UK
Ardonagh buys £20m GWP Thames Underwriting
Ardonagh has bought managing general agent Thames Underwriting for an undisclosed sum adding £20m in gross written premium to the business.
Briefing: Fine tuning the risk in Ardonagh’s deal for Bennetts
Ardonagh’s decision to roar ahead with the takeover of motorcycle specialist Bennetts less than a fortnight ago raised a few eyebrows, but really it should not have done.
Bollington breaks through £200m GWP with Watson Laurie buy
Bollington has bought North West based corporate insurance broker Watson Laurie for an undisclosed sum, Post can reveal.
Previsico adds Lloyd’s Lab programme manager Lucy Coutts as BDM
Insurtech Previsico has appointed former Lloyd’s Lab programme manager Lucy Coutts as a business development manager to support its expansion plans across the UK, US and beyond.
FCA extends payment deferral guidance timeframe
The Financial Conduct Authority has kept the temporary measures to help insurance customers hit by the Covid-19 crisis in place until the end of October.
BGL targets million policy mark for renewed Lloyds motor insurance deal
Compare the Market owner BGL Group is aiming to grow its partnership with Lloyds Banking Group to one million policies as the pair signed a five year extension on their exclusive motor and commercial vehicle insurance deal, Post can reveal.
Abbey and Autoline merger to create £119m GWP acquisitive firm
The merger of Northern Ireland brokers Abbey Insurance and Autoline Insurance as Abbey Autoline on 1 September will create a £119m gross written premium growth focused firm that has an eye for striking takeover deals, managing director of the newly…
UK property pricing up 16% in Q2: Marsh
Global commercial insurance prices rose 19% in the second quarter of 2020, research by Marsh has revealed.
CII teams up with UEA to promote insurance careers
The Chartered Insurance Institute has joined forces with the University of East Anglia to help students develop a career in insurance through a programme that includes substantial savings on CII qualifications.
Ardonagh completes Bennetts buy as CMA orders no integration
The Competition and Markets Authority has ordered Ardonagh not to integrate with Bennetts, transfer control or stop competing with it as the consolidator completed the deal to buy the motorcycle specialist.
Second quarter performance pushes Ageas UK COR below 100%
Ageas UK has reported a post-tax profit of £22.8m for the first half of 2020 reversing a loss of £2.7m in the first quarter.
I-Wonder stakes claim for industry first with Sorn site
I-Wonder has partnered with Go Compare for the launch of a Sorn insurance comparison service.
Aviva planning aggregator motor roll out after Confused pilot
Aviva is targeting this autumn for the next stage of its move onto aggregators after a trial with Confused, Colm Holmes, Aviva CEO of general insurance, told Post.
Amanda Blanc promises to shake up Aviva
It is abundantly clear that “meaningful change” is needed to unlock Aviva’s potential, according to CEO Amanda Blanc.
RSA cutting 300 roles
RSA has announced a voluntary redundancy programme as part of a process designed to reduce its headcount by the equivalent of 300 full time roles.
Hastings agrees £1.66bn takeover
Finnish insurer Sampo and South African financial services firm Rand Merchant Investment Holdings have agreed a £1.66bn takeover with the directors of Hastings.
Swiss Re UK CEO Tavaziva Madzinga joins ABI board
Tavaziva Madzinga, CEO of Swiss Re UK and Ireland, has joined the board of the Association of British Insurers.
AIG adds $458m of Covid-19 losses in Q2
AIG reported an underwriting loss of $343m (£262.8m) for general insurance business in the second quarter of 2020.
PE firms circle AA for takeover talks
Motoring group The AA has confirmed holding takeover talks with three private equity parties as it discusses “a wide range of potential refinancing options”.
FCA warns of action on BI claims deductions
The Financial Conduct Authority has warned insurers making deductions to non-damage business interruption claim payments based on government payouts that it will intervene if firms do not meet its expectations and treat customers fairly.
Hiscox bulks up Covid claims hit estimate as group faces loss
Hiscox swung into a loss for the first half of 2020 as it increased its Covid-19 claims hit estimate.
Alex Williams promoted to MD at i-Wonder
Alex Williams has been appointed at the first managing director of technology firm i-Wonder.
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.
ABI seeks to 'tell the full story' on industry’s Covid response: Huw Evans
The industry should not shy away from the business interruption insurance issue but equally it is not “the be all and end all of the Covid crisis”, according to Huw Evans, director general of the Association of British Insurers.