UK connected motor insurtech Ticker and Abacai Group have partnered to increase Ticker’s capacity and introduce new levels of pricing sophistication, bringing connected insurance to a much wider market. Founded in 2018 and launched in 2019 with the backing of …
Digital motor insurer Marshmallow has raised $85 million from investors, valuing it at more than $1.25 billion and making it one of the first British Black-founded unicorns, the company said on Wednesday. The early-stage funding round was backed by venture …
The cost of a comprehensive car insurance policy in Britain fell 12% in the second quarter to its lowest level since early 2016 due to COVID-19 lockdowns, although it might rebound to pre-pandemic levels as restrictions ease, a survey showed …
The Financial Conduct Authority has set its sights on revamping the UK motor and home insurance marketplace to help customers, especially loyal policyholders, save money. The FCA is proposing reforms of these markets that it says will “enhance competition, ensure …
UK insurer Hasting Group Holdings has agreed to a £1.66 billion (US$2.2 billion) cash acquisition by Finnish insurer Sampo and Rand Merchant Investment Holdings Ltd., a South African financial services investment company. Hastings investors will receive 250 pence for each …
Britain will spend an extra 2.5 billion pounds ($3.2 billion) repairing 50 million potholes in roads over the next five years, the government said ahead of new finance minister Rishi Sunak’s first budget on Wednesday. Sunak is expected to unveil …
U.K. home and car insurers could be stopped from jacking up prices when customers’ policies come up for renewal as the country’s financial-markets watchdog clamps down on an industry that’s not giving a “good deal” to about 6 million customers. …
Providers in the U.K.’s markets for cash savings, mortgages, insurance, mobile phone contracts and broadband are burdening customers with a “loyalty penalty” of around 4 billion pounds ($4.4 billion) a year, the Competition and Markets Authority said. Vulnerable people, including …
ESure Group Plc has received an unsolicited offer of about 1.17 billion pounds ($1.5 billion) from Bain Capital Private Equity LP as private equity firms seek to consolidate the insurance industry. The offer of about 280 pence a share in …
UK motor insurers have voted for the Motor Insurers Bureau (MIB) to handle and pay the claims from victims involved in a terrorist event where a vehicle is used to kill or injure. MIB is the UK’s not-for-profit body which …
