Trade union GMB called on the government to protect the AA from being “asset stripped” as the motoring group accepted a take-over offer from private equity firms.
Motoring group the AA has confirmed it reached an agreement on the terms of recommended cash acquisition under which Towerbrook Capital Partners and Warburg Pincus International will acquire the business.
Claims and Fraud Summit 2020: Hear from AA, Allianz, Aviva, Ecclesiastical, Hiscox, Markel, Munich Re, NFU Mutual, QBE, RSA and Zurich
The annual Insurance Post Claims and Fraud Summit will be taking place this year virtually on 18-19 November 2020 – so be sure to join us and take advantage of our online networking platform, livestreamed agenda sessions and explore a wealth of content.
In a live webinar session taking place on 18 November, an expert panel will discuss strategies for building a more sustainable approach to motor claims and what this means in terms of repair costs, as well as customer choice.
Shares in the AA opened more than 17% down this morning as private equity firms Centrebridge Partners Europe and Platinum Equity both confirmed they would not be bidding for the business.
The three groups eyeing up a takeover of the AA have been given an extra 28 days to make an offer for the business with the deadline moved back from today.
Motoring group The AA has confirmed holding takeover talks with three private equity parties as it discusses “a wide range of potential refinancing options”.
Insurance Covid-cast: Grumpy old insurance execs - Bunker, Cooter, Hanks and Smith on trading through a hard market
For the 36th episode of Post and Insurance Age’s Covid-Cast video series we gathered together an esteemed panel of ‘grumpy old insurance execs’ to talk about how to trade through a hard market, something many might have not experienced before.
Former Zurich UK general insurance CEO Dave Smith has joined AIG UK as a non-executive director and is set to become chair of the risk committee.
Janet Connor will be stepping down as managing director of insurance at the AA this summer with former RSA UK personal lines MD David Coughlan taking up the role, Post can reveal.
The gender pay gaps of top insurance brokerages showed little movement in 2019, with the divide between the mean pay of men and women shrinking by 0.33% while the gap in median pay grew by 0.34%.
Being a non-executive director of an insurance business is never boring but it’s fair to say that navigating the way through the current Covid-19 crisis is a completely new challenge and there are critical lessons that can be learnt from past crisis…
Insurers plead with government to make early call on further whiplash reform delay in light of Covid-19
The whiplash reforms implementation date should be delayed and a realistic timescale put in light of the Covid-19 epidemic.
It is now just over a week since the Prime Minister locked down the UK on 23 March to help slow down the coronavirus pandemic, strict measures which have seen traffic significantly reduced on the UK’s roads. Post content director Jonathan Swift spoke to…
The AA and Sabre Insurance Group have both delayed the publication of their preliminary financial results after a request from the Financial Conduct Authority to all UK listed companies last week.
Some firms are telling their staff to avoid all but essential work travel in the UK due to coronavirus concerns, leading to some insurance event postponements and cancellations, Post has learned.
Personal lines insurance providers are faced with a potentially “lethal” situation if call centre staff cannot go into work en masse due to coronavirus disruption, compliance experts have cautioned. Post asked brokers and insurers how they are preparing…
180 Years of Post - The history of direct insurance in the UK: How Direct Line and Churchill took on the establishment and ended up as merger partners
As Post celebrates 180 years, Post content director Jonathan Swift explores the birth of direct insurance in the UK and how two key early movers Direct Line and Churchill went from rivals to merger bedfellows in a deal that literally 'shook up insurance'.
Zurich was the big winner at the 2019 Post Insurance Fraud Awards picking up three awards, and a highly commended including top prize in the Investigation of the Year category.
Insurers have welcomed a Parliamentary report calling for tougher restrictions on using hands free mobile devices while driving.
Share prices for the AA fell this morning, following investor Woodford Investment Management significantly reducing its stake in the business.
In anticipation of the new discount rate announcement, expected by 5 August 2019, many insurers have already started to price and reserve at 0%
Exclusive: The government should close legal loopholes which could prevent owners of vehicles installed with mandatory speed limiters from claiming on their motor insurance, lawyers have warned.
Former LV boss Phil Bunker will replace Jonathan Roe on the regulated board of the AA.