UK market News

Private Investment Firm, J.C. Flowers, Acquires UK General

J.C. Flowers & Co. LLC, a New York-headquartered private investment firm that focuses on investing in the global financial services industry, announced it has acquired UK General Insurance Group Ltd. Completed on May 24, after receiving UK regulatory approval, the …

UK Insurer Ageas Uses Artificial Intelligence to Manage Motor Claims

UK insurer Ageas has begun to use artificial intelligence (AI) technology to help manage its motor claims in partnership with AI specialist Tractable. In what it describes as “a first” for the UK market, Ageas said the technology is now …

Insurance Hub Gibraltar Plans for End of EU Passporting After Brexit

Gibraltar is preparing for a post-Brexit setup in which its firms will have no longer access to the European Union market but will maintain a preferential relationship with Britain, a top Gibraltar financial official said on Tuesday. The tiny British …

More Than 25% of UK Financial Firms Make Plans for EU HQs on Brexit: EY

More than a quarter of major U.K. financial services firms have said they will move staff or operations abroad, or are reviewing their domicile because of Brexit, according to consulting firm EY. That’s a 50 percent increase this year in …

Willis Towers Watson Names Bernstein as Head of Broking, Great Britain

Clyde Bernstein has been appointed as the head of Broking – Great Britain (GB), for Willis Towers Watson’s Corporate Risk and Broking division. He reports jointly to Philip Smaje, global head of Broking, and Alastair Swift, head of Corporate Risk …

Liberty Specialty Markets Names AIG’s Sutherland to Lead Casualty Team

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Stuart Sutherland as its head of Casualty. Based in LSM’s London headquarters, Sutherland will report to Alan Telford, chief underwriting officer – Commercial. Joining in July, he will …

QBE to Move European HQ from London to Continent After Brexit

QBE Insurance Group will move its European base from London to the continent because of uncertainty in accessing the European market after Brexit, the chairman of Australia’s largest international insurer said on Wednesday. “We need to prepare our business for …

Chubb Forms ‘Custom Industry Solutions’ Product, Creates London Region

Chubb announced it has created a “Custom Industry Solutions” product cluster in UK and Ireland, which will bring together its life science, info tech, package and entertainment industry segments. This new product cluster is designed to meet the evolving needs …

UK Car Premiums Rise by 16% to $949 with More Pain Ahead: Willis Towers Watson, Confused.com

U.K. car insurance premiums rose 1.8 percent in the first quarter of 2017, with motorists now paying an average of £781 ($949), which is £110 ($134), or 16 percent, higher than average premiums paid in the same period last year, …

UK MGA Plum Launches High Net Worth Home Cyber Cover

Plum Underwriting, the London-based specialist home insurance managing general agent, announced the launch of cyber and data risks cover embedded within high net worth (HNW) and mid net worth (MNW) home insurance products in the UK. Plum’s Home Cyber covers a …