Motor
Hastings sees GWP rise 27% as it announces first dividend
Hastings has reported a 27% increase in gross written premiums to £614.9m (2014: £483.4m) for the 12 months ended 31 December 2015 and expects to pay shareholders a maiden dividend of 2.2p per share.
Over-50s worst hit from motor premium hike
Those over the age of 50 are being worst hit from the rise in motor insurance, according to insurance market researcher Consumer Intelligence.
Carrot suggests IPT exemption for young drivers
Telematics provider Carrot wants Chancellor of the Exchequer George Osborne to exempt young drivers from paying insurance premium tax if they buy an approved safe driving telematics programme within one year of passing their driving test.
IPT could rise to 12.5% at March budget, AA warns
The AA has warned that insurance premium tax could rise from 9.5% to 12.5% in next week's Budget announcement.
Hiscox-owned Direct Asia sells Hong Kong division to Well Link
Global insurer Hiscox has decided to sell the Hong Kong division of Direct Asia to Well Link for an undisclosed sum.
Sompo Canopius mulling sale of motor business KGM
Sompo Canopius is considering the sale of KGM, its UK motor insurance business.
Vann to drive home growth at Esure with 'test and learn' approach
Esure is adopting a “test and learn" approach to expanding its home insurance footprint in a bid to quote for a wider UK demographic once rates improve.
Underlying profit drops at Esure amid challenging market in 2015
Esure recorded a deterioration in its combined operating ratio to 97.8% in 2015 (FY 2014: 91.9%) as underlying profit dipped by 22.7% to £82.9m (FY 2014: £107.2m) amid “highly competitive” market conditions.
Reduced Admiral underwriting share to have little financial impact
Admiral Group's 3% reduction in its underwriting share announced in the company's 2015 full-year results today (3 March) will not have a significant financial impact on the business, according to chief financial officer Geraint Jones.
Admiral reports motor profit rise as Confused takes hit
Admiral has reported an 8% increase in 2015 group turnover to £2.12bn (2014: £1.97bn) and a UK motor combined ratio of 81% (2014: 83%).
Gladwell to leave Innovation Group amid flurry of exits
Innovation Group UK property head Greg Gladwell is to leave the company on 31 March after six months in his role.
Claims Club: IFB will move to GWP levy in 2017 and broaden stakeholders to include aggregators and affiliates
The Insurance Fraud Bureau will move to a gross written premium levy from 2017 after undertaking a 2015 consultation of five key principles including its funding model.
RAC buys Nebula Systems to boost telematics offering
RAC has acquired vehicle data company Nebula Systems, a deal the breakdown assistance provider said will boost its telematics offering.
Cash-for-Crash Fraud: Beating the fraudsters
The Welsh Police have done a sterling job breaking a large car insurance fraud ring in South Wales – but there are fears such scams will go undetected unless the British insurance industry improves its detection powers
Insurers back Axa's call for consistent injury awards in Ireland amid 30% motor premium increases
Insurers in Ireland are backing a call by Axa for more consistent personal injury awards amid concerns the body established to handle personal injury claims and compensation in 2004 has lost its way.
AA calls on Osborne to avoid another IPT hike
The AA is urging Chancellor of the Exchequer George Osborne, pictured, not to further increase insurance premium tax in the March budget.
C-Suite: The potential of telematics in Asia
Telematics is a great opportunity for Asia's motor insurers as competition intensifies in the region writes Pravar Gautam.
Axa's Evans 'surprised' by competitors' flood figures
Axa's £80m flood bill did not materially affect its 2015 results, according to UK and Ireland group CEO Paul Evans, who was "surprised" at some of the results released by competitors.
Four more regional sites to be ‘optimised' in RSA cost-saving drive
RSA's offices in Liverpool, Halifax, Horsham and Chelmsford will be impacted by the insurer's plans to reduce its regional footprint.
Allianz keen for UK to stay in Europe
Allianz UK CEO Jon Dye has confirmed the German-owned insurance company would like the UK to remain within Europe ahead of the planned referendum on the UK's membership of the European Union.
Thousands of commercial motor fraud cases uncovered by Aviva
Aviva detected almost 2200 cases of commercial motor fraud in 2015, with the company now set to screen all such policies for fraud at application.
Ageas will replace UK General capacity deal
Ageas will look to replace the agreement it had with UK General after it was announced Great Lakes Reinsurance (UK) will takeover as the managing general agent's major capacity provider.
Storms to cost Ageas £46.1m as FY profit slides
Ageas estimates it will pay £46.1m worth of claims following the December 2015 storms and floods, taking its 2015 combined ratio to 102% (2014: 99.8%).
Blog: Young driver discrimination is unfair
When it comes to young drivers, the rest of the UK should think hard before adopting the punitive measures taken in Northern Ireland, because there are alternatives