United Kingdom (UK)
Hiscox posts H1 profit of $168m, despite higher volume of claims
Hiscox has reported a profit before tax of $168m for the first quarter of 2019, up from a profit of $162.7m on the same period last year, despite a higher volume of claims.
Aston Lark poised for further acquisitions after posting profits in 2018
Aston Lark made a profit during its transformational year.
Insurers warn of rise in motor premiums following the discount rate decision
Government changes to personal injury calculations are set to add to motor insurance costs going forward, insurers have warned.
Analysis: Impact of smart home technology on escape of water claims
In 2018 insurers dealt with 228,000 escape of water claims, at a cost of £617m – an increase from £529m paid out five years ago, according to statistics from the Association of British Insurers. With the rising cost of claims, can technology help reduce…
LV's Clare Lunn appointed to head industry's counter-fraud organisation
Exclusive: Clare Lunn, director of fraud at LV, has been selected as a chair of the the General Insurance Fraud Committee.
Blog: What lies ahead for the future of skills in the insurance industry?
The London insurance market is facing a huge skills shortage as insurance firms struggle to compete for talent. While a huge number of baby boomers are retiring from the sector and taking those long-held skills with them, there is also a distinct lack of…
BLM wins fundamental dishonesty case against opportunistic fraudster
BLM has won a fundamental dishonesty case against a fraudster who claimed for whiplash from an accident where she was not in the vehicle.
JLT’s Tim Chadwick to join PIB as CRO
PIB has appointed Tim Chadwick as chief risk officer, following the departure of Jon Stanley.
Go Compare profits continue to fall
Go Compare parent, Goco Group, saw its pre-tax profits fall 52% year-on-year to £7.6m, as revenues from its core price comparison site also slumped.
More than half of global insurtech investment in Q2 came from four deals
Global insurtech investment hit $1.41bn in Q2 2019, with more than half of this coming from four transactions.
Date set for Covéa legal action as Scor CEO hails ‘strong performance’ in H1 2019
Scor’s property and casualty division has seen growth in H1 2019, while legal action against Covéa and its CEO and chairman Thierry Derez will continue in 2020.
Blog: The financial crime insider threat
The insurance industry has woken up to the growing criminal threat. However, Dennis Toomey, global director of counter fraud analytics and operations at BAE Systems, highlights that much investment in this area has focused on the external threat.
Criminal who stole Audatex data ordered to pay £25,500
Mustafa Kasim, who was sentenced to six months in prison in November for stealing data from Audatex, has now been ordered to pay a confiscation order of £25,500.
FCA flexes muscles over unauthorised claims firm
The Financial Conduct Authority has named a personal injury claims management company as operating without authorisation.
Arron Banks’ Eldon adds appointed representative
Exclusive: Eldon Insurance has made recently incorporated company Lysander Legal Protection an appointed representative.
Confused appoints ex-Wonga exec as COO
Confused has hired Stephen Dukes, former boss at the Commuter Club and Wonga, as its chief operating officer.
My Other Life: Yvonne Baverstock, Pyrenean Mountain dog breeder
When not working as account executive at Clear Insurance Management, Yvonne Baverstock breeds and judges Pyrenean Mountain Dogs.
Investment returns drive Beazley half-year profit as it strengthens cat reserves
Beazley saw double-digital premium growth in the first six months of the year, posting a pre-tax profit of $166.4m (£133.9m) largely driven by “exceptional” investment returns.
FCA announces crackdown over treatment of vulnerable customers
The regulator has vowed to “take action” against insurers that do not treat vulnerable customers fairly.
Blog: Home insurance - the rise of non-standard
The way we live continues to change. The nature of risk evolves. And so does the way we understand the UK home insurance market. Mark Eastham, CEO, Avantia argues non-standard is no longer exceptional – and that has significant implications both for…
Zurich sees 25% jump in female job applicants
Zurich UK has seen a 25% increase in female applicants since embarking on a part-time jobs initiative.
GRP buys Lancashire-based broker
Lancashire-based broker 3XD has hailed its “growth prospects” after being bought by consolidator GRP.
Analysis: Mitigating the risk of sexual harassment in the workplace
Over the past two years, awareness of how prevalent sexual harassment is in the workplace has reached perhaps unprecedented heights.
30,000 Alpha policyholders to be moved to new insurer
More than 30,000 property policyholders affected by the collapse of Alpha have been thrown a lifeline in the form of alternative cover arranged by the Financial Services Compensation Scheme.