Insurer
BoE exercise: No additional action scenario on climate change ups UK insurer losses by 50%
UK general insurers could face at least a 50% increase in average annualised losses in a non additional action on climate change scenario, a report by the Bank of England has detailed.
R&Q and Brickell deal collapses
R&Q has detailed plans to raise $108m (£85.8m) as the proposed takeover by Brickell fell through.
Cyber pricing hardens over 30%, says Aon
Market conditions for cyber insurance in the UK remain challenging with prices hardening by over 30% for the first quarter, according to an update by Aon.
Adrian Coupland joins Earnix
The former customer and marketing director at SSP, Adrian Coupland, has joined Earnix as head of sales for insurance in Europe, the Middle East and Africa.
Brickell seeks to cancel £482m R&Q takeover deal
Randall & Quilter has revealed that Brickell has cited a “material breach” and moved to scrap the proposed takeover.
Policy Expert signs six-year £2bn capacity deal with R&Q Accredited Europe
Home and motor insurtech Policy Expert has agreed a six-year capacity deal with A- rated R&Q subsidiary Accredited Insurance (Europe).
HDI restructures UK & Ireland operations
HDI Global and HDI Global Specialty’s UK and Ireland branches have been brought under a common leadership structure for the first time.
SEIB adds Lloyd & Whyte CEO to board
Matthew Pyke has become a non-executive director for SEIB, which is owned by Ecclesiastical's parent firm. Lloyd & Whyte is also 20% owned by the Benefact Group
MS Amlin teams up with Altelium on battery energy storage insurance
MS Amlin Underwriting has partnered with insurtech Altelium to launch a battery energy storage system construction all risk and operational all risk insurance solution.
R&Q delays shareholder vote on takeover
R&Q has postponed the shareholder vote on being bought by Brickell until 25 May.
FCA warns on Broker Express clone
The Financial Conduct Authority has warned of a clone of Broker Express with fraudsters using or giving out details as part of their tactics to scam people in the UK.
Aviva enters exclusive discussions to buy Azur’s HNW operation
Aviva has opened exclusive negotiations with specialist managing general agent Azur Underwriting to buy its high net worth personal lines business in the UK and Ireland.
Zurich to sell Russian business to local team and exit market
Zurich Insurance Group has agreed to sell its Russian business to 11 members of the unit’s team.
RSA re-jigs leadership team to bring customer operations and claims together
RSA has promoted Karl Helgesen to chief operating officer with Louisa Leonard becoming managing director for personal lines to replace Kay Martin who is retiring.
Gallagher to rebrand Coleman Marine
Gallagher will rebrand Coleman Marine as Gallagher on 30 May.
Michael Gove slams "neither fair nor decent" high premiums for leaseholders
Michael Gove, the Secretary of State for Levelling Up, Housing and Communities and Minister for Intergovernmental Relations has pledged to reduce premiums for leaseholders amid the Financial Conduct Authority’s study into the market.
Aviva grows UK GWP by 4% in Q1
Aviva has posted a 4% rise in UK gross written premiums for the first quarter of 2022 to £1.24bn but a deteriorating combined operating ratio of 99.4%.
Aviva halfway to regional underwriter recruitment target
Aviva has added a net 20 new underwriters to its underwriting team in the regions, chief distribution officer Gareth Hemming told Insurance Age.
PIB adds to Spanish portfolio
PIB Group has bought Spanish broker Tractio.
Das LEI reports comprehensive £4.3m loss for 2021
Das Legal Expenses Insurance Company made an underwriting loss of £2.1m for the full year 2021 according to its solvency and financial condition report.
Premier League football clubs open court claim against insurers
A suite of football clubs including Arsenal, Aston Villa, Brighton & Hove Albion, Leicester, Liverpool, Tottenham and West Ham have filed a claim in the commercial court against Allianz, Aviva, CNA, Liberty, MS Amlin and Zurich.
Burnley and Blackburn CII branch to close
The Chartered Insurance Institute of Burnley and Blackburn is to close its doors, Insurance Age can reveal.
FCA warns on Allianz Global Corporate clone
The Financial Conduct Authority has issued an alert that fraudsters are claiming to be Allianz Global Corporate and Speciality SE, the European Economic Area authorised firm.
CII posts £4.4m loss for 2021
The Chartered Insurance Institute has revealed a return to operating surplus but a £4.4m group loss for 2021 as it was hit by pension costs of £6.64m and a tax charge of £1.98m.