United Kingdom (UK)
Sciemus to rebrand after securing investing partnership
Specialty Lloyd’s managing general agent Sciemus is set to rebrand after securing an investing partnership with HSCM Bermuda.
Beale calls for ‘urgent’ flood insurance reform
Hurricane Harvey and Irma both highlight the problem of inadequate flood insurance and need for reform in the United States, Inga Beale has said.
Lloyd’s catastrophe exposure driving ratings downgrade
The current catastrophe exposure of Lloyd’s has left the market vulnerable, Fitch Ratings has said.
ILS reform could be 'too little too late' for UK, says AM Best
The London Market may have missed its chance to become a centre for insurance-linked securities despite a working structure expected in the next few weeks, said AM Best’s head of Europe.
150 jobs at risk in L&G's Hove office
As many as 150 jobs are reportedly at risk as Legal & General plans to move its GI unit from Hove to Birmingham.
Moorhouse appoints Asif John as group director of pricing
Moorhouse Group, which consists of online brokers Construct a Quote, Black & White and Xbroker, has hired Asif John as group director of pricing, actuarial and analytics.
Ogden decision to curb reinsurance pricing rises
Reinsurance pricing will only increase modestly at January renewals as a result of the government’s Ogden announcement.
Lloyd's report pegs Miami windstorm at $131bn as Irma heads for Florida
Hurricane Irma could see industry property losses of $131bn, according Lloyd's realistic disaster scenario analysis.
Government stands by level of broker regulation
The government has stood by the level of regulation levied on non-life insurance brokers in the UK.
Penny James succeeds John Reizenstein as Direct Line CFO
Direct Line has appointed Penny James to succeed John Reizenstein as chief financial officer.
This Month in Post: Discount, diversity and data
There was some good news and some bad news this week for the insurance industry.
LV commits to passing all Ogden savings onto motorists
LV has become the first insurer to commit to passing 100% of savings from the government’s Ogden legislation to motorists.
Aviva could see boost of up to £200m from Ogden discount rate reform
Aviva stands to make a one off gain of between £100m and £200m as a result of any future discount rate revision to 0-1%.
Legal & General partners with SSP to provide quoting platform for home insurance
Legal & General has partnered with SSP to develop a quoting process which uses big data to provide customers with a home insurance quote in 90 seconds.
Connected and autonomous vehicle testing hub receives £100m government investment
A co-ordination hub for connected autonomous vehicle testing has gained £100m in financial backing from the government's Connected Autonomous Vehicle investment programme in order to develop technology.
ERS launches agriculture operations unit
ERS has launched a 27-strong agriculture operations team as a result of increased demand.
Insurers rejoice at new Ogden formula on Twitter
Insurers took to Twitter to express their satisfaction with the new mode of calculation for the discount rate, which the government unveiled today.
Marsh restructures global management
Broking giant Marsh has unveiled a new global management structure, including new appointments to its executive management team as part of a global management shake-up, effective immediately.
Darag makes string of senior appointments
German run-off insurance company Darag has made a string of senior appointments.
Neos to provide home insurance quotes in under 30 seconds
Insurtech start-up Neos has introduced a propositions which it claims will provide customers with a home insurance quote in under 30 seconds.
Fintech continues to grow despite worries over attracting talent
Half of UK fintech firms are expecting revenue growth to more than double in the next year, with some expecting their next fund raising round to exceed £2.5bn.
Live blog: Ogden discount rate reform
Follow reactions to the draft reform to the Ogden discount rate reform in our live blog.
Markel to acquire ECIC
Specialist insurer, Markel International has acquired EC Insurance Company.
Analysis: Going fishing: What is fuelling consolidation in the loss adjusting sector?
The loss adjusting space continues to shrink, with three major acquisitions of loss adjusting firms in the first two weeks of last month.