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£77m Covid impact drives RSA UK loss
Scott Egan, RSA’s UK and international CEO, has said the division delivered a “strong” performance in 2020, despite the impact of Covid-19 bringing a halt to its return to profitability in the UK.
For the record: Aviva disposals, Beazley creates digital unit, Fenchurch & Partners launches, new D&O MGA Rising Edge and Zurich invests in insurtech
Post wraps up the major insurance deals, launches and investments of the week
Blog: Changing attitudes in consumer travel
Kelly Ward, sales, marketing and distribution director at Axa Partners UK & Ireland, considers Covid-19 driven changes in the travel industry – and the future of travel insurance.
Briefing: Ex-Aviva CEO Mark Wilson's insurtech electric dreams
Mark Wilson might have not quite managed to turn Aviva into the 320 year old disruptor he had hoped, but Post content director Jonathan Swift reasons he might have more luck scratching that digital itch with his latest venture Abacai, even in a soft…
Former Aviva CEO Mark Wilson joins forces with Sun Capital to lead motor insurtech Abacai
Sun Capital and ex-Aviva CEO Mark Wilson are targeting a share of the £16bn UK motor insurance market with venture Abacai, building on Complete Cover Group.
Fully Comp: Episode 13 - For all the hype, is there tangible evidence UBI, telematics and on-demand motor have seen lift off during the pandemic?
For the thirteenth episode of Post’s video series Fully Comp we gathered a group of experts together to consider if the Covid-19 pandemic has had any impact on the consumption of non-traditional annual motor insurance products.
FCA mulls timeline for dual pricing fix following consultation
The Financial Conduct Authority is reconsidering the implementation period for its dual pricing remedy proposals following consultation with the industry.
Blog: Motor repairs - how are insurers responding to consumer behaviour?
When it comes to motor insurance offering the consumer choice brings a host of benefits and overall improves customer satisfaction. Mia Constable, head of business development at E2E Total Loss Vehicle Management, asks how can consumers be offered more…
FCA calls for even more progress from insurers as number of vulnerable customers reaches 27.7 million
The Financial Conduct Authority has revealed there was a 15% increase in the number of customers with vulnerable characteristics between March and October last year.
Helping leaseholders caught up in the cladding crisis in insurance sector's 'reputational interests', says Shadow Economic Secretary
The insurance industry should work to help leaseholders affected by the cladding crisis in order to service not only the national interest but its reputational interests, attendees at the Association of British Insurers’ annual conference have heard.
Exclusions will widen the expectation gap, FOS chief warns insurers
Financial Ombudsman Service CEO Caroline Wayman has cautioned insurers that adding exclusions to policies which have generated claims during the pandemic would widen the gap between policyholder expectations and the reality of their cover.
Vital that valid BI claims are settled quickly after test case, ABI chair Jon Dye tells insurers
The dispute over business interruption cover has undoubtedly been difficult and most people will have only seen one set of headlines about the insurance industry during the pandemic, Allianz UK CEO and Association of British Insurers chair Jon Dye told…
Advertising feature: The Electric Revolution is closer than you think – are you ready?
The widespread adoption of electic vehicles is down to factors such as lifestyle changes brought on by the Covid-19 pandemic and people becoming more environmentally conscious writes Steve Molloy, director of commercial sales and EV strategy at AX.
UK government plans to swerve EU Vnuk law
The British government is planning to avoid the European Union’s controversial Vnuk law, which requires compulsory insurance for vehicles including golf buggies and mobility scooters even on private land.
Intelligence: Operational resilience - Regulators raise the bar for crisis response
After drawn-out consultations financial regulators will soon lay out what they expect from firms in terms of operational resilience. Harry Curtis investigates.
Allianz BI claims came from broker wordings says CEO Jon Dye as insurer reveals 2020 results
Allianz was hit by £175m of UK Covid-19 business interruption claims in 2020, net of reinsurance, the insurer has said, as LV confirmed 300 redundancies from its Legal & General integration.
For the Record: Ardonagh’s Australian M&A push; Axa in Co-op Bank tie-up; Rock diversifies with new MGA and SSP takeover gets FCA greenlight
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Record £10.5bn of M&A in 2020 and smaller deals on the up, says Imas
There was a record £10.5bn of UK insurance distribution mergers and acquisitions in 2020, according to research by Imas, Post can reveal.
GRP strikes biggest deal since Searchlight investment with Marsh Networks buy
Global Risk Partners has agreed to buy Marsh’s UK networks for an undisclosed sum in a deal expected to close next quarter.
UK Insurer Hot Seat 100: who has been at the top the longest?
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.
Carrot’s Norrie Erwin on the opportunity for telematics in claims
Telematics-based insurance has been a great British success story for young drivers, but it has failed to enthuse the mass market, says Norrie Erwin managing director of Carrot.
Kingfisher refutes 'bad faith' dismissals accusation in High Court case
Kingfisher has responded to claims by the sellers of Fresh Insurance that it exited key directors in “bad faith” in a further filing at the High Court.
Intelligence: Performance reviews
A few years ago Net Promoter Scores were a buzzword in insurance feedback. However, after a year where the sector has suffered repeatedly from bad headlines over business interruption and Covid-19 payouts, Post asks if firms still want to hear about how…
Ex-FCA boss Chris Woolard joins EY
Former interim CEO of the Financial Conduct Authority Chris Woolard will join EY this April to lead its Europe, Middle East, India and Africa financial services regulatory capabilities and chair the EY global financial services regulatory network, the…