UK
Bupa first to sign up to business diversity pledge
David Hynam, CEO of Bupa Global & UK, has become the first signatory of a government-backed pledge designed to improve diversity within UK businesses.
Tradewise Insurance Company seeking sale in run-off period
Gibraltar-based unrated motor insurer Tradewise Insurance Company pursued a sale ahead of going into run-off and continues to explore its options, executive chairman Marcus Killick confirmed to Post.
This week: Running off
Though a new decade and the opportunity for new beginnings are now firmly in view, this week proved that 2019 still has some endings to get out of the way first.
Ardonagh explains carrier cull and alternative capital plans in APS roll out
Ardonagh has cut its carrier relationships from 940 to 700 in the past six months with an eventual target of below 200, Paul Dilley, CEO of Geo Underwriting told Post.
Tradewise secures £55m of motor trade capacity from Berkshire Hathaway
UK managing general agent Tradewise Insurance Services has sourced £55m of capacity from Berkshire Hathaway via Faraday in London to continue writing motor trade business, as Tradewise Insurance Company goes into run-off.
Tradewise Insurance Company goes into run-off
Gibraltar-based motor insurer Tradewise Insurance Company is going into run-off and will stop writing business after 31 December.
MS Amlin puts four lines into run-off
MS Amlin will stop writing corporate property, real estate, casualty and package binders through its UK property and casualty business on 31 January 2020, the insurer has confirmed.
Macquarie invests in Watchstone
Macquarie Group now holds 5.32% of Watchstone Group, according to a stock exchange filing.
Clear would be 'chuffed' and 'interested' in Brokerbility deal
Clear CEO Howard Lickens has admitted the broker would be interested in a deal with Brokerbility as speculation swirls that the firm could look to undertake a form of reverse takeover of the network.
Blog: Cuvva-ing all the bases with statistics
Post senior reporter Emmanuel Kenning wonders about Cuvva’s 3% claim.
Analysis: Brokers urged to keep on top of SMCR as rules kick in
The Senior Managers and Certification Regime regulation focused on greater personal responsibility has come into force for senior broker managers, and businesses have a year to train all relevant staff on conduct rules.
Willis IRM buys Hale Kavanagh in Leeds
Belfast-based Willis Insurance and Risk Management has bought Leeds firm Hale Kavanagh Insurance Brokers for an undisclosed sum.
ABI opts against legal challenge to Ogden rate decision
The Association of British Insurers will not be proceeding with a legal challenge to the “misguided and incorrect” decision to set the Ogden personal injury discount rate at -0.25%, the organisation has confirmed.
This Week: Getting stuff done
Helios has (almost) done his work and got the week done. Probably because he has an oven ready plan. To leave the working week and enter the weekend.
Eldon rebrands as Somerset Bridge
Arron Banks’ Eldon Insurance Services has rebranded as Somerset Bridge Insurance Services after receiving approval from members and the Financial Conduct Authority.
No sales talks at Kingsbridge, says CEO
Kingsbridge is “not currently in a sales process”, CEO James Twining has confirmed to Post.
Trade Voice: The ABI's James Dalton on why GI pricing will be a priority in 2020
James Dalton, director of general insurance policy at the Association of British Insurers, reveals what the trade body will be focusing on next year and why.
Searchlight trained on GRP as broker eyes PE deal
Global Risk Partners is in discussion with three private equity firms including Searchlight Capital Partners about taking a majority holding in the consolidator, Post can reveal.
German insurtech Wefox targets UK launch in 2020 after $110m fundraise
Berlin-based insurtech Wefox will be opening an innovation hub in London before the end of the second quarter next year, a spokesperson confirmed to Post after the business raised a further $110m (£83.7m) in its latest funding round.
Loyalty a top priority among consumers when choosing an insurer
The biggest opportunity for insurers to improve their performance is in relation to customer loyalty, which ranked above price as a decision driver when it comes to picking a provider, according to research by the Chartered Insurance Institute.
German insurtech Getsafe plots UK launch
Heidelberg-headquartered Getsafe is planning to launch a contents and liability product in the UK in the first quarter of 2020.
Interview: William Stovin, Markel International
As Markel International gears up for more growth across its national markets business and looks to build on its presence in Europe, Jen Frost spoke to Markel International president William Stovin about the history of the business and why Brexit has…
Marsh Commercial unveils locations for five 'Enterprise Centres of Excellence'
Marsh Commercial has confirmed that Bristol, Glasgow, Harrogate, Leeds, and Worcester will host its previously announced Enterprise Centres of Excellence focused on SME business.
Davies Group makes key appointments
Davies Group has made two senior appointments, as it revealed a jump in Ebitda and revenue for the year ended 30 June 2019.