Financial
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News
Sony unit backs Urban Jungle as it raises £11.2m
’This funding is a testament to the hard work of the team,’ says chief executive
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HugHub enters administration following funding problems
’In the absence of any further investment, the board of directors formed the view that the company was or was about to become insolvent,’ says filing
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French embedded insurer gets FCA approval for UK operations
’We’re delighted to have successfully navigated the stringent FCA and PRA processes,’ says group chief executive
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Axa signs new deal with Premier League football club
’This marks a continuation of our proud and enduring story,’ says global brand director
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MGAA announces new member
Its ’products help brokers better protect their trade customers with insurance that is fit for purpose’, says association
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Marsh expands cyber facility to provide more excess insurance capacity
’Organisations are seeking the broadest coverage options beyond what is available in the open market,’ says leader
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Beazley grows IWP by 7% in Q1 2024
The growth came despite a reduction in cyber risks IWP compared to last year
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Supreme Court mixed injuries ruling opens way to dispute resolution adoption
’In three to five years, dispute resolution will be the norm for settling these types of claims,’ says commercial director
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Motor premiums stabilise – but cost to insurers mounts
’These figures show how competitive the motor market is,’ says director
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Gallagher UK and Ireland posts 6% organic growth for Q1 2024
’The teams in specialty all have good momentum, with strong retention and an encouraging pipeline of new business especially in marine and energy,’ says UK chief executive
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PeppercornAI raises more than £3m to develop AI platform
’Technology, specifically AI, has the potential to completely change the way consumers buy and manage their insurance policies,’ says chief executive
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FCA dispels profits myth about Consumer Duty
’We wanted to set higher and clearer standards and want firms to put their clients first,’ says director
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Maksure approved as Lloyd’s registered broker
’We are truly honoured with the Lloyd’s approval,’ says managing director
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Warning as new industry loss estimate for Storm Babet damage issued
’It is likely the warming climate will drive a rise in the frequency of winter flood events,’ says product manager
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Ondo increases LeakBot deployments in UK
’We expect the out turn for the year to be in line with market expectations,’ says chief executive
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MGA secures new long-term capacity deal
The deal ’represents an exciting evolution for our social housing business’, says managing director
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Broker announces another scheme deal with car club
The ’features are specifically designed to support the future preservation and enjoyment of these cars’, says partnerships director
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Motor premiums ‘may be turning a corner’ as prices drop
’The latest pricing data suggests the relentless rise in prices may finally be turning a corner,’ says head
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Comfort revamps breakdown policies with increased limits
’We’ve talked to our policyholders and looked very closely at what they need from our motor breakdown products,’ says general manager
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Amazon Insurance Store officially closes for new business
Amazon said it was closing the store after evaluating a range of businesses and programmes