Insurance industry

British motor insurance provider Direct Line has firmly rejected a £3.3 billion takeover approach from industry heavyweight Aviva, describing the offer as "highly opportunistic" and significantly undervaluing the organisation's worth.…

In a significant move announced today, Ondo Insurtech's innovative water leak detection system, LeakBot, is expanding its presence across 16 US states through its partnership with Fortune 100 insurer Nationwide Mutual Insurance Company.…

Insurance giant Direct Line has announced plans to cut approximately 550 jobs, representing 5% of its workforce, as part of an aggressive cost-cutting strategy aimed at reviving the troubled insurer's fortunes. The announcement coincides…

Ondo InsureTech, a company specializing in water damage prevention systems for home insurers, is making significant strides in the U.S. market, according to CEO Craig Foster. In a recent interview with Zak's Traders Cafe, Foster detailed…

The City regulator has begun a review of the lending schemes that millions of people use to pay their motor and home insurance in installments. The Financial Conduct Authority announced on Wednesday that they would be scrutinising the…

Aviva, the FTSE 100 insurance giant, faces serious allegations of tax evasion and regulatory violations in India, according to a report by the country's tax authority. The Directorate General of Goods and Service Tax Intelligence claims…

Prudential, the London and Hong Kong-based insurance and investment group, has reported a 6% increase in first-half profit to $1.54 billion, surpassing consensus forecasts of $1 billion. However, the company's growth in key markets such as…

The Financial Conduct Authority (FCA) has announced its intention to launch a comprehensive market study into the £4bn life insurance sector, focusing on pure protection products. This move comes amidst growing concerns that insurance…

As Canadian owner Brookfield Asset Management prepares to auction off PD Ports, a Teesside-based operator with 1,400 staff across 11 UK locations, potential bidders are lining up for the £1.2 billion sale. Investment banks have reportedly…

The chief executive of Admiral, Milena Mondini de Focatiis, has dismissed accusations of profiteering after the company reported a significant increase in first-half profits, driven by higher premiums and substantial cash returns for…

The cost of protecting one's home in the United Kingdom has reached an unprecedented level, with the average combined buildings and contents insurance policy now standing at a staggering £396 per year. This alarming figure, recorded between…

Just Group, a prominent UK life insurer, has announced that it anticipates "substantially exceeding" its full-year profit target following a significant increase in corporate pension deals. This news comes as the latest indication of the…

The collapse of the Baltimore bridge is set to deal a significant blow to Hiscox, one of the biggest insurers in the Lloyd's of London market. The company is expecting a $28 million hit from the disaster, which occurred in March when a…

After last week's global IT outage, the insurance industry has been bracing for possible losses of billions of dollars. This is because the vulnerability of an economy that runs on just a few software platforms was exposed. industries…

Legal & General, a prominent UK-based insurance and asset management group, has announced a significant restructuring plan under the leadership of its new chief executive, António Simões. The company aims to streamline its operations,…

Since the introduction of the 20mph speed limit in Wales last September, vehicle damage claims have decreased by 20% for one leading auto insurer. Wales was the first country in the UK to introduce legislation last year for an automatic…