United Kingdom (UK)
M&A insurance growth undeterred by Brexit uncertainty, says JLT
The demand for mergers and acquisitions insurance remains strong despite fears that Brexit uncertainty may hinder growth, according to JLT.
Nat cat losses cost insurers over $2bn in March alone, says Aon
Global natural disaster events could impact insurers with a $2bn (£1.6bn) hit over March, according to impact forecasting from Aon Benfield.
Startup Trov secures $45m for expansion efforts
On-demand insurance provider Trov has secured $45m (£36m) of investment for its global expansion efforts.
Lloyd’s confirms Council and Franchise Board appointments
Lloyd’s has appointed Gregory Fleming and Patricia Jackson to the Council of Lloyd’s and the Franchise Board respectively.
Storm Thomas loss estimated at €213m
Perils has made an initial loss estimate for February’s Storm Thomas of €213m (£182m).
Lloyd’s faces 'structural revolution' as market challenges drive change, says Macquarie
Lloyd’s will undergo a “structural revolution” as digital innovation and alternative capital sources impact the market, according to Macquarie Research.
MS Amlin first to go live as Lloyd’s opens India platform
Lloyd’s has commenced operations in India with MS Amlin the first syndicate to begin underwriting from 1 April.
Blog: The apprenticeship levy might not be as bad as you think
After two years of waiting – and wondering – the apprenticeship levy is upon us. And so, for those of you with an annual paybill of over £3m, you’ll now be paying 0.5% of that to HMRC.
Editor's comment: Feeling lucky?
My Irish grandmother always said bad things come in threes. In the last 18 months the insurance industry has faced bad returns on investments, several increases to insurance premium tax and now the huge change to the Ogden discount rate, so the sector…
Interview: John Nelson, Lloyd’s of London
It is the most prestigious chairmanship in UK insurance. But next month, John Nelson will step down after six years in the role of Lloyd’s chairman. He talks to Ryan Hewlett about steering the market through one of its most turbulent periods
Helios acquires Charmac Underwriting
Helios Underwriting has acquired the Lloyd's limited liability vehicle Charmac Underwriting for £2.24m in cash.
County Group saw 92% profit rise in 2016
The County Group saw a 92% increase in pre-tax profits in 2016, up to £1.1m from £588,041 in the previous year.
Lloyd’s fines Amlin £630,000 for premium trust deed breach
Lloyd’s has fined Amlin Underwriting £630,000 for breaches of the Lloyd’s premium trust deed.
HCML acquires Excell Medical, opens Bristol office
Rehabilitation firm HCML has acquired Excell Medical Reporting, a Medco-registered reporting company, and opened a new office in Bristol.
Reinsurance rate decline slows at April renewals
The 1 April reinsurance renewals saw rate reductions range from flat to mid-single digit reductions, an improvement compared to the low double digit range seen 12 months ago, according to Willis Re.
Open GI completes Biba software house review
Open GI is the first software house to complete an independent review by the British Insurance Brokers’ Association.
LMA leads industry call for data protection law change
The Lloyd’s Market Association has coordinated an industry response calling for the Information Commissioner's Office to change its guidance over incoming data protection rules from the European Union.
Davies makes first acquisition since private equity investment
Davies Group has acquired regulatory services business Cynergie UK, its first deal since gaining a new equity backer.
Ex-Zurich head of sales joins GRP Broking
Chris Sime has left Zurich to head up business development at GRP Broking, the specialist investment vehicle for brokers and managing general agents.
Former Independent staff hit with further delays to redundancy payouts
Former employees of Independent Insurance have been hit with delays to redundancy payouts that were expected to be announced on Friday.
Grahame Chilton: Gallagher growth will be ‘stronger post-Brexit’
Arthur J Gallagher’s long-term growth will be stronger following Britain’s exit from the European Union, Grahame Chilton CEO of Gallagher International said.
This Week in Post: BST, the baby and Brexit
British Summer Time is now allowing us to enjoy more daylight as all our clocks moved forward an hour last weekend. Except, that is, for my 15-month-old daughter’s biological clock. For her bedtime this week, she’s decided to do her own thing. Pretty…
Blog: Engaging tomorrow's customers today
Insurance has traditionally been considered a grudge purchase, driven by the legal requirements for cover and a desire for financial protection. Indeed, 41% of respondents in a Consumer Intelligence poll said they thought of insurance as "a necessary…
Despite the rhetoric, sexism is alive and well in the insurance industry
Working in the insurance industry, you hear a lot of talk about diversifying the workforce and attracting young people to the market.