United Kingdom (UK)
This month: FCA fines, climate change and shaping company culture
This month marks the start of a new decade. And while a new year might bring optimism for the insurance sector it can also bring with it a host of challenges.
Enough capital in 'asymmetrical' reinsurance market: Guy Carpenter
There was adequate capacity to meet rising demand in the reinsurance sector during the 1 January 2020 renewal period, according to Guy Carpenter, however the results for buyers were mixed depending on a range of factors.
Optio buys Newbridge Risk Partners
Managing general agent Optio has bought specialist political-violence and terrorism MGA Newbridge Risk Partners for an undisclosed sum.
Penny Black's Social World: January 2020
Putting a dent in dementia, ridding rough sleeping and raising money for the Rainbow Trust.
180 years of Post: The magazine that shook up insurance
Post Magazine first appeared on Saturday 25 July 1840, just seven months after the introduction of the Penny Post and was the first publication anywhere in the world to be sent by post – hence its name. It, therefore, ranks among one of the most…
Sure Thing cut losses to £2m in year before sale
Motor broker Sure Thing Insurance Services made a loss of £2.1m in its final year ahead of the sale to Qmetric Group’s Policy Expert last June.
IUA establishes a market group on climate change as part of its business plan
The International Underwriting Association is establishing a new market group to examine the growing impact of climate change policies on a range of insurance activities, including investment, underwriting and risk management, as part of its business…
FCA fines total £392m in 2019
The Financial Conduct Authority levelled £392.3m of fines last year including one in the general insurance sector and its first against a claims management company.
Mike Crane takes new role as Allianz completes purchase of LV GI and L&G
Allianz has completed the purchase of LV general insurance group and the general insurance division of Legal & General, with Mike Crane to head up L&G GI.
Editor's comment: 2020 - A year of celebration
The year 2020 has been a long time coming for some in our family. In 1995 my lovely, tiny and very northern grandmother turned 95 and since then all 12 of her great-grandchildren have been counting down to the day she turns 100 and gets her card from The…
Interview: Claudio Gienal, CEO, Axa
Fifteen months ago Claudio Gienal stepped up to the role of CEO of Axa UK and Ireland, but he’s taken his time to reveal his strategy for the firm. He spoke to Stephanie Denton about why clarity, diversity and adding value really matter to him
Roundtable: What’s next for the modernisation of Lloyd’s and the London market?
Against a background of the winding down of the Target Operating Model and the publication of the Future of Lloyd’s Blueprint, Post, in conjuction with WNS, invited industry experts to discuss the six suggested proposals to modernise the market. Post…
Government flood review should focus on improving under-insurance as insurers will resist floodplain extensions
Insurers will support the government's investigation into insufficient insurance cover in the recent Yorkshire floods but will resist any attempts to widen Flood Re to cover recent floodplain developments, the Association of British Insurers has said.
GRP remains fully focused on 'growth through acquisition' as it reports a loss before tax of £17.9m
In its report and accounts for the financial year ended 31 March 2019, broking group GRP reported a 48% increase in turnover to £112.1m (2017/2018: £75.9m), a rise in operating profit £27.8m (2017-18: £10.2m), and the equivalent EBITDA from the group’s…
Environment Secretary opens review into insurance cover after recent Yorkshire floods
The government is set to investigate the extent to which those affected by the recent flooding in Yorkshire did not have sufficient insurance cover.
Analysis: Revisiting 'Flood Re Plus' for businesses
The idea of a Flood Re Plus scheme has been mooted by Airmic as a solution for those businesses that struggled to obtain flood cover
Blog: Adas data shortage for insurance is about to get sorted
Advanced safety features not only differ in performance and description among different manufacturers, but even among models by the same car manufacturer. Andrew Ballard, senior global product manager at Lexis Nexis Risk Solutions, believes deep data…
Diversity and Inclusion in Insurance Award winner: Co-op Insurance
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we speak to strategic human resources business partner and Inspire working group chair Lisa Hooley, about Co-op Insurance winning the Diversity…
PRA ups Lloyd’s scrutiny after whistleblower system failure
The Prudential Regulation Authority has rolled out special requirements for Lloyd’s after it emerged that the only anonymous whistleblowing channel for the corporation’s staff did not work for over a year.
Diversity and Inclusion in Insurance Award winner: Zurich's Maxine Goddard
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we feature the Race Equality Award winner, the head of sales operations and planning at Zurich Insurance, Maxine Goddard.
Blog: From disruption to collaboration - why insurtechs need to change the narrative in 2020
The coming year is set to be something of a watershed for insurtech. Craig Foster, CEO at Leakbot, believes far from disrupting the insurance sector, insurtech is beginning to define it and providers now have a crucial role.
Diversity and Inclusion in Insurance Award winner: RSA's Lindsey Morgan
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we feature The Mental Health Champion Lindsey Morgan, customer services contact centre leader, RSA.
Diversity and Inclusion in Insurance Award winner; Claims Consortium Group's Debbie Mawer
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we feature The Mental Health Champion Debbie Mawer, director of people and culture at Claims Consortium Group
Diversity and Inclusion in Insurance Award winner: Cura's Kathryn Knowles
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we feature the Intersectionality Champion, Cura managing director Kathryn Knowles