Gibraltar
Zego co-founder Harry Franks departs insurtech
Zego co-founder and former CEO Harry Franks has stepped away from the insurtech, Insurance Post can reveal.
Gillighan departs Somerset Bridge and Southern Rock
Chris Gillighan, the managing director of Somerset Bridge’s managing general agent and Southern Rock’s in-house insurer, is understood to have left both businesses.
Analysis: Unstable firms are falling off the Rock
Post looks at a series of insurer failures in Gibraltar – and asks what the future will look like for existing and new entrants.
Briefing: Biba and Markerstudy - a litmus test as to why it is good to bury beef and move on
Katy Perry and Taylor Swift, Drake and Meek Mill, and now Markerstudy and the British Insurance Brokers' Association. Jonathan Swift looks at why this latest reconciliation should make the 2022 Biba Conference an even more highly anticipated event than…
MCE CEO Edwards pledges legal action against Gibraltar regulator
MCE Insurance CEO Julian Edwards has pledged legal action against the Gibraltar Financial Services Commission following the appointment of administrators at MCE’s Gibraltar-based insurer.
Gibraltar regulator denies accusations made against it by MCE
The Gibraltar Financial Services Commission has denied accusations made against it by MCE Insurance earlier this week in the wake of MCE’s Gibraltar-based insurer being put into administration.
MCE claims recovery proposals for Gibraltar insurer were declined by regulator
MCE Insurance has alleged that it tabled proposals to “immediately meet any shortfall” in the capital requirements of its Gibraltar-based insurer but these were declined by the Gibraltar Financial Services Commission ahead of the provider's collapse last…
Mulsanne legal claim a bid to 'stifle Marshmallow at birth' argues insurtech in court face off
Marshmallow and Mulsanne's legal battle began this week, with the parties facing off in a London court.
Marshmallow accused of sharing 'personal data' with reinsurers in Mulsanne court battle
Mulsanne and Marshmallow took to a London court this week to thrash out allegations around contract breaches and misuse of confidential information.
FSCS general insurance compensation falls as shadow of Enterprise's collapse recedes
The cost of compensating customers of failed general insurance companies through the Financial Services Compensation Scheme has fallen for a second year running, with both the scheme’s GI provision and distribution classes seeing reduced payouts year-on…
Marshmallow denies trade secrets theft and refutes Confused data rating engine claim
In an ongoing legal battle Marshmallow has hit back in its defence document against Mulsanne, denying that it used Mulsanne’s “confidential information” to build its underwriter’s ratings engine and rebuffing suggestions that its underwriting system was…
IPO inevitable for 'reluctant unicorn' Zego: CEO Sten Saar
Zego, now valued at $1.1bn (£792m), has become the UK's first insurtech 'unicorn' with an initial public offering "inevitable" but not on the immediate horizon, the insurtech's CEO and co-founder Sten Saar told Post.
Gibraltar-based Prometheus Insurance enters administration
Gibraltar-based Prometheus Insurance Company, formerly trading as Tradewise Insurance Company, has entered administration.
Loss-making Markerstudy sniffing out investors as loan discussions continue post-deadline
Managing general agent Markerstudy made a loss in 2019, with discussions ongoing around its near £200m debt to Qatar Re.
Failed Elite ATE policies disclaimed
The administrators of Elite Insurance have disclaimed all but two after the event insurance policies underwritten by the insurer.
Intelligence: Captives - Risk appetite shift threatens change in composite market
As the spectre of a hard market looms and captive insurance options look more attractive, Post investigates the impact this will have on the commercial insurance market, particularly if the hard cycle is prolonged and the corporate appetite to retain and…
Robus buy adds alternative capital 'string to the bow' of Geo
Ardonagh-owned Geo has bought Guernsey-headquartered insurance management, fiduciary and financial advisory group Robus for an undisclosed sum.
Enterprise faces £31m claims hit from Icebreaker tax avoidance scheme used by Take That
The liquidators of Gibraltar insurer Enterprise have predicted a £31m claims hit from tax avoidance scheme Icebreaker used by Take That and other wealthy creative industries professionals, Post can reveal.
Interview: Michael Lee, First Central
A year into his role and Michael Lee, CEO of First Central, explains to Jen Frost what he believes are the three elements needed to be successful in motor insurance
Complete Cover deal saw £108.7m written off
The net liability position of Complete Cover’s ultimate holding company Key Topco improved from a deficit of £93.4m at the end of 2018 to just £1.7m by the end of March 2020 after the takeover by Sun Capital Partners at the start of this year.
Sun Capital injected £7m into Mulsanne as SCR fell below 100%
The new backers of Mulsanne Insurance Company had to invest £7m into the Gibraltar-based underwriter this April to meet solvency capital requirements.