyd’s head of culture Mark Lomas has outlined how the Inclusive Futures education and workplace initiatives will operate in practice.
Ageas UK achieves 49% growth
Ageas Group has published its results for HY 2024, revealing that Ageas UK has seen “strong growth” in the first half of the year.
Dagenham blaze highlights ongoing high-rise fire safety problems
After a fire tore through a multi-storey building in Dagenham, East London, insurers have observed new notifications regarding building fire safety defects continue to trickle in, and cladding problems highlighted by the Grenfell Tower blaze remain.