News
RSA threatens 300 redundancies
The insurer is also seeking to tackle complexity in its portfolio and downsize its office footprint following increased remote working in the wake of Covid-19.
Allianz hits almost £2bn in premium
However commercial business sees GWP decline in H1 2020 numbers as provider predicts £80m Covid-19 BI hit.
Video: Fleet crime in the agricultural space
Insurance Age speaks to MS Amlin about how farming fleets are being hit by organised crime.
PIB buys Rigton Insurance
Acquisition of Leeds-based broker follows hot on the heels of deals for UKinsuranceNET and Marx Re-Insurance Brokers
Hastings bought by Finnish/South African consortium
The deal values Hastings at around £1.66bn as the provider also publishes half year results.
Co-op hits out at Unite over Markerstudy deal claims
Unite said the deal is a “betrayal” of the Co-op philosophy as trade union predicts 200 jobs at risk once deal goes through.
UK Broker Awards – Meet the Shortlist – Training Award
Meet all of the finalists competing for the Training trophy at the UK Broker Awards.
FCA threatens intervention over BI claim deductions
The #justpayit campaign has highlighted that some providers are reducing BI payouts to businesses which have received government support grants.
GRP buys seven business books from Aon
The deal includes a large portfolio in Northern Ireland.
AA confirms offer talks amid refinancing
The group is meeting with Centerbridge Partners Europe, LLP alongside Towerbrook Capital Partners UK, Platinum Equity Advisors and Warburg Pincus International as it flags £2.65bn of debt.
People Moves: Round-up 3 - 7 August 2020
Keep up to date with the latest people moves.
UK Broker Awards – Meet the Shortlist – Broker of the Year
Broker of the year goes to the best of the best and this year is sponsored by Markerstudy.
Hiscox COR soars to 114.6% and losses hit $138.9m
The provider has also reserved $232m for Covid-19 related claims as it reports H1 2020 numbers.
Aston Lark buys PHM
The deal adds around £4m in GWP and sees Aston Lark push further into employee benefits.
Lloyd's commits to female representation target
Market also launches Culture Dashboard and is set to undertake a second annual survey in October following heavy criticism of its culture in 2019.
Grumpy Old Insurance Execs: Bunker, Cooter, Hanks and Smith on trading through a hard market
For the 36th episode of Post and Insurance Age’s Covid-Cast video series we gathered together an esteemed panel of ‘grumpy old insurance execs’ to talk about how to trade through a hard market, something many might have not experienced before.
BI court case judges aiming for draft judgment in mid-September
Lord Justice Flaux has confirmed the middle of September as the target date for a draft judgment in the business interruption court case brought by the Financial Conduct Authority against UK insurers.
Pen increases solicitors’ PI capacity to more than £100m
The backing comes from A-rated capacity and lasts for three years.
Lloyd’s Dive In festival opens registration
The diversity event is taking place virtually this year and has speakers including the first British astronaut Helen Sharman and BBC presenter Naga Munchetty.
RSA posts drop in premium in H1 2020
Provider expects Covid-19 premium slip of £110m for the group, including an estimated £81m impact in the UK & International business, as it also reveals a £33m loss on its UK and London market exit portfolios.
Finnish provider in cash offer talks with Hastings
Sampo Oyj has approached the business along with Rand Merchant Investment Holdings.
QC accuses FCA of failure to show causal connection between government action and the disturbance to the insured businesses
Insurers argued the Financial Conduct Authority is “unable to demonstrate” any meaningful connection between the action taken by the UK government on a national basis in response to Covid-19 pandemic and the locality of firms’ premises, as the court…
Sharon Bishop exits Close Brothers amid restructure
The business is combining the leadership of its retail businesses, with Rebecca McNeil taking on the newly created role of chief executive officer, retail.
Sabre reports GWP of £86.9m for first half of 2020
The motor insurer said it had continued focus on a strategy of prioritising underwriting profitability over volume whilst reflecting Covid-19 impacts using a data-driven pricing approach.