News
Keoghs and LV crash fraudulent street racer's claim
Keoghs and LV have saved £135,000 in a fraud case where the claimant was found to be street racing, and taking part in a joint criminal enterprise.
FCA warns against Tempcover clone targeting TikTok
The Financial Conduct Authority has issued a warning on fraudsters claiming to be FCA-authorised firm Tempcover, claiming to be the short-term insurance specialists on TikTok.
Esure restores direct motor business
Esure has re-established its capacity to offer motor insurance quotes directly through its website following a planned six-week outage.
Axa reveals how AI is transforming the business
Axa UK & Ireland has 12 “between proof of concept and proof of value” artificial intelligence initiatives currently ongoing across the business, according to CEO Tara Foley.
Urban Jungle to use latest funding to expand product range
Home insurance startup Urban Jungle has raised £11.2M in its latest funding round led by existing investors, including Sony.
RSA ‘pragmatic’ on product review as NIG acquisition completes
RSA intends to “move at pace” and make strides towards going to market with a single set of products by the end of this year following its acquisition with NIG and FarmWeb, Sonya Bryson has told Insurance Post.
Trade bodies lambast FCA’s transparency plans
16 financial services trade bodies have warned the Financial Conduct Authority against any plans to publish details of future regulatory investigations before they reach their conclusion.
Allianz’s lawsuit against Revolut ends in settlement
Allianz Partners and Revolut have settled a lawsuit over an abandoned travel insurance deal that saw the companies trade blows in recent months, Insurance Post can reveal.
Hughub enters into administration
Insurance software provider Hughub has been placed into administration due to a lack of funding.
Wakam looking to exploit ‘unlimited UK potential’ following regulator approval
French B2B2C insurer Wakam has received approval by the Financial Conduct Authority and Prudential Regulation Authority to launch a UK subsidiary.
LV’s departing claims director Milliner tipped for DLG position
Allianz has confirmed Caroline Johnson as LV’s new general insurance claims director, with Martin Milliner set to depart the insurer after 18 years.
Peppercorn accelerates B2B deal after funding round
Peppercorn AI raised £1.25m more than anticipated in its latest funding round, allowing the firm to bring plans for its first B2B deal six to nine months forward.
Axa CEO Foley on why another XL-sized deal isn’t on the cards
Axa UK & Ireland CEO Tara Foley won’t rule out another acquisition but said her growth plan for the business is to build plus consolidate everything currently within the multi-line provider.
Hughub CEO and former SSP director Jonathan Davey retires
CEO of Hughub and former SSP director Jonathan Davey has retired after a 36-year career.
Motor premiums stabilise but cost to insurers mount
The Association of British Insurers’ motor insurance tracker has revealed that premiums increased by just 1% in the first quarter of 2024.
Pen’s Zurich deal; CFC’s M&A team; AIG’s leadership change
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
UN creates NZIA replacement
The United Nations Environment Programme has replaced the now-discontinued Net Zero Insurance Alliance with a multistakeholder forum, although most former UK-based NZIA members have yet to join.
LV’s Mike Crane leaves insurer
Mike Crane, director of LV Broker, is leaving the insurer and is to be replaced by portfolio pricing director, Nicola George.
Home insurance premiums climb by nearly a third
Home insurance premiums increased by 31% between January and March 2024, according to the latest research from Compare the Market.
ABI unveils financial inclusion strategy
The Association of British Insurers has unveiled a financial inclusion strategy, which commits to addressing “unfavourable” premium finance practices and suggests exploring ways to subsidise motor cover for some drivers.
ABI sets out principles to address motor premium finance
Members of the Association of British Insurers have agreed to follow five principles to manage the amount customers pay when they pay their premiums monthly rather than annually.
Canary Riverside appeal leads to reduction in freeholder payout
An Upper Tribunal has reduced the sum repayable to leaseholders of the Canary Riverside complex in east London, ruling that just 65% of the total should not have been paid.
Former GCHQ director joins Cyber Monitoring Centre
The Cyber Monitoring Centre has appointed former GCHQ director general for technology, Gaven Smith, to its technical committee.
Zurich and Freedom Services partnership targeting £50m GWP in year one
Zurich UK has penned a five-year deal with managing general agent Freedom Services under which the insurer will provide capacity for an existing commercial vehicle book as well as a fresh telematics play.