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ERS posts record profit under Aquiline ownership of £13.9m
ERS has recorded profit of £13.9m for 2019, its best performance since being bought by Aquiline in 2013.
Admiral UK insurance CEO Cristina Nestares levels criticism at gender ban
The gender ban in insurance pricing was not approached in the right way and shows why ratings factors should be linked to actual risk, Admiral UK insurance CEO Cristina Nestares has argued.
Blog: How automating arbitration can reduce insurance claims costs and complexity
Recent research from the Association of British Insurers found compensators pay out millions every day on repairs and bodily injury claims in the UK but according to Olly Savage, Minsitry of Justice data reveals they’re handling high volumes of injury…
Pool Re development a 'massive change': Biba
Graeme Trudgill, executive director at the British Insurance Brokers’ Association, has pledged to support Pool Re during consultations about the future of the mutual reinsurer.
This week: Ups and downs
It's been a swings and roundabouts kind of week.
Q&A: Forum of Insurance Lawyers CEO Laurence Besemer
In 2009 Laurence Besemer became the first CEO of the Forum of Insurance Lawyers, the UK trade body for defendant law firms. A decade into the role he spoke to Jonathan Swift about its commitment to its members, a successful 2019 and why it is definitely…
Analysis: Little leeway from five month delay to whiplash portal
The Ministry of Justice has addressed a “loophole” meaning children and vulnerable adults will be able to recoup representation costs when the delayed whiplash portal rolls out, but questions linger over its start date, pressure on courts and claimants…
Hastings sees profit slide 42%
Hastings’ share price took a tumble as it revealed operating profit fell 42% in a year that the insurer was hit by the Ogden rate and claims inflation.
Egan hails UK underwriting profit at RSA
UK & International CEO at RSA, Scott Egan, has hailed the provider’s underwriting profit for 2019, its first since 2016.
Hastings looks to suppliers and fraud detection to staunch claims inflation
Hastings is hoping that investment in its anti-fraud capabilities and supplier partnerships secured in the tail-end of last year will mitigate the impact of claims inflation on its bottom line.
RSA moves back to underwriting profit in UK
RSA has delivered an underwriting profit of £3m in the UK for 2019, reversing the underwriting loss of £93m the year before.
Roundtable: Getting the board to ‘byte’
Interest and enthusiasm at board level for technology data-driven innovation has never been higher. At a Post interactive roundtable in association with Crowe, participants analysed how to generate tangible business benefits from a technical and…
Tractable targets SE Asia and mulls property diversification after $25m raise
Insurtech Tractable is targeting new clients in South East Asia, the Middle East and Latin America after unveiling a $25m (£19.2m) Series C investment, led by Georgian Partners
Direct Line to cut 800 jobs
Direct Line Group is cutting 800 jobs over the next two years, the insurer has confirmed.
Motor Mouth Podcast 5: The future of mobility and the impact for motor insurers
In the next in our series of podcasts with Motor Insurance World speakers, Alex Lewis-Jones, research manager at Delta EE, is interviewed by Post’s editor Stephanie Denton, on alternative modes of travel, the challenges and hurdles to our transport and…
Kennedys spins out inhouse innovation team as stand-alone business
Law firm Kennedys has spun out part of its innovation function as a separate wholly-owned limited company in order to speed up product development and attract staff more suited to its technology/software focus.
Blog: The hardening high-net-worth market
Insurers are tightening up high-net-worth policies. Mark Pierce, operations director at Criterion, asks what this means for customers.
FCA to make 'direct contact' with individuals whose data was published online in error
The Financial Conduct Authority has confirmed it will be contacting individuals after their confidential information was published on its website by mistake.
UKGI CEOs want to fix the loyalty penalty: Penny James
General insurance CEOs want to tackle dual pricing and support further regulatory intervention, a conference heard.
ABI calls for annual government flood defence spending to rise to £1.2bn
Jon Dye, the chair of the Association of British Insurers, has called for government flood defence investment to rise to at least £1.2bn a year.
Deliveroo investors back £3.3m raise for ex-Aviva innovation head's gig economy insurtech
Insurtech start-up Collective Benefits has closed a £3.3m seed funding round involving Stride VC alongside existing investors Delin Ventures and Insurtech Gateway.
Flood impact driving on claims surge after storms Dennis and Ciara
The "significant" impact of river flooding is expected to persist over the next few days, the Environment Agency confirmed, as insurers continue to receive a surge of claims on the back of storms Dennis and Ciara.
Allianz UK operating profit drop driven by 'large number of factors': Jon Dye
There was “a very large number of factors” behind the significant drop in operating profit at Allianz UK in 2019, according to CEO Jon Dye.
Operating profit down one third at Allianz UK
Allianz UK has reported profit of £138.1m for 2019 supported by investment gains as operating profit fell.