United Kingdom (UK)
Zurich to buy Oak Underwriting from RSA
Zurich has reached an agreement to acquire Oak Underwriting from RSA Insurance for an undisclosed sum.
Flood Re to freeze premiums for first time
Flood Re is set to freeze the premiums it charges to insurers for the first time.
Blog: The five peril categories to better manage cyber risks
There needs to be a significant shift in how cyber risk is understood and managed to help boards have a more accurate view of potential losses, as well as opportunities. Robert Vescio, chief analytics officer, SSIC, explains how using five peril…
City watchdog to probe Aviva preference shares plan
The Financial Conduct Authority has launched a review into whether Aviva broke market abuse regulations following plans to cancel its high yielding preference shares.
Aviva's Phil Bayles reveals plans for UK GI growth
Aviva started the year in its healthiest shape in recent memory, shaking off the impact of the Ogden rate reform to return to profit.
Roundtable: Using data to defend your territory
Insurers have been exploiting data for decades to underwrite risks. Could they use that know-how to market their products better - and stop tech giants from taking their customers?
Wilson sees earnings slashed despite Aviva profit
Aviva CEO Mark Wilson has seen total earnings fall despite the company returning to profit this year, continuing a trend of ongoing executive pay cuts.
Analysis: What happened to CBL Insurance?
Last month once again saw a passported insurer placed into liquidation, with the collapse of CBL causing ripples throughout Europe
Grenfell insurer almost doubles premium following ‘unprecedented loss'
A Spanish insurer that covers leaseholder building insurance for the Royal Borough of Kensington and Chelsea will raise premiums by 86% as a result of the Grenfell fire.
RSA’s Hester takes home £5m package
RSA CEO Stephen Hester took home a £5m package from the business last year, despite the firm suffering losses last year in the UK.
Trump signs flood programme extension despite veto threat
The National Flood Insurance Programme would be extended to 31 July as part of a $1.3trn federal spending package signed by President Trump on Friday despite threatening to veto the bill earlier the same day.
GDPR: A great catalyst for enhancing customer experience
The General Data Protection Regulation is a tough regulation and with the sheer amount of change it entails, most of the impacted companies are prioritising areas that will be compliant on day one of post-GDPR era. Prakhar Agrawal, assistant vice…
Cloud-based insurtech eyes up US MGA market following €2.2m funding round
Cloud-based insurtech platform Insly has raised €2.2m led by venture capital firms Concentric and Black Pearls.
Gable had 60,000 UK policyholders when it collapsed
More than 60,000 UK policyholders had business with Gable at the time of its collapse, and the UK guarantee scheme has to date paid almost £27m in compensation.
Over half of Lloyd’s MGAs have under resourced teams
The majority of Lloyd’s managing agents are struggling with a lack of resources in their delegated authority teams.
Marsh's White replaces Agnew as LIIBA chair
Roy White, chairman of UK specialties at Marsh, has been named as chair of the London and International Insurance Brokers’ Association.
This week in Post: Why insurers should head to a Maths Jam
This week I attended my first Maths Jam, a gathering of self-confessed maths enthusiasts who get together in a pub and share stuff they like.
Analysis: Passing up on passporting
What next after the UK ruled out maintaining passporting within the European Union?
My Other Life: Stephen Ridley, triathlon competitor
When not busy as lead cyber underwriter at Hiscox UK and Ireland, Stephen Ridley competes in triathlons.
Smart Driver Club in talks with insurers to increase capacity
Smart Driver Club will expand its capacity in order to grow premiums by 200% over the next two years.
Business interruption to fall under terrorism cover
Businesses disrupted by terrorist attacks will soon be able to claim under their insurance policy.
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.
Hiscox's Masojada named PPL chair
Hiscox CEO Bronek Masojada has been named chair of the London market’s electronic placing platform, Placing Platform Limited.
Sabre delivers COR of 68.5% following IPO
Sabre made an underwriting profit of £59m in 2017, with a combined ratio of 68.5%.