Insurer
Financial & Legal expands product range
Managing director, Karen Beales, was brought into the insurer two years ago to develop the products it offers.
FSCS pays out £7m in East West claims
Since East West Insurance Company went into administration the Financial Services Compensation Scheme has so far paid approaching £7m in valid claims costs.
Motor insurance premiums levelled off in February
The cost of car insurance has risen by 4.3% since the start of the year, Consumer Intelligence has calculated.
Zurich opens regional office for East Anglia in Chelmsford
Zurich UK has moved to strengthen its relationships with brokers by opening a regional office in Chelmsford to service the East Anglia area.
People Moves: 11 - 22 April 2022
Keep up-to-date with the top personnel stories on Insurance Age.
Flood Re launches resilience initiative
The government-backed Flood Re schemes has developed the Build Back Better scheme to help make homes more resilient against flooding.
Broker revenue falls at the AA
Revenue from broking activities fell to £100m for the year to 31 January 2022, the AA has revealed.
Extinction Rebellion blockades Lloyd’s
Climate protestors have used superglue, chains and bike locks to block 25 entrances into the iconic Lloyd’s building on Lime Street in London.
Iprism posts increased profit in run-up year to MBO
Iprism Underwriting Agency has reported a 9.7% increase in profit for the year ended 30 June 2021.
Adapting motor to an ‘electric’ world
While it’s sometimes difficult to compete on price against direct insurers, AX’s director of commercial sales Steve Molloy, shares some experience in how FNOL and claims management partners can support brokers in attracting and retaining customers.
Lords Committee calls for “a broader reassessment of regulatory culture”
The Industry and Regulators Committee has outlined concerns about proportionate regulation in the London Market in a letter written to the Economic Secretary to the Treasury, John Glen MP.
Taking the temperature of the electric vehicle market
With the Financial Conduct Authority’s price walking ban coming into force and customers transitioning from internal combustion engines to electric and hybrid vehicles, the motor insurance industry is currently in a state of flux. Eleanore Robinson…
Financials Acquisition Corp to float on Stock Exchange
The special acquisitions company is looking to raise £150m to drive MGA and tech deals.
People Moves: 4 - 8 April 2022
Keep up-to-date with the latest industry moves.
Aviva and Allianz surveys flag inflation and climate impact issues for SMEs
Inflation has toppled business interruption as the number one concern for small businesses in a survey by Allianz Commercial while separate research by Aviva has found three-quarters of SMEs believe businesses should work on reducing their environmental…
AM Best rates MGA Castel
The organisation said it is the first UK MGA to receive a performance assessment from the rating agency.
Blog: Managing theatre risk post-Covid
Ross Howard, assistant underwriter for entertainment at Markel International, and amateur thespian, explains how performers and theatre companies have overcome the obstacles of Covid-19, and discusses their plans to safeguard theatre productions in a…
Analysis: The inflation challenge
The ever-increasing rate of inflation in the UK and certainty of more to come has led to warnings of challenges for brokers and insurers alike with issues ranging from difficult conversations on premium rises to underinsurance and the prospect of turning…
New RSA CEO Ken Norgrove promises to fix current “average” broker service
The insurer is keen to grow in SME in partnership with brokers but will not be targeting micro business.
Aviva takes Charlotte Jones from RSA as CFO
Aviva has been looking for a new CFO since Jason Windsor resigned in January.
R&Q agrees £482m sale to Brickell
The deal would give shareholders a premium of around 20% on yesterday’s closing price.
Lloyd’s picks 11 for latest lab cohort
The insurtechs have been selected based on solutions geared towards four key themes: decarbonisation and climate change; supply chains; data and models; and claims.
KGM buys Eridge Underwriting Agency
The MGA forecast the combined business will underwrite £175m in gross written premium this year.
Axa opts not to appeal BI ruling in Corbin & King case
The insurer said it is working with the restaurant group to finalise the claim as quickly as possible as well as looking at the impact of the court’s decision on other declined claims.