Insurance news

• Autumn statement: brill for builders, perturbing for pensioners

  23-11-2016 19:41
  
  Philip Hammond’s £2.3bn infrastructure fund is a boon for construction workers, but the pensions ‘triple lock’ may be doomedPhilip Hammond’s first autumn statement has delivered winners and losers. But who are they? Related: Tax avoidance: Philip Hammond pledges to retrieve £2bnRelated: Small businesses give Hammond's autumn statement 6 out of 10 @insidehousing Bad idea - landlords would pass cost to tenants via rent. We're looking at other ways to cut upfront
  
  Read more

• What the chancellor gave the Jams … and what he took away

  23-11-2016 18:29
  
  The autumn statement froze fuel duty, raised personal tax allowances and banned lettings fees. But do the losses outweigh the gains?The gains and losses for the “just about managing” households in the 2016 autumn statement. Continue reading...
  
  Read more

• Robin Reames: An obituary - updated

  23-11-2016 17:42
  
  Robin Reames, the former Swiftcover and Axa claims director, has passed away surrounded by his family at King’s Hospital, London.
  
  Read more

• Robin Reames: An obituary

  23-11-2016 17:42
  
  Robin Reames, the former Swiftcover and Axa claims director, has passed away surrounded by his family at King’s Hospital, London.
  
  Read more

• Advertisement

• Research firm reveals group hardest hit by latest IPT rise

  23-11-2016 16:56
  
  Insurance companies have voiced their disappointment at the IPT rise
  
  Read more

• Industry welcomes £23bn investment in innovation in Autumn Statement

  23-11-2016 16:50
  
  Plans by the government to contribute £23bn toward tech innovation have been welcomed by insurtech firms.
  
  Read more

• Chancellor spreads giveaways thinly for Britain's 'Jams'

  23-11-2016 16:40
  
  The ‘just about managing’ were the focus before autumn statement, but their gains are outweighed by rising bills and pricesThe “just about managing” will have to continue just about managing, with less money, after the feeble set of giveaways in Philip Hammond’s first – and last – autumn statement.The chancellor is deviating little from the austerity path set by his predecessor, George Osborne. For most families, the bigger picture of Brexit, and what su
  
  Read more

• UK government publishes draft ILS regulations

  23-11-2016 16:36
  The UK government today published draft regulations for a new
  regulatory and tax framework for insurance-linked securities (ILS),
  the final version of which will be brought before parliament in
  spring 2017.
  Separately, the government has unveiled plans to raise insurance
  premium tax (IPT) to 12 percent, up from the 10 percent announced
  in the budget in March.
  The draft ILS regulations, which were published alongside the
  Autumn Statement this afternoon, set out proposals for the creation
  of a pro
  
  Read more

• Advertisement

• Lots sought as Insurance Race Day targets £100,000

  23-11-2016 16:36
  Fundraising efforts have begun in earnest to raise more than
  £100,000 ($125,000) in charity funds as the UK market prepares
  for its third Insurance Industry Race Day (IIRD) at Sandown Park
  Racecourse on 2 December.
  The committee, which comprises many senior executives in the UK
  and international (re)insurance market, is appealing for additional
  auction lots to help it hit the ambitious target.
  Lots pledged so far include an all-inclusive sporting dinner for
  10 people with rugby personaliti
  
  Read more

• Insurance premium tax is increased again in autumn statement

  23-11-2016 16:26
  
  Chancellor’s move is branded a ‘hammer blow for the hard-pressed’, with young drivers and those in London expected to be hardest hit
  Insurers and motoring groups have reacted with fury to the government’s announcement that insurance premium tax (IPT) will rise to 12% from June next year. The tax, which is added to 50m general insurance policies each year including those for cars, homes and private medical cover, had been described in the runup to the statement by the indu
  
  Read more

• London Market welcomes proposed ILS reform

  23-11-2016 16:16
  
  The London Market has welcomed the publication by the government of draft regulations for Insurance-Linked Securities for consultation.
  
