FTSE 100 insurance giant Admiral sells US business Elephant April 22, 2025 Admiral, the FTSE 100 financial services giant and one of the largest motor insurers in the UK, has agreed to sell its US business, Elephant Insurance, to J.C. Flowers & Co. Founded in 2001 and based in New York City, J.C. Flowers & Co. is run by billionaire J. Christopher Flowers, a former partner at [...]
Serious Fraud Office charges Lloyd’s broker over bribery April 17, 2025 The Serious Fraud Office has accused a UK insurance company of failing to prevent international bribery.
Financial Conduct Authority: Lenders ‘unclear’ on bereavement policy April 14, 2025 Lenders “can improve” their treatment of bereaved customers, the Financial Conduct Authority has said. The City watchdog has published a framework outlining good and poor practice to help firms “provide the right support” to consumers who are facing difficult times. The FCA said the introduction of the Consumer Duty in July 2023 has helped provide [...]
Trump’s tariffs set to drive UK insurance coverage costs up April 4, 2025 After the US slapped several of the world's largest economies with tariffs, the insurance market in the UK prepares for increased costs.
Zurich acquires stake in transactional insurance specialist Icen Risk April 1, 2025 Global insurance giant Zurich Insurance is set to acquire a stake in Icen Risk, a Lloyd’s of London coverholder and a growing player in London’s specialist insurance market. Since it was founded in 2018, Icen has carved out a niche in transactional risk, notably tax and intellectual property risk in complex M&A deals. According to [...]
Compare The Market: Higher premiums help profit pass £200m April 1, 2025 Compare The Market increased its revenue by almost £100m thanks to higher insurance premiums leading to more customers switching providers. The Peterborough-headquartered company has reported a revenue of £563.7m for the year to 30 June, 2024. The figure comes after the comparison site posted sales of £467.5m in its prior financial year. New accounts for [...]
Motor finance: Insurance industry nervously watches legal battle March 31, 2025 As the lenders brace for the start of a high-profile legal battle on Tuesday, the insurance industry lurks in the sidelines
Pittsburgh Steelers’ fintech stadium sponsor Acrisure enters English cricket March 27, 2025 Fintech and insurance firm Acrisure has entered English cricket, striking up a partnership with Nottinghamshire County Cricket Club. The Michigan-based firm, parent of Nottingham-based Russell Scanlan, will see the Trent Bridge Fox Road stand at the England international level stadium renamed the Acrisure Stand for the next three seasons. It will add to their sporting [...]
Lloyd’s reinsurer secures landmark Ukraine reinsurance facility March 21, 2025 MS Amlin, a Lloyd's reinsurer, has secured a reinsurance scheme that could provide up to €1bn (£830m) in annual coverage for Ukraine SMEs
Lloyd’s of London’s profit drops despite premium growth March 20, 2025 Lloyd’s of London, the world’s leading insurance and reinsurance marketplace, has reported a profit before tax of £9.6bn for 2024, a drop from the £10.7bn reported for 2023. The market, which is made up of more than 50 leading insurance companies and over 380 registered Lloyd’s brokers, recorded gross written premiums of £55.5bn for 2024, [...]