Personal
Insurers’ profitability to remain lower than cost of capital
Data analysis: General insurers are adjusting rapidly to the new higher interest rate era ushered in by the most intense monetary policy tightening since the 1980s but profitability is unlikely to soar back to pre-pandemic levels imminently.
Steps insurers should take to become inclusive innovators
Analysis: Emma Ann Hughes explores what it will take to create an inclusive insurance industry culture that is capable of producing products and services suitable for a wider cross section of society.
Who’ll buy RSA’s home and pet books if sale is green-lit?
Content Director’s View: With RSA and parent Intact floating the idea of a possible sale of its remaining personal lines business, Jonathan Swift looks at who could be in the market for a new pet and/or household book.
Ripe CEO plans to snap up rivals
Insurtech Ripe has completed its first M&A transaction by acquiring specialist boat insurer Craftinsure, with bosses revealing plans to snap up other rivals.
View from the Top: Bspoke’s Tim Smyth on inflation challenging MGAs
Tim Smyth, CEO of Bspoke Group (formerly UK General), says MGAs need to make their voices heard and engage regulators and policyholders on the challenges facing the sector.
Home insurance payouts outpace premiums in Q2 2023
The latest figures from the Association of British Insurers reveal that £782m was paid out in home insurance claims in the second quarter of 2023.
Young adults want Alexa to sort out their insurance
Data analysis: Young adults are markedly more likely to want their Alexa to share information so they can have personalised home (70%), pet (68%) and car insurance (67%) than older adults (50%, 43% and 48% respectively), a survey has shown.
Ardonagh and Markerstudy’s £1.2bn merger confirmed
The Ardonagh Group and Markerstudy Group have agreed a merger between Markerstudy and Atlanta Group, Ardonagh’s personal lines broking business, to create a “major new player” in the UK insurance market.
Heather Smith’s exit sees further changes at top of Allianz
Allianz has named Henry Topham as the new managing director of its UK retail business, following the news Heather Smith will be leaving to head up Axa Health.
Motor and building insurance complaints hit five-year high
Quarterly data from the Financial Ombudsman Service shows that complaints relating to motor and buildings insurance have reached their highest level in five years
Travel insurance predicted to lead growth in personal lines
Data from Smart Money People has revealed that travel insurance is set to grow by 15% over the next year, the highest growth projection of the top ten insurance policies.
PI discount rate consultation closes ahead of 2024 review
The Ministry of Justice’s consultation into establishing a dual/multiple PI discount rate closed yesterday, with the final decision to be made in July 2024.
#29 ASR
Netherlands-domiciled ASR is in 29th place in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 3.7% average premium growth for the year.
#30 Provinzial
Germany-domiciled Provinzial slips from 28th place in last year’s list to 30th in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 4.6% average premium growth for the year.
Top 30 European Insurers revealed
Allianz and Axa have held on to the top two spots on Insurance Post's Top 30 European Insurers 2023 list and accounted for slightly under a quarter of total GWP in the dataset, which was produced by AM Best.
#27 Crédit Mutuel
France-domiciled Crédit Mutuel is in 27th place in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 10.9% average premium growth for the year.
#26 Catalana Occidente
Spain-domiciled Catalana Occidente is in 26th place in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 10.9% average premium growth for the year.
#25 Ageas
Belgium-domiciled Ageas is in 24th place in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 1.1% average premium growth for the year.
#22 Huk-Coburg
Germany-domiciled Huk-Coburg is in 22nd place in this year’s Insurance Post Top 30 European Insurers 2023 List for the second year in a row after reporting 3.7% average premium growth for the year.
#19 Helvetia
Switzerland-domiciled Helvetia managed to stay in 19th place in this year’s Insurance Post’s Top 30 European Insurers 2023 List by achieving 10% average premium growth for the year.
#18 Groupama
France-domiciled Groupama fell from 16th place last year to 18th place on this year’s Insurance Post Top 30 European Insurers List after reporting only 6.3% average premium growth for the year.
#17 Sampo
Finland-domiciled Sampo fell from 15th place last year to 17th place on this year’s Insurance Post Top 30 European Insurers List after reporting only 6.4% average premium growth for the year.
#16 Unipol
Italy-domiciled Unipol fell from 14th place last year to 16th place on this year’s Insurance Post Top 30 European Insurers List after reporting only 3.5% average premium growth for the year.
#15 Aéma
France-domiciled Aema Group climbed from 18th on last year’s list to 15th place on this year’s Insurance Post Top 30 European Insurers List after achieving 24.9% average premium growth for the year.