UK 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 …

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 …

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 …

UK’s Direct Line to List on Price Comparison Websites in Strategy Shift

Direct Line will launch its eponymous motor insurance brand on price comparison websites for the first time, it said on Wednesday, as the company’s new CEO implemented a strategy shift designed to win new business. Adam Winslow, who took over …

Some Insurers Suspend Sales of Car Policies After UK Watchdog Again Intervenes

Britain’s financial watchdog said on Friday several insurers have agreed to suspend sales of policies that cover the depreciation of cars after it said it was worried the deals did not offer value for money. The suspension relates to so-called …

UK Weighs Criminal Liability for Self-Driving Car Companies

Self-driving car companies could face criminal action in the UK if their vehicles fail to meet safety standards in the most serious cases. New legislation, introduced in today’s speech by King Charles III, who arrived at parliament in a horse-drawn …

UK Watchdog Sets 3-Month Deadline to Improve Car Insurance

Britain’s financial watchdog has told motor insurers they have three months to improve the value they give customers in products that top up coverage, or face potential sanctions. The Financial Conduct Authority (FCA) said on Wednesday it had asked insurers …

Car Premiums to Rise Again as British Insurers Feel the Heat

Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects the rest of the market to follow suit, …