Gibraltar
This week: Rolling in it
Thursday seemed an appropriate day for insurtech Hippo to announce the outcome of its latest funding round – with temperatures reaching 38°C in places, the urge to emulate the mud-wallowing tendencies of its namesake animal became more and more tempting.
Gibraltar regulator on hunt for CEO successor
Samantha Barrass will step down when her second term as CEO of the Gibraltar Financial Services Commission ends in August 2020,
Lamp customers see first FSCS pay outs
The Financial Services Compensation Scheme has today made its first payments to policyholders affected by the collapse of Lamp Insurance.
CRL identifes potential alternative insurer to take on Alpha policyholders after missed deadline
BCR Legal Group appointed representative CRL failed to find an insurer to take on its Alpha policies by the May deadline set by the Financial Services Compensation Scheme, but it has been given more time as the firm has a replacement in its sights.
Elite shoots for solvent scheme to avoid liquidation
Elite Insurance has proposed a solvent scheme of arrangement, in order to avoid a liquidator being appointed.
Claims manager appointed to handle Lamp Insurance claims
Quest Group has been appointed to manage claims for policyholders of failed Lamp Insurance.
FSCS will assist policyholders following Lamp collapse
The Financial Services Compensation Scheme will protect customers of Lamp Insurance following the unrated insurer’s demise.
Lamp enters liquidation following court hearing
Insolvent unrated insurer Lamp has been placed into liquidation following a court hearing today.
MGA looks to relocate 13,500 customers following Lamp collapse
Exclusive: Now 4 Cover is looking to relocate policies of 13,500 of its customers, following Lamp’s descent into insolvency.
Analysis: Collapse of Lamp highlights lessons still to be learned
Gibraltarian insurer Lamp is the fifth unrated carrier to fall over in the past three years. The insolvency once again demonstrates the risks brokers take when they use unrated insurers, industry figures have warned.
Enterprise sees claims costs rocket from Ogden impact
Enterprise could pay out £101.4m more in UK claims than its administrators had predicted, largely owing to the Ogden rate hit on its motor book.
Interview: Janet Connor, The AA
A lot has changed at the AA in the five years since Janet Connor, now director of insurance, joined the organisation. She explains to Jonathan Swift how an investment in data and technology – alongside the relaunch of its insurance company and board…
Gable CEO Dewsall withheld 'critical' information in administration of Hogarth Underwriting
Exclusive: Gable CEO William Dewsall ignored “numerous requests” from administrators of his underwriting vehicle Hogarth Underwriting.
Hastings profit sees steady growth
Hastings saw profit after tax of £130.6m in 2018, an increase of 3% from £126.7m in 2017.
Horizon Insurance declared in default
Gibraltar-based Horizon Insurance has been declared in default by the Financial Services Compensation Scheme.
Guevara founder Anderson: incumbent insurers complicit in stalling true customer led-disruption
Despite the hype around insurtech, the barriers to entry remain high, not least because incumbents have reputational concerns that are hampering true customer-led disruption. Indeed, the likes of Lemonade have had to water down their original vision to…
This month in Post: lessons learned, space travel and why every insurer wants a time machine
Following the collapse of Danish insurer Alpha hundreds of black cab drivers were left unable to work and without any insurance cover. With little communication from the insurer the drivers took matters into their own hands and besieged the offices of a…
Interview: Faizal Karbani, CEO, Insure Halal
Halal Insure has recently launched sharia-compliant household insurance covers. Its CEO Faizal Karbani speaks to David Worsfold about his hopes for takaful insurance in the UK.
Insurance data could have been used in Leave campaign, claims whistleblower
A witness to the parliamentary Fake News Inquiry has raised questions over the use of insurance data in the Leave.EU campaign.
Lloyd’s positive on ILS cover for Central Fund
Capital from Insurance Linked Securities could be used to back the Lloyd’s Central Fund as early as next year, the market’s chief financial officer has said.
Alpha Insurance in liquidation, blames CBL
Alpha Insurance has placed itself into solvent liquidation as a “direct consequence” of the failure of CBL Insurance.
This month in Post: Renewals, rates and redundancies
The year started with an executive merry-go-round but this week proved that less senior people were also liable to redundancy, as it was revealed that a total of 480 jobs are at risk as a result of the LV/Allianz deal.
Armour acquires Elite Insurance
Armour Group has completed its acquisition of Elite Insurance.
Analysis: Markerstudy's turbulent year
Last month, Qatar Re signed a deal to buy Markerstudy’s Gibraltar-based insurance companies after year-long rumours of a sale had only started to die down