  Read more

• Sector slams latest IPT rise

  23-11-2016 16:01
  
  Insurers warn that the “outrageous” 2% increase could lead to increased underinsurance as the change is described as an “unwarranted attack”.
  
  Read more

• Government consults on insurance-linked securities rules

  23-11-2016 14:58
  
  Moved aimed at boosting London’s global insurance credentials
  
  Read more

• IPT to go up to 12%

  23-11-2016 14:33
  
  Insurance premium tax to increase from June 2017 and is branded "outrageous" by Biba.
  
  Read more

• Insurance Premium Tax to rise again

  23-11-2016 14:22
  
  Increase to 12% due in June
  
  Read more

• IPT set to rise in June, Chancellor confirms

  23-11-2016 14:19
  
  Chancellor Philip Hammond confirmed the insurance premium tax will rise in June.
  
  Read more

• Generali to to sell off €1bn of assets by 2018

  23-11-2016 13:37
  
  Italy's biggest insurer Generali is looking to leave unattractive markets in a bid to generate €1bn, the firm announced ahead of an investor day meeting this morning.
  
  Read more

• Generali to sell off €1bn of assets by 2018

  23-11-2016 13:37
  
  Italy's biggest insurer Generali is looking to leave unattractive markets in a bid to generate €1bn, the firm announced ahead of an investor day meeting this morning.
  
  Read more

• Munich Re mulls Iran entry

  23-11-2016 13:19
  Munich Re is considering providing its services to Iran
  following the lifting of sanctions at the beginning of the year,
  Iranian media outlet Press TV reported.
  The broadcaster cited an announcement made by Abdul-Nasser
  Hemmati, president of the Central Insurance of Iran, following his
  visit to Germany.
  The official said Munich Re executives, including CEO Nikolaus
  von Bomhard and CEO-in-waiting Joachim Wenning, had said the firm
  was interested in providing life insurance and other related
  servi
  
  Read more

• Generali to sell off EUR1bn of assets

  23-11-2016 13:19
  Generali will leave less profitable markets via disposals in a bid
  to generate at least EUR1bn ($1.1bn) in cash by 2018, the firm said
  ahead of its investor day event this morning.
  It has already disposed of its businesses in Guatemala and
  Liechtenstein, the Trieste-headquartered insurer said in a summary
  statement.
  Investors appeared to be unimpressed with the taster for the
  investor day, with Generali's stock immediately falling by 3.4
  percent to EUR11.25 in early trading.
  Generali will also l
  
  Read more

• Generali to exit between 13 and 15 markets

  23-11-2016 13:19
  Global insurer Generali will sell out of between 13 and 15 markets
  in which it operates in order to generate EUR1bn ($1.1bn) in cash
  by 2018.
  Frédéric de Courtois, CEO of global business lines and
  international, told attendees at Generali's investor day today
  that following a portfolio review it became clear that in some
  markets there wasn't the rationale to continue investing the
  carrier's time and money.
  Generali operates in 40 markets today - eight in the Americas,
  25 in...
  
  Read more

• Go Compare launches telephone blacklist to tackle fraud

  23-11-2016 13:08
  
  Go Compare has launched a telephone blacklist to prevent fraudsters from reaching insurers via the aggregator’s website.
  
  Read more

• North Lanakshire council calls for government task force over Kwikfit site closure

  23-11-2016 12:18
  
  Ageas retail CEO Ant Middle informed staff at Kwik Fit Insurance's Uddingston site yesterday that all 521 staff are at risk of losing their jobs when the site closes in March.
  
  Read more

• Brokers on government SME advisory panel

  23-11-2016 11:59
  
  Insurance brokers have been given a seat on an advisory panel put together by The Cabinet Office under plans to boost government spending with SMEs.
  
