United Kingdom (UK)
Private equity firm takes majority stake in Avid
A majority stake in managing general agent Avid has been sold to Beech Tree Private Equity.
Blog: Loyalty penalties - how the industry can be changed by smart technology
Creating and retaining loyal customers is a goldmine for businesses. Customers who champion and support a particular brand not only continually strengthen their own relationship but also act as an advocate to other consumers.
FSCS to compensate 14,000 Alpha policyholders as deal collapses
Some 14,000 policyholders will be compensated by the government guarantee scheme after a plan to replace cover collapsed.
Analysis: Protecting businesses against political risks
The political risk map of Europe is being changed by a toxic combination of uncertainty — both political and economic, populism, geopolitical changes, political violence and technological advances
This week: Think! tech drive
With 50 years of drink driving campaigns drunk driving is shunned by society, but with technology taking over our lives it might be time for a distracted driving campaign to make using hands-free mobile devices on the move as frowned upon.
Blog: Unrated insurers - the risks for UK brokers
Over the years European Union rules on the free movement of capital have had many beneficial effects for the UK economy. However, according to Ashwin Mistry, chairman of Brokerbility, this has also allowed insurers with lower solvency than would be…
QBE International posts loss following £51m Ogden hit
QBE has reported a one-off hit of $62m (£51m) as a result of the change in the Ogden rate in its first half results, without which it would have broken even.
Zurich's John Keppel on environmental sustainability
The sustainability agenda has become the latest ‘trend’ for many businesses, with expectations rising for all industries to showcase how they contribute to our environment and help save our planet writes John Keppel, chief operating officer at Zurich.
Barton steps down as CEO of Wrisk
Niall Barton has stepped down as CEO of insurtech start-up Wrisk to become executive chairman.
Admiral sees £33m Ogden blow in first half
Admiral has reported a hit of £33m from Ogden in the first half of 2019, with a total estimated hit of between £50m and £60m.
Insurers throw support behind calls to ban use of hands free devices while driving
Insurers have welcomed a Parliamentary report calling for tougher restrictions on using hands free mobile devices while driving.
Allianz creates digital claims role
Allianz Insurance has appointed Shelley Hughes to the newly created role of digital claims propositions manager.
Analysis: Investing in a sustainable future
European governments and a wide range of international governmental and non-governmental organisations are looking to big institutional investors to back the development of a sustainable, greener infrastructure. Insurers and pensions funds are top of…
Industry body calls on government to protect vulnerable road users
The Association of Consumer Support Organisations has called on the government to match the Financial Conduct Authority in its approach to all types of vulnerable road user.
The NED Blog: The importance of the audit committee
Challenging the executive management team in terms of the decisions they make is a key responsibility of being a non-executive director. Michael Gaughan explains that one of the aspects of the role is to sit on various Board Committees to look at…
This month in Post: Insurtechs, results and discount rate
London seems strangely quiet in the summer, most people are away on holiday, and out of office replies are basically a given.
Insurtech Pluto teams up with Blink after £300,000 seed raise
Zurich backed start-up Pluto has entered partnership with travel insurtech Blink.
Penny Black's Social World: August 2019
British Insurance Awards, Dive In for diversity and funds from filming
Aviva UK profit dips as result of restructuring but excludes £45m Ogden hit
Aviva’s UK general insurance business delivered an operating profit of £172m for the first half of 2019, though the result excludes the £45m expense of strengthening reserves following last month’s discount rate decision.
Zurich posts a 144% profit increase in H1
Zurich UK GI has seen an increase of 144% in operating profits for the first half of 2019.
Cyber insurance payout rates at 99% but uptake still too low
Cyber insurance payout rates at 99%, but the take-up rate of cyber insurance by businesses in the UK still worryingly low, warn insurers.
Blog: Digital disruption - unlocking opportunities in insurance
Insurance via smartphone with information and advice at their fingertips - that's what customers who buy a policy for the first time expect today. In the long term, the companies that will prevail in the market will be those that best meet these changing…
Analysis: What do recent market exits mean for insurtechs targeting millennials?
Three insurtechs have pulled out of the insurance market so far this year, raising questions around the efficacy of selling insurance to millennials and whether more of these firms will fall.
Trov partners with Lloyds Banking Group to relaunch UK insurance offering
Insurtech Trov has today unveiled a white-label insurtech platform in partnership with Lloyds Banking Group.