Motor
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…
FCA to add 80 jobs focused on shutting down problem firms
The Financial Conduct Authority will focus resources on preventing serious harm, setting higher standards and promoting competition the watchdog detailed as it revealed its three-year strategy to improve outcomes.
Think Insurance makes first broker buy
The motor and niche specialist has added to its commercial offering led by Russell Bence.
KGM buys Eridge Underwriting Agency
The MGA forecast the combined business will underwrite £175m in gross written premium this year.
FOS insurance backlog stretched to over 9000 cases
Across financial services the ombudsman had nearly 5000 cases open for more than two years.
Mark Coffey leaves Atlanta
The director of trading had been with the firm for nearly four years.
Igo4 creating 100 jobs in Peterborough
Firm targeting 30% new business growth this year with expansion across core markets, mainstream motor and the launch of insurance for electric hybrid vehicles.
Tempcover to sell up to Uswitch and Confused owner RVU
The broker completed an MBO at the start of 2018.
Ex-Swiftcover founder and Axa boss Steve Hardy to lead Policy Expert
QMetric Group CEO Sanchit Suri has left the business.
Saga reports drop in broking GWP and profit
The group sold Bennetts in August 2020.
Hagerty launches motorsport insurance in the UK
The organisation is working with Gullwing Racing Insurance.
Experts respond to “disturbing” motor insurance ethnicity penalty report
Insurers face challenging questions but the Association of British Insurers insists “insurers never use ethnicity as a factor” to price cover.
Sabre reveals Bennetts partnership and promises flexi insurance broker push
Insurer reported £169.3m of gross written premium and a combined operating ratio of 79.4% for 2021.
Citizens Advice reveals “shocking” insurance ethnicity penalty
A report found that, collectively, people of colour pay £213m more for their car cover.
Sabre reports dip in profit for 2021
Provider delivers a combined operating ratio of 79.4%.
Ex-Fresh CEO Mike Wall joins Markerstudy
Wall is recruiting a team of 12 to develop the business’ non-standard home and motor offerings.
A-Plan delivers rising turnover and profit after Howden takeover
The high street specialist has grown its commercial centres to 40.
NIG posts policy count and GWP rise for 2021
Owner DLG reported gross written premiums of £3.17bn with profit after tax of £343.7m.
ERS posts COR of 98%
The insurer noted there was a reduction in demand in motor but growth in commercial.
Esure posts loss of £7.1m for 2021
Gross written premium also slipped to £807.6m for the full year 2021.
SSP adds Percayso Inform to platform
The software house said it made the move to broaden its data enrichment capabilities.
Admiral reports increased profit and turnover
Profit before tax hit £769m, a 26% uptick on the 2020 result as it flags plan to move into small business insurance.
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 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.