United Kingdom (UK)
Broker leaves SSP for Open GI
Islands Insurance Group has left SSP for rival provider Open GI, after a fresh round of outages at the software platform.
PIB capture sees GWP rise to half a billion
PIB Group has acquired commercial broker Wilby, the group’s 14th acquisition in 21 months.
Insurers still failing to meet FCA renewal rules
The Financial Conduct Authority has warned it will take action against general insurers who fail to implement rules introduced to encourage shopping around at renewal time.
Top 100 insurtech firms 2018
Over the past four years insurtech has become a very familiar word and start-ups are launching every day to target sectors underserved by traditional insurance. Post, in association with Tällt Ventures, indexes those that have the most potential to…
Brokers informed: W&I for bricks and mortar
Warranty and indemnity insurance has seen significant growth in the real estate sector over the last few years. And, with the cover offering significant advantages to those involved in real estate deals, many expect it to become a standard part of any…
Aviva's Rob Townend on making sure policyholders benefit from whiplash reform
The whiplash reform and discount rate change can be positive for customers, but Rob Townend, managing director at Aviva UK general insurance, warns the challenge for the industry will be to demonstrate these measures have indeed benefitted policyholders.
Blog: How to stop silicosis becoming the new asbestos
Silicosis could result in claims if employers don't manage risks correctly, explains Andy Miller, technical risk control manager at Allianz UK, wondering whether a tougher approach might be needed.
This week in Post: Caution, doubt and selling out
This week in Post, there was news of sales, incompetence and unprecedented losses.
Magenta takes minority stake in Eaton Gate
SME growth investor Magenta Partners has taken a minority stake in Eaton Gate Holdings and Vigilis Holdings, collectively known as EGV.
Integro snaps up Lloyd’s broker Tysers
Private equity-backed broker Integro has acquired specialist Lloyd’s broker Tysers.
Blog: What the Oak acquisition means for RSA, Zurich and the wider market
Jonathan Swift looks at whether RSA selling Oak Underwriting to Zurich is going to trigger a bolt-on bonanza - and if it really equates to Manchester United selling Carlos Tevez to Manchester City
Blog: Rehab is the GDPR exposure insurers weren’t expecting
Insurers need to make sure their rehabilitation providers comply with the General Data Protection Regulation. Anthony Eeles, chief digital and information officer at HCML, shares his checklist to reduce risks of a £20m fine.
Analysis: Global run-off market remains buoyant
The perfect storm of conditions that has allowed the legacy sector to boom over the past couple of years looks set to continue throughout 2018 as capital continues to flow into the market, fuelling a pipeline of deals.
The Hanover eyes Chaucer sale
The Hanover is considering a sale of Chaucer, its Lloyd’s specialty insurance business.
Ombudsman complaints data overshadowed by TV investigation
A recent investigation that exposed the undertraining of staff at the Financial Ombudsman Service has cast doubt over a report into the UK’s most complained about insurers.
Minor discount rate revision could lead to £44m bounce for LV
LV could make a profit of £44m if the discount rate was revised even fractionally, the company said.
LV to remain ‘vigilant’ on home business ahead of Allianz deal
LV will take a cautious approach to the home market following the acquisition of Allianz’s personal lines portfolio.
LV GI sees huge profit rise from underwriting discipline
LV’s general insurance business saw a pre-tax profit of £164m in 2017, up from a loss of £30m the previous year.
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.