Home insurance
Essential policy providers accused of price walking practices
Regulatory experts have urged insurers to check whether their pushing of “essential” home and motor policies isn’t replicating the price walking sales practices that have been banned by the Financial Conduct Authority.
Motor and home premiums at ‘peak of the pricing cycle’
Figures released by Pearson Ham have revealed that home and motor premiums have further increased in the third quarter, as we reach ‘the peak of the pricing cycle’.
FCA promises action against overcharging brokers
The Financial Conduct Authority has warned brokers it will “take action” against those charging inflated commissions for arranging cladding cover, with some charging up to 62%.
Top 75 MGAs: Avantia
Avantia, the investment company behind Homeprotect, a direct-to-consumer brand for home insurance, appears in this year’s Insurance Post Top 75 MGAs list.
Top 75 MGAs: Policy Expert
Policy Expert’s more than one million UK customers has secured the business a place at the top of this year’s Insurance Post Top 75 MGAs list.
Top 75 MGAs: EGV Holdings
EGV Holdings is continually developing a stable of MGAs, earning the business a place in this year’s Top 75 MGAs list.
Top 75 MGAs: Prestige Underwriting
Prestige Underwriting celebrated its 25th year in 2022 and 20% above plan growth helped the business achieve a place in this year’s Top 75 MGAs list.
Top 75 MGAs: Brown & Brown
Brown & Brown's main MGA-MGU activities dealing in UK-based non-life risks in 2022 earning the business a place on the Top 75 MGAs list were Camberford Underwriting, Decus, Mithras Underwriting and Plum Underwriting.
Top 75 MGAs 2023: Markerstudy
Markerstudy was named one of the country’s two biggest MGAs after achieving revenues of between £80m and £100m for UK-based non-life risks in 2022.
Property claim times to benefit from migrant construction worker influx
The government’s decision to relax the rules for construction workers to enter the UK from abroad, should increase the pool of skilled workers available for property repairs, said Verisk’s head of property Ben Blain, following the release of Verisk’s…
Home insurance payouts outpace premiums in Q2 2023
The latest figures from the Association of British Insurers reveal that £782m was paid out in home insurance claims in the second quarter of 2023.
Motor and building insurance complaints hit five-year high
Quarterly data from the Financial Ombudsman Service shows that complaints relating to motor and buildings insurance have reached their highest level in five years
Travel insurance predicted to lead growth in personal lines
Data from Smart Money People has revealed that travel insurance is set to grow by 15% over the next year, the highest growth projection of the top ten insurance policies.
#30 Provinzial
Germany-domiciled Provinzial slips from 28th place in last year’s list to 30th in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 4.6% average premium growth for the year.
Gallagher expands SME & PL ops; SRG launches sports and media division; RSA appoints commercial CUO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
RSA buys DLG’s commercial lines business for £520m
It was announced last night that RSA and Direct Line had struck a deal that both businesses claim will boost their bottom lines.
Data analysis: Trends in the buildings and contents insurance market
Defaqto’s Angela Pilley examines how many building and content insurance providers are operating today compared with a decade ago, how product features have changed, and the types of fees and charges attached to this type of cover.
Direct Line to refund £30m to overcharged home and motor customers
Direct Line has agreed to a past business review after the FCA found it had breached dual pricing rules, having charged some customers at renewal more than if they were a new customer.
Insurers should stop boasting about paying 99% of claims
Insurers need to stop advertising themselves as being a panacea and be honest with customers if the industry is to be trusted, according to James Daley, managing director of Fairer Finance.
Admiral CEO claims the cycle is turning for motor
Admiral Group CEO Milena Mondini de Focatiis is expecting business to pick up in the latter half of this year after reporting a £298m UK motor business profit in the first half of 2023.
Aviva expands underwriting appetite; Flood Flash with Hiscox; Dual deal
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Allianz CEO anticipates 'strong rate' environment for rest of 2023
Colm Holmes, CEO of Allianz Holdings, has warned the insurance giant will need to continue to rate “to cover the impact of inflation” in the latter half of this year.
Axa pulls two home products in run-up to Consumer Duty
Following an internal review, Axa has announced it plans to pull Axa First and Axa Residential Let policies in the UK.
Pen restructures; Percayso raises £2.7m; Axa’s Foley successor
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.