Keep up to date with the latest insurance and reinsurance news in our weekly round-up…

 

Lane Clark and Peacock plots takeover of KPMG pensions arm

Lane Clark and Peacock (LCP), one of the UK’s largest independent financial consultancy firms, is preparing a £200m takeover of KPMG’s pension’s advisory arm.

Aon forms Accident, Health & Life practice group for reinsurance business

Re/insurance broker Aon has created a global Accident, Health & Life practice group in its Reinsurance Solutions business to help insurers take advantage of growth opportunities in the sector.

Cyber security breaches to rise 70% by 2024

Cyber security breaches will increase by nearly 70% over the next five years and cost businesses around $5tn (£4tn) annually, up from approximately $3trn today.

Tesla launched a car insurance product, then spent the next 24 hours fixing it

Just a few hours after Tesla launched its in-house car insurance product in California on August 28th, the company stopped offering rate quotes and suspended access to the insurance website.

Pangolin scale medicines no longer covered by Chinese insurance

Traditional medicines containing pangolin scales will no longer be covered by China’s state insurance funds, according to a government announcement.

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