News
Ardonagh valued at $14bn following investment from Stone Point Capital
The Ardonagh Group has secured an equity investment from funds managed by US-based private equity firm Stone Point Capital LLC.
Court ruling tightens exceptions on credit hire claims
A ruling on a credit hire case brought by HF and Admiral, sets out a tighter expectation on providing evidence of potential losses.
Ex-Criterion loss adjuster used dead in-law’s details in £160k scam
A former senior loss adjuster for Criterion, who submitted a series of fake insurance claims as well as keeping recovered items for himself, has been jailed.
‘No current plans’ for travel claims database, says MIB
The Motor Insurers’ Bureau has told Insurance Post that it has “no current plans” to develop a travel equivalent of the claims and underwriting exchange, despite industry-wide calls.
Direct Line catches scheming sisters over £450k fraud
Two sisters entered a guilty plea to the charge of contempt of court, following an attempt to defraud Direct Line Group in a crash-for-cash scheme.
Lloyds Bank chooses Axa for motor capacity
Axa UK has announced a five-year partnership with Lloyds Banking Group for its motor portfolio.
Motor insurers set for widespread profit in 2024
EY has predicted the UK motor insurance market will return to profitability in 2024 following two years of losses, but that profitability will be short-lived..
ManyPets co-founder joins Bikmo as chair
Cycle insurer Bikmo has appointed Steven Mendel, co-founder of ManyPets and former CEO of its parent company ManyGroup as chair, subject to approval from the Financial Conduct Authority.
Ageas agrees Saga partnership and Acromas acquisition
Saga plc and Ageas have reached a deal to establish a 20-year partnership for motor and home insurance.
Optalitix and PWC team up; Ki goes standalone; Davies’s reshuffle
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Labour’s building ambitions fail to factor in insurance
The government’s overhaul of the planning system to accelerate housebuilding and deliver 1.5 million homes over this parliament has been slated by insurers for failing to consider flood risk.
Aviva and Acturis partner to simplify claims process
Aviva has launched its application programming interface with Acturis, designed to streamline the claims process for brokers.
Allianz to vacate London office next year
Allianz will move its UK London office next year, with the site of its current building set to redeveloped into a 36-storey skyscraper, Insurance Post can reveal.
Beazley’s Cox names energy demand and ‘AI washing’ as risks for 2025
Beazley CEO Adrian Cox has highlighted increased demand for energy and “AI washing” as emerging risks the insurer will be keeping an eye on next year.
Aon teams up with European bank for Ukrainian war risk facility
Aon and the European Bank for Reconstruction and Development have launched a facility to aid Ukraine’s recovery and reconstruction by boosting reinsurance capacity.
FCA reviews leave insurance firms with hefty bill
A recent freedom of information request by Sicsic Advisory has revealed insurers and intermediaries paid a total of £2.7m for FCA-commissioned skilled persons reviews in the latest financial year.
Supreme Court grants appeal on motor finance decision
The Supreme Court has agreed to hear the appeal from Close Brothers and Firstrand Bank relating to three cases around motor finance.
AA raises concerns about comprehensive motor cover
The AA has called for comprehensive motor insurance policies that do not include windscreen cover to be renamed in order to avoid complaints from consumers that policies fall short of their expectations.
Markerstudy employee prosecuted for abusing customer information
A Markerstudy employee who unlawfully accessed personal information has been handed a suspended prison sentence.
City of London to host summit to champion financial services
The City of London Corporation has today (11 December) announced the inaugural Global Risk Summit in London on 21 May 2025.
Lloyd’s warns of $13.6trn future pandemic cost
The global economy could be exposed to potential losses of $13.6trn (£10.7trn) over a five-year period in the event of a future human pandemic, research by Lloyd’s and the Cambridge Centre for Risk studies has found.
Zurich UK replaces CEO Bailey with Jaksic
Tim Bailey is stepping down as CEO of Zurich UK to become CEO of Zurich’s new global life protection business, with Drazen Jaksic named as his replacement.
Ecclesiastical to launch around 12 schemes next year
Chris Withers, schemes and facilities director for Ecclesiastical has predicted the insurer will launch around 12 schemes by the end of 2025.
Environmental Audit Committee launches flood resilience inquiry
The Environmental Audit Select Committee has launched an inquiry to identify how to boost England’s flood resilience.