Motor
Somerset Bridge Group posts loss but rising Ebitda ahead of sale
Somerset Bridge Group has reported a loss after tax of £42.4m for the year ended 31 December 2020 ahead of being snapped up by Bermuda reinsurer Arch Re.
Intelligence: No time to hide on Scottish independence
A second independence referendum raised its head again in the recent elections for the Scottish Parliament, Post investigates what this would mean for the UK insurance sector
Staysure acquires Rock, Esure joins forces with Minster Law, and Allianz invests in Heycar
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Insurers not bitter for time and costs lost after green card uturn as motorists will benefit
UK insurers that have issued 'thousands' of green cards and created portals and communications to allow UK motorists to continue to drive abroad after Brexit have supported the proposals to remove green cards despite the money already spent.
View from the top video: Moving from banking to insurance with Tara Foley, CEO, Axa UK Retail Insurance
In this exclusive interview recorded as part of the Insurance Post Live Annual Conference 2021 Tara Foley, CEO, Axa UK Retail Insurance, reflects on her first six months in the insurance industry.
The future of insurance fraud
While fraud practices have evolved over the years, in more recent times insurers have been able to better detect fraud and have seen significant savings.
The ADAS tipping point – are motor insurers ready as the technology finally goes mainstream?
Advanced driver assistance systems have been part of new vehicles for over a decade now, with these features becoming increasingly common as manufacturers look to gain competitive advantages over rivals.
EU scraps mandatory green cards for UK motorists
The European Commission will waive the obligation for motorists from the UK to show green cards, a move that has been welcomed by insurers.
Government watching Bill to remove effects of Vnuk ruling 'with interest'
A Bill that aims to remove the effects of the European Court of Justice’s controversial Vnuk ruling from British law has been introduced to parliament.
Analysis: The CMCs out of scope
When the Financial Conduct Authority took over claims management company regulation in 2019, it fired warning shots at the sector. Should the regulator’s remit be widened to cover those firms that don’t come under its surveillance?
Prince of Wales launches sustainable insurance task force; Aviva joins forces with WWF; Ford links up with By Miles; and LV reveals PI panel
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Bermuda reinsurer Arch buys Arron Banks’ Somerset Bridge
Arch Reinsurance has struck a deal to buy Arron Banks-backed Somerset Bridge, snapping up the motor managing general agent, distribution arm, affiliated insurer and claims operation for an undisclosed sum.
Insurers wary of 'perverse' CMC behaviour following whiplash reforms
Insurers are concerned that whiplash reforms may result in claims management company “displacement”.
Digital Bar Quarterly: Digitalising claims – it’s not all about FNOL
An insurer can have brilliant digital first notification of loss process, but if it is not developing digital capabilities to underpin other processes, it will still be offering a largely manual service.
A-Plan targets £1bn GWP within four years
A-Plan Group is aiming to break the £1bn gross written premium barrier within the next four years, CEO Carl Shuker told Post.
Aegis launches assailant parametric product; Amicus in MBO; Davies buys two; and Vitality Car launches
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
'Anomaly' Tractable becomes latest UK insurtech unicorn as it diversifies into property after $60m Series D raise
Motor accident and recovery artificial intelligence specialist Tractable is to diversify into property having become the latest UK-based insurtech to acquire unicorn status with a $60m (£43m) Series D raise jointly led by Insight Partners and Georgian…
Tackling climate change top of ABI agenda, says Huw Evans
The Association of British Insurers has been working hard on an industry roadmap for tackling climate change and is aiming to publish its findings on 7 July, director general Huw Evans told the audience of the Post LIVE annual conference.
Abacai adds six to leadership team
UK motor insurtech Abacai Group has recruited six new leaders bringing experience from Sabre, Covéa, Direct Line, Aviva and Vitality to the team under former Aviva boss Mark Wilson.
EY: motor market to return to loss in 2021; Canopius unveils algorithmic MGA; Kitsune sold to XS Direct
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Uber restricts drivers to insurance panel as market insiders warn of ‘huge ramifications’
Exclusive: From next year Uber will only accept drivers with insurance policies from one of nine approved providers.
By Miles strikes £5m agreement with Silicon Valley Bank
Exclusive: Pay-per-mile motor insurtech By Miles has agreed a £5m loan facility with Silicon Valley Bank.
Gefion declared bankrupt
Gefion Insurance has been declared bankrupt by the Maritime and Commercial High Court in Denmark and is no longer paying claims.
RSA targeting motor and SME, says CEO Scott Egan as takeover completes
RSA is in a “cracking place” and ahead of where it would expect to be, according to Scott Egan CEO for the UK and international.