News
Pool Re ups retro cover to £2.5bn
The three-year agreement triggers if losses top £400m in a year.
Aviva UKGI reports £318m operating profit
This is up from £182m in 2020 as the business also flags GWP of £4.9bn, up from £4.6bn in the previous year.
Hiscox chair calls for more consistency and less bureaucracy in regulation
Non-executive chairman Robert Childs has called on regulators to be more flexible, offer more consistency, and prioritise a competitive edge.
Hiscox UK posts near 10% rise in GWP for 2021
The provider grew commercial lines business while personal lines shrank in the year.
FCA cap on CMC fees comes into force
Regulator claims consumers are expected save £9.6m a year.
Amanda Blanc confirms Aviva move to 80 Fenchurch Street
Relocation plans revealed as Aviva reported GWP of £8.8bn for the full year 2021.
FCA confirms scrapping bonuses
The regulator has unveiled a new pay deal against a backdrop of potential strike action.
RSA names Cath Frost as regions MD
RSA has appointed Cath Frost as regions managing director replacing Lee Mooney, who was promoted to managing director of RSA commercial lines in November.
Analysis: FCA bares its teeth on residential property insurance
Martin Friel explores the likelihood of intervention by the watchdog as premiums go up in a market that has “not worked well” for more than a decade.
SRG adds motor trade specialist to portfolio
The move follows snapping up the specialists risks team from Bridge Insurance at the start of the year.
BI highlighted as commercial flood risk issue
A survey by parametric provider FloodFlash saw 71% of brokers say they have had to handle flood incidents for clients.
Aon confirms cyber incident
Firm states its ability to serve clients has not been impacted by the event.
CII releases member consultation findings
The organisation had 1,149 responses via its online consultation and held 62 events.
Twining exits Kingsbridge
Paul Havenhand succeeds James Twining as CEO of Kingsbridge and Dinghy.
FCA dual pricing rules drive biggest monthly premium jump in eight years, says Consumer Intelligence
Average premiums for home insurance rose 9.1% in January while motor was up 4.9%, according to the specialists.
EV charging product launched
Recharge Rescue has developed a product, which can be sold via brokers, to help EV drivers if they run out of power.
Modellers put Storms Dudley and Eunice losses at up to £4.1bn (€5bn)
RMS estimates top figure of £3.7bn (€4.5bn) with the UK accounting for around 15% of the total.
"Delight” for Wolseley-owner as Axa loses BI case
The insurer said it would give the judgment “careful consideration”.
Brokers praise insurer response to storms claims
Storms Dudley, Eunice, and Franklin could cost UK insurers more than £400m in claims, according to Moodys.
People Moves: 21-25 February 2022
Keep up to the date with the latest industry moves in the insurance space.
Judge rules in favour of Wolseley-owner Corbin & King in BI case with Axa
The case could see insurers paying out an increased number of and higher value business interruption claims.
Analysis: How do brokers feel about a four-day week?
Industry experts highlighted the benefits and challenges of a four-day week in the insurance space.
Pikl reveals £100m GWP ambition
CEO Louise Birritteri told Insurance Age that the company was also preparing to expand into the shared mobility space this summer.
Travelers snaps up Trov’s technology assets
Following the deal, the insurtech's team and its embedded technology will be positioned within Travelers' personal insurance segment.