  Read more

• Hospitalised Kanye West set to make huge insurance claim

  23-11-2016 11:57
  
  Rapper set for payout after being hospitalised but insurer could question claim 
  
  Read more

• Industry reacts to Autumn Statement

  23-11-2016 11:42
  
  Live reactions from the industry
  
  Read more

• In Focus: Risk managing underinsurance

  23-11-2016 11:35 via insuranceage.co.uk
  
  In part three of our series Sam Barrett explores what brokers can do to ensure SMEs are insured to the right level.
  
  Read more

• HDI launches cyber breach response policy

  23-11-2016 11:31
  
  Product covers risks up to €50m [£42.4m], says the industrial lines insurer.
  
  Read more

• 521 jobs at risk at Kwik Fit Insurance

  23-11-2016 10:33
  
  Ageas has proposed the closure of the broker’s Uddingston office in Scotland.
  
  Read more

• Digital Broker Bristol: Live updates

  23-11-2016 10:29
  
  Stay tuned to news from our Digital Broker event in Bristol with our live stream.
  
  Read more

• Digital Broker Bristol: Catch up

  23-11-2016 10:29
  
  Catch up on news from our Digital Broker event in Bristol.
  
  Read more

• Tackling flood risk needs a collaborative effort, says Flood Re chairman

  23-11-2016 10:19
  
  Insurers, environment agencies and government need to collaborate if they are to tackle the threat of flooding effectively, said Mark Hoban, chairman of the board of directors at Flood Re.
  
  Read more

• Sompo Canopius CEO steps down

  23-11-2016 10:17
  
  Stuart Davies is to leave the insurer effective immediately.
  
  Read more

• Sompo Canopius CEO Davies leaves

  23-11-2016 10:07
  Sompo Canopius group CEO Stuart Davies is to step down with
  immediate effect, the firm announced this morning.
  Michael Watson, founder and currently non-executive chairman of
  Sompo Canopius, will become executive chairman. He will be
  supported by chief underwriting officer Mike Duffy and chief
  financial and operating officer Paul Cooper.
  Davies joined the global specialty (re)insurer in May 2015, leaving
  his role as managing director of Aegis London to replace Inga
  Beale, who had gone on to beco
  
  Read more

• Broking firm urges government to fund telematics research

  23-11-2016 09:34
  
  Trak Global has written to the roads minister ahead of today’s Autumn Statement
  
  Read more

• FCA boss outlines expectations on insurer use of big Data

  23-11-2016 09:21
  
  Andrew Bailey says there should be some limits to its use
  
  Read more

• Outgoing Willis broking boss to pocket $21m

  23-11-2016 08:49
  
  The Willis Towers Watson merger was completed in January this year
  
  Read more

• CEO Davies leaves Sompo Canopius

  23-11-2016 08:44
  
  Stuart Davies is stepping down from his role as group CEO at global specialty insurer Sompo Canopius with immediate effect.
  
  Read more

• Sompo Canopius boss to depart

  23-11-2016 08:22
  
  Chairman Michael Watson will become executive chairman
  
  Read more

• Tourism boom to spur purchasing of travel policies

  23-11-2016 03:34
  
  Total travel insurance premiums are expected to grow 8.5% a year between 2016 and 2022 according to data from global firm Allied Market Research.
  
  Read more

• Global tourism boom to spur purchasing of travel policies

  23-11-2016 03:34
  
  Total travel insurance premiums are expected to grow 8.5% a year between 2016 and 2022 according to data from global firm Allied Market Research.
  
  Read more

• Agents ask Trump to dump the Federal Insurance Office

  23-11-2016 01:44
  President-elect Donald Trump may be a saviour in the eyes of
  American insurance agents, assuming their Washington lobbyists can
  convince him to close the US Treasury's Federal Insurance
  Office (FIO).
  The National Association of Professional Insurance Agents today
  issued a public appeal to Trump to do just that, saying the office
  is an unneeded and burdensome outgrowth of attempts to prevent
  another financial crisis. The Treasury describes the FIO's role
  as in part to ensure that underserved comm
  
  Read more

Follow @Insurance_UKnws on Twitter!