In this video recorded as part of the Insurance Post Live Annual Conference 2021 an expert panel discuss what the future UK insurance industry might look like
There will be no job losses from Markerstudy buying Brightside with the brand and Bristol office being kept, Gary Humphreys, group underwriting director at Markerstudy, told Post.
Co-op Insurance has won its claim against IBM for breach of an IT contract in 2017 and is entitled to a £13m net sum, the High Court has ruled.
Post has compiled a list of the 100 highest profile people working at the top for UK general insurers, Lloyd’s vehicles, international insurers with a UK presence, regulators, trade bodies and markets based on how long they have been in the hot seat.
LV has again been ranked the top insurance organisation in the UK by the Institute of Customer Service in its biannual UK Customer Satisfaction Index, although the gap at the top between it and the chasing pack has been reduced.
Markerstudy has agreed a £200m investment led by private equity firm Pollen Street Capital, which will see its debts to Qatar Re restructured and fund organic and acquisition-led growth.
Managing general agent Markerstudy made a loss in 2019, with discussions ongoing around its near £200m debt to Qatar Re.
Post wraps up the major insurance deals, launches and investments of the week
Late on 25 November, the Prudential Regulation Authority and Financial Conduct Authority at last approved Markerstudy’s takeover of the Co-op’s underwriting business – 675 days on from when the deal was first announced.
The Co-op has confirmed the completion of the sale of its underwriting business to Markerstudy after Post revealed the deal had received regulatory approval.
Markerstudy’s long-running takeover of Co-op’s insurance underwriting business could be completed by Christmas after the Prudential Regulation Authority signed off on the deal, Post can reveal.
IBM’s work contained “extensive” and “material” issues in both design and execution that should not have been present at a late stage of development, a Direct Line Group subsidiary has alleged in an ongoing legal spat over an IT contract.
From supply chains disruption to social distancing and repair shops, the pandemic has caused presented unprecedented challenges to the supply of car parts to the UK and how repairs are conducted following government guidelines.
Tony Lloyd, Labour MP for Rochdale, filed a motion in House of Commons on 1 September calling on Co-op to review its decision to sell the Manchester-based insurance business to Markerstudy.
Today members of trade union Unite the Union gathered outside the Rochdale Pioneers Museum in Greater Manchester to oppose incoming job losses at Co-op insurance and the de-recognition of the independent trade union on its sale to Markerstudy.
Markerstudy's purchase of Co-op’s underwriting business could lead to up to 300 redundancies, with the group telling Post it has committed to keeping 700 staff and is actively engaging with Unite the union.
Trade union Unite has accused Co-op of having "forgotten its principles" by selling its Manchester-based insurance business to Markerstudy, alleging the deal will result in 200 job losses.
Markerstudy has opened a “redundancy consultation exercise”, the insurer has confirmed.
The industry has paid tribute to Paul Hemingway, head of affinity marketing for Police Mutual, who has sadly passed away.
Blog: Incoming Esure chair Andy Haste, an insurance boss defined more by the roles he didn’t do - than those he did?
There was a time when former RSA group CEO Andy Haste seemed to be linked with every senior position in insurance. Post content director Jonathan Swift reflects on some of the ones that got away - if rumour and speculation were to be believed.
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we speak to strategic human resources business partner and Inspire working group chair Lisa Hooley, about Co-op Insurance winning the Diversity…
Markerstudy has restructured its £240m plus loan with Qatar Insurance Company in a move the company said was a long-term solution “providing security to customers and suppliers”.
Zurich Insurance and its employees were among the big winners at the inaugural Diversity and Inclusion in Insurance Awards last night.
Exclusive: Clare Lunn, director of fraud at LV, has been selected as a chair of the the General Insurance Fraud Committee.