News
Insurance Age Digital Edition: July - Hitting restart?
The July issue of Insurance Age is available via digital platforms only due to Covid-19.
People Moves Round-up: 29 June - 3 July 2020
Keep up to date with the latest people moves.
Cullum-backed Ataraxia launches broker network
MD Adam Boakes says model will help brokers increase their income as well as provide them with a guaranteed investor in their business once they're looking to exit.
Jensten Group makes lockdown buy with Senior Wright deal
The moves adds £20m in GWP to the Jensten Group portfolio.
Lloyd's proposes solutions for non-damage BI cover
The insurance market has revealed a number of frameworks to help tackle the coronavirus crisis as well as future systemic catastrophes.
Miles Smith-owner SRG buys Insolvency Risk Services
The company purchased the administration specialist from MS Amlin as SRG teases further strategic partnerships.
CFC expands its transaction liability range
The product is aimed at businesses pursuing small portfolio add-on acquisitions that may otherwise go uninsured.
Aviva suspends Facebook ads amid hate speech row
The insurer is the latest large firm to pause advertising on the social media platform which has been accused of not doing enough to address hate speech.
Aon to repay 20% pay cuts
Broker backtracks after 70% of employees were forced to take reductions in pay due to the coronavirus crisis.
UK profit for Ecclesiastical slips to £20.4m
The results for 2019 showed a decrease in profits but GWP grew by 3.6% to £257m as broking division makes a loss.
Gefion enters liquidation after it loses insurance license
The troubled Danish provider says it is "disappointed" after Danish regulator refuses three-month extension to its recovery period forcing it into run-off.
GRP moves into health insurance sector with new deal
Towcester-based broker Premier Choice Healthcare becomes consolidator's healthcare hub.
Insurance Covid-Cast: What next for Managing General Agents?
In the 30th episode of Post and Insurance Age’s video series we gathered together an expert panel to discuss what the future holds for managing general agents.
Car premiums fall in Q2 amid Covid-19 lockdown
Consumer Intelligence says average motor premiums fell by 1.4% in the last three months, most likely as a result of fewer people driving during the pandemic.
MGAA names ex-One Commercial boss Mike Keating as new MD
Keating will take over from outgoing MD Peter Staddon in September.
Insurers accused of ‘dragging feet’ as extra FCA BI September trial dates mooted
The eight insurers involved in the case are still on the hunt for their own expert evidence as a second trial in September is looking increasingly likely.
FCA BI test case ‘clear and present danger’ to brokers
Experts warn that brokers could find themselves under fire as insurers lean in intermediaries in defences.
Action Groups get go-ahead to intervene in FCA BI test case
Groups formed against Hiscox and QBE will “closely liaise” with the FCA but are not permitted to increase the scope of the test case.
Ardonagh moves forward with refinancing
The $500m ‘payment-in-kind’ toggle notes have been priced as the business progresses with £1.9bn refinancing which includes a $300m war chest.
Marsh reveals sport, entertainment and media industry group
Group launched in response to Covid-19 impact on SEM sector and will be led by Richard Tolley, deputy leader, global sports and events.
Marsh bites back as RSA alleges it is on the hook for wording in FCA BI test case
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
Insurance Covid-Cast: Combatting coronavirus-related insurance fraud
In the 29th episode of Post and Insurance Age’s video series we gathered together an expert panel to discuss the prevention, detection and prosecution of insurance fraud at a time of pandemic.
Insurers lock horns with FCA in BI test case defences
Brokers brought into fray as providers file a variety of defences including proximate cause and the ‘Sweden defence’ in the landmark case to determine the validity of BI claims arising from the coronavirus pandemic.
Acturis reports revenue rise in 2019
Software house has also seen a dip in operating profit as results reveal it paid £10.8m for Canadian business Zycomp Systems last July.