Direct Line’s profits slumped by 12.2% in 2019 as the group incurred the first of a multi-year package of restructuring costs and strengthened reserves in response to the revised Ogden rate.
Exclusive: Freedom Services Group has bought insurtech business Homelyfe from Aventus for an undisclosed sum in a deal that closed last week.
The Northern Irish Department of Justice plans to change the Northern Irish personal injury discount rate to minus 1.75%, pending a statutory consultation.
Hiscox Group has reported a slump in pre-tax profits to $53.1m (£41.6m) in 2019 as catastrophe costs of $165m took their toll despite a significant rise in investment income.
ERS has recorded profit of £13.9m for 2019, its best performance since being bought by Aquiline in 2013.
The gender ban in insurance pricing was not approached in the right way and shows why ratings factors should be linked to actual risk, Admiral UK insurance CEO Cristina Nestares has argued.
Recent research from the Association of British Insurers found compensators pay out millions every day on repairs and bodily injury claims in the UK but according to Olly Savage, Minsitry of Justice data reveals they’re handling high volumes of injury…
The decision by the Ministry of Justice to remove alternative dispute resolution from the whiplash claims portal has been slammed by law organisations as a broken promise, just not good enough and removing a central plank of the whole process.
The Ministry of Justice has addressed a “loophole” meaning children and vulnerable adults will be able to recoup representation costs when the delayed whiplash portal rolls out, but questions linger over its start date, pressure on courts and claimants…
The government has decided that it would not be “practical” to implement the whiplash portal as planned and has delayed it until August.
Hastings is hoping that investment in its anti-fraud capabilities and supplier partnerships secured in the tail-end of last year will mitigate the impact of claims inflation on its bottom line.
RSA has delivered an underwriting profit of £3m in the UK for 2019, reversing the underwriting loss of £93m the year before.
Insurtech Tractable is targeting new clients in South East Asia, the Middle East and Latin America after unveiling a $25m (£19.2m) Series C investment, led by Georgian Partners
Direct Line Group is cutting 800 jobs over the next two years, the insurer has confirmed.
In the next in our series of podcasts with Motor Insurance World speakers, Alex Lewis-Jones, research manager at Delta EE, is interviewed by Post’s editor Stephanie Denton, on alternative modes of travel, the challenges and hurdles to our transport and…
Law firm Kennedys has spun out part of its innovation function as a separate wholly-owned limited company in order to speed up product development and attract staff more suited to its technology/software focus.
Delays to the legislation that will govern the whiplash portal mean it is highly unlikely the portal will launch in April, Association of British Insurers director general Huw Evans projected.
There was “a very large number of factors” behind the significant drop in operating profit at Allianz UK in 2019, according to CEO Jon Dye.
Allianz UK has reported profit of £138.1m for 2019 supported by investment gains as operating profit fell.
In this month's column, David Worsfold, a long-running commentator on the insurance market, explores how the insurance industry could find itself rather lonely in its corridors of deviation after Brexit is finalised, the complexities of Covid-19 for the…
The Motor Insurers' Bureau has been tipped to challenge the government into amending the Road Traffic Act or change its own Articles following this week's Supreme Court ruling in the case of MIB v Lewis.
Industry experts have predicted that the government is ready to delay the upcoming launch of the claims portal with an announcement expected “very soon”.
Ageas UK saw its profitability slump by 21% last year, reporting full-year profits of £60.3m compared to £76.7m in 2018.
Ardonagh Group has agreed to pay Saga £26m for Bennetts Motorcycling Services.