Motor
Q Underwriting extends Aviva capacity in £200m deal
The specialist underwriter confirmed the renewal of key binder Aviva, plus, developments to its Covéa-backed contractors combined product.
Call for clarity on final rules amid FCA dual pricing extension
The regulator's plan to ban the loyalty penalty is met with approval from the industry, but some criticise the FCA's approach as firms still do not know what the final rules are.
Commercial underwriting agency, CoSaint AG, goes live
The organisation has launched its first product for the motor trade combined market, backed by NIG and Covéa, and developed an online liability portal.
FCA extends dual pricing timetable
Following consultation the regulator has given firms fresh deadlines to implement rules relating to the loyalty penalty.
Staveley Head: £9.9m owed to unsecured creditors
The administrator’s report also showed £27.7m in claims since they were appointed.
Sabre reports profit fall as results are "heavily disrupted" by the pandemic
The motor provider posts £173.2m in GWP and a combined operating ratio of 75.3% in 2020.
ERS reveals $350m capital injection to drive expansion plans
Boston-based Abry Partners leads capital raise, with current major shareholder Aquiline also participating, as ERS continues to diversify into (re)insurance commercial lines.
Insurance Hound: Most read by brokers in February 2021
Which topics have been sparking brokers’ interest?
Markerstudy focuses on further deals after Brightside buy
Gary Humphreys says the provider is actively looking to buy more businesses as he flags further consolidation in the personal lines space.
Mark Wilson's Abacai buys Dayinsure
The motor insurance specialist, which is Abacai's first acquisition since it launched last month, will remain a standalone business run by its current management team.
Blog: It’s Simply Business as Markerstudy finally lands Brightside
As Markerstudy acquires Brightside Jonathan Swift looks at a deal over seven years in the making that has highlighted a tale of two investments for Anacap.
Brightside sold to Markerstudy seven years after collapse of initial deal
Markerstudy finally gets its hands on the specialist personal lines broker after being rejected for undervaluing the broker in 2013.
Profit and turnover up for Admiral Group
Profit before tax was driven by strong reserve releases and lower claims frequency.
ERS posts surge in profit for 2020
COR also improved, while GWP was down on 2019 after a number of products lines were "materially affected" by Covid-19.
Ex-Aviva boss Mark Wilson to lead insurtech venture after merger with Complete Cover Group
Motor insurtech Abacai launches with backing from Complete Cover owner Sun Capital and sees Wilson take charge as CEO alongside a leadership team including two executives from CCG.
Jensten moves in for second deal this month
It has bought Advance Insurance Agencies to act as a specialist personal lines hub for its franchisees and broking operation.
Ageas reports 95.2% COR
The improved position was down to lower motor claims due to the lockdown as the insurer reports growth in broker deals for household and commercial.
MCE commits to AI underwriting
The specialist motorcycle broker is using artificial intelligence to provide precision pricing and bundle quote, policy and claims data.
Zurich takes stake in MyPolicy
The provider has also joined the panel of the analytics and telematics specialist.
Be Wiser to slash staff numbers amid restructure
All 280 staff are under consultation as the business looks to reorganise following a series of losses and a "tough" pandemic.
Kingfisher denies "bad faith" dismissals amid legal row with Fresh-sellers
The dispute centres around accusations of misconduct, data breaches and misuse of the MyLicence platform at Fresh, which was bought by Kingfisher in 2018.
Complete Cover Group reveals return to profit in 2019
The broker's turnover fell but adjusted Ebitda grew in 2019 according to its latest set of financial results, as the business also comments on its sale to Ormiston Holdco in early 2020.
Prometheus Insurance falls into administration
The Gibraltar-based insurer, also known as Tradewise Insurance Company, which went into run-off last year, cannot meet claims in full.
Usage-based car cover platform created
The proposition has been developed by By Miles founder, Callum Rimmer, for insurers and brokers to offer access to usage-based cover to the motor market.