Motor
Second quarter performance pushes Ageas UK COR below 100%
Ageas UK has reported a post-tax profit of £22.8m for the first half of 2020 reversing a loss of £2.7m in the first quarter.
I-Wonder stakes claim for industry first with Sorn site
I-Wonder has partnered with Go Compare for the launch of a Sorn insurance comparison service.
Claims Apprentice 2020: Episode four – Insurtech challenge
With Team KDA emerging as the winners of the podcast challenge, the apprentices now move onto their next task.
Aviva planning aggregator motor roll out after Confused pilot
Aviva is targeting this autumn for the next stage of its move onto aggregators after a trial with Confused, Colm Holmes, Aviva CEO of general insurance, told Post.
Sampo and RMI bid a ‘real vote of confidence’ in UK insurance, says Hastings CFO
The takeover offer from Finnish insurer Sampo and South African financial services firm Rand Merchant Investment holdings is a ‘real vote of confidence’ for UK Insurance, Hastings chief financial officer John Worth told Post as Hastings released its…
Business enquiries down 14% on last year at Allianz
While market conditions are slowly recovering in the wake of the coronavirus lockdown, the volume of new enquiries for commercial policies remain substantially lower than were last year, according to Allianz Insurance.
Hastings agrees £1.66bn takeover
Finnish insurer Sampo and South African financial services firm Rand Merchant Investment Holdings have agreed a £1.66bn takeover with the directors of Hastings.
PE firms circle AA for takeover talks
Motoring group The AA has confirmed holding takeover talks with three private equity parties as it discusses “a wide range of potential refinancing options”.
Interview: Michael Lee, First Central
A year into his role and Michael Lee, CEO of First Central, explains to Jen Frost what he believes are the three elements needed to be successful in motor insurance
Thatcham publishes requirements for repair of ADAS vehicles
Thatcham releases insurance industry requirements for the safe repair of ADAS-equipped vehicles.
Connected claims is the driver to take telematics closer to the mainstream, says Trak Global CEO Corrie
The next generation of telematics will involve low cost hardware coupled with smart phones and be based around the connected claims journey.
Briefing: Is it time to lock up your employees as Amazon comes a-calling?
News that Amazon is expanding in the Indian insurance market coupled with its recent recruitment in the UK could leave insurers feeling a bit worried for their staff and their business.
Hastings confirms cash offer approach
Hastings has confirmed it has been approached by Sampo and Rand Merchant Investment Holdings with a potential cash bid for the business.
Complete Cover deal saw £108.7m written off
The net liability position of Complete Cover’s ultimate holding company Key Topco improved from a deficit of £93.4m at the end of 2018 to just £1.7m by the end of March 2020 after the takeover by Sun Capital Partners at the start of this year.
Sun Capital injected £7m into Mulsanne as SCR fell below 100%
The new backers of Mulsanne Insurance Company had to invest £7m into the Gibraltar-based underwriter this April to meet solvency capital requirements.
Carter hails 'trampoline bounce back' after lockdown hit H1 volume at Sabre
Motor specialist insurer Sabre was pleased overall with the half-year results as the coronavirus pandemic pushed premiums down 14% to £86.9m, CEO Geoff Carter told Post.
Briefing: Tesla CEO Musk warns incumbents it is building a 'great, major insurance company'. Should they be worried?
On last week’s Q2 briefing call Tesla CEO Elon Musk told insurers he is coming for their actuaries, to help him start an insurance ‘revolution’. But could his obsession with data and math have blinded him as to where the real battle in motor insurance…
Tansar administration after collapsed sales talks leaves Gefion facing £5.4m shortfall
Unrated Danish insurer Gefion is due to receive just 3% of the £5.5m owed by Tansar Holdings, which has been put into administration.
CMA launches merger inquiry into Ardonagh-Bennetts deal
The Competition and Markets Authority has opened a merger inquiry into the proposed takeover of Bennetts Motorcyling Services by Ardonagh Group.
ABI and Biba tout 'postive impact' of voluntary action on dual pricing
Voluntary initiatives launched in 2018 to address dual pricing are “having a positive impact”, the Association of British Insurers has claimed amid suggestions that the industry needs to go further and do so quickly.
Blog: The legalisation of rental e-scooters and its impact on the insurance industry
The UK government recently took the decision to legalise the use of rental electric scooters on public roads. Glyn Thompson, head of the motor sector focus team at the Forum Of Insurance Lawyers and technical lead motor at Weightmans, looks at what the…
Car insurance premiums fall but ‘uncertainty’ dogs future pricing: WTW/Confused
While average car insurance premiums fell 5% in the second quarter of 2020, deeper analysis reveals more is going on beneath the surface as Willis Towers Watson and Confused warn of future pricing “uncertainty.”
Joint liquidators appointed for Gefion
Søren Aamann Jensen from the Danish law firm Kromann Reumert and Troels Askerud from Gefion have been appointed as joint liquidators of Gefion Insurance.
Sam White launches Australian MGA Stella with £80m target
Pukka-owner Freedom Services Group has teamed up with private equity firm Envest and others to launch Stella Insurance, a digital managing general agent providing female-centric motor insurance in Australia.