motor insurance News

British Insurer Marshmallow Valued at $2 Billion With BlackRock Backing

British car insurance startup Marshmallow has almost doubled its valuation to more than $2 billion after a funding round that was backed by new investors BlackRock, Columbia Lake Partners and Portage. The firm, which offers insurance to under-served customers such …

When EVs Take Off: AM Best Reviews Impact on China Motor Insurance

Premiums for policies covering new energy vehicles in China have soared to $13.8 billion—a six-fold jump from the level recorded five years earlier, AM Best said in a special report. According to the report, “China’s New Energy Vehicle Boom Transforms …

Young Drivers Warned That Policy ‘Fronting” Is Fraud

One in six (17%) young drivers admit to being on a ‘fronted’ policy, which is illegal, according to research by United Kingdom insurer Aviva. Fronting is a form of insurance fraud where the young driver is listed as a named …

Aviva Agrees to Buy UK Insurer Direct Line for £3.7 Billion

Aviva Plc agreed to buy Direct Line Insurance Group Plc for roughly £3.7 billion ($4.65 billion) in a deal that would create the UK’s largest motor insurer. Each Direct Line shareholder will be entitled to receive 0.2867 new Aviva shares, …

Aviva CEO Amanda Blanc Conquers Detractors and Direct Line

Amanda Blanc is determined to steer Aviva Plc to one of the biggest takeovers in its history, a highlight in a storied insurance career where she’s stood up to challenges including activist shareholders and sexist barbs. If her £3.6 billion …

Aviva Reaches Initial £3.6 Billion Deal to Buy Direct Line

Aviva Plc reached a preliminary agreement to buy Direct Line Insurance Group Plc for £3.6 billion ($4.6 billion) in a deal that would create the UK’s largest motor insurer. London-listed Aviva sweetened its bid in the latest negotiations with Direct …

UK Motor Insurer Direct Line to Cut 550 Jobs in Turnaround Bid

Direct Line Insurance Group Plc, the UK insurer that rejected a takeover attempt by Belgian rival Ageas SA earlier this year, is set to cut about 550 jobs as part of a turnaround plan aimed at saving £50 million ($64 …

Specialist Risk Group Acquires UK Claims Specialist One Claim Ltd.

Specialist Risk Group (SRG), the London-based specialist insurance intermediary, announced the acquisition of One Claim Ltd. Based in Essex, England, One Claim provides broker partners and their clients with claims management support from initial notification through to settlement. The One …

Bain-Backed Motor Insurer Esure Draws Interest from Aviva, Allianz

Aviva Plc and Allianz SE are among potential bidders for Britain’s home and motor insurance firm Esure Group Plc, according to people familiar with the matter. Sampo Oyj, which owns British general insurer Hastings Group, and Belgium-based Ageas have also …

Range Rover Buyers Offered Insurance Cash After String of Thefts

Jaguar Land Rover Automotive Plc is offering to pay part of customers’ insurance costs for new Range Rovers after a string of thefts caused premiums to soar and left some unable to get cover. The British carmaker will provide £150 …