News
Prestige Underwriting has struck a deal to offer non-standard home insurance to Tesco Bank’s customers who find it difficult to obtain standard cover. The insurance, named Coverall, is underwritten by Prestige Underwriting and offered under the group’s Open and Direct brand.
Posted: 2023-11-29
Re/insurer Apollo will launch a new specialty treaty class of business within the reinsurance division of Syndicate 1969 on 1st January 2024. It will focus on credit, mortgage, and surety reinsurance.
Posted: 2023-11-29
Carbon Underwriting Limited has approval from Lloyd’s to increase its stamp capacity for 2024 and said its Syndicate 4747 aims to increase gross written premium from £150m in 2023 to £204m in 2024.
Posted: 2023-11-29
Moveda Underwriting, a managing general agent established by the Movo Partnership, has gone live with capacity from AmTrust and Irwell. The MGA has developed a range of commercial combined, property, and liability solutions with limits of up to £5m.
Posted: 2023-11-28
Aviva has said it uncovered more than 9,250 instances of fraud in 2022 with a value of £120m. The insurer said motor bodily injury fraud accounted for 48% of all fraudulent claims.
Posted: 2023-11-28
Alula Technologies, which is a UK-based firm specialising in solutions for the insurance, healthcare, and pension markets, has acquired cloud-based employee benefits platform, Ovation. Alula said the deal would help it bridge the gap between back-end administration and front-end engagement.
Posted: 2023-11-28
Axa UK is giving contractors body cameras to film footage of remediation work carried out on buildings containing flammable cladding, insulation and other defects, such as missing fire breaks. Investigations made since the Grenfell Tower tragedy in 2017 uncovered defects in thousands of buildings across the UK which now require remediation.
Posted: 2023-11-27
The Forum of Insurance Lawyers has named Peter Allchorne, partner at Beachcroft LLP, as its president for 2024. He has previously chaired FOIL’s motor sector focus team and takes up his post from immediate past president Nicola Critchley, partners and board member at DWF.
Posted: 2023-11-27
The Chartered Insurance Institute is to develop guidance for professionals working with victims of economic abuse. The move follows the release of a report by Surviving Economic Abuse highlighting the impact of some insurance policies on victim-survivors of economic abuse.
Posted: 2023-11-27
Professional services and consultancy business Davies has said significant gaps still exist in the insurance industry around its ability to identify and protect vulnerable customers. Davies said the market could do more to address the needs of a wider scope of vulnerable customers and cater for issues ranging from dementia and poor mental health to financial limitations, lack of digital access and low capability.
Posted: 2023-11-24
Pen Underwriting has taken Box 393 at Lloyd’s which will be manned by marine underwriters, providing brokers with support in placing complex marine risks in areas including brown water hull, war risk and ports and terminals liability. Pen said it has plans to expand the box’s activities into complimentary and additional lines of business.
Posted: 2023-11-24
Lloyd’s has launched a consultation on its proposed strategy for the next three years in relation to its plans on all aspects of sustainability including underwriting, investments, exposure management and capital and reserving. The move is aimed at assisting market participants in developing and aligning their own strategies.
Posted: 2023-11-24
Chancellor Jeremy Hunt has announced a consultation on the creation of captives in his Autumn Statement, highlighting the Government’s support to boost this section of the UK insurance market. The consultation will begin next year.
Posted: 2023-11-23
Research from Premium Credit has recorded an increase in the number of people who are prepared to pay for their insurance policies using credit. The latest Premium Credit Insurance Index found that 21% of adults said they are more accepting of paying for insurance policies with credit than they were a year ago. This was up from the 15% recorded in October 2022.
Posted: 2023-11-23
Quadrassist, which is the building repair network for specialist loss adjuster Woodgate & Clark, has launched a desktop adjuster service to handle claims of up to £10,000 for insurance providers. Plans are in place to increase this limit.
Posted: 2023-11-23
The Medical and Dental Defence Union of Scotland, which provides dental and medical indemnity to over 56,000 professionals, has partnered with insurance software solutions provider Genasys Technologies to support its digital evolution programme. Under the deal, MDDUS will move to Genasys’ flagship policy administration platform.
Posted: 2023-11-22
Lloyd’s insurer Aegis London has expanded its digital trading team with the aim of expanding its digital distribution network and developing new products for this channel. The carrier said a particular focus was to increase the products available on its online platform, OPAL.
Posted: 2023-11-22
The Financial Conduct Authority has warned the market of a company using the web address www.knowyoucan.co.uk, which is seeking to impersonate Axa Insurance UK plc and its fellow group company Axa Investment Managers UK Ltd.
Posted: 2023-11-22
Keoghs, which is part of Davies, has worked with QBE Business Insurance to secure a conviction against Mark Hamilton, who erroneously claimed damages of £600,000 following a workplace accident. He was sentenced to 15 months in prison reduced to 10 months due to early admission.
Posted: 2023-11-21
Leeds-based Marshall Wooldridge Group, which is part of Brown & Brown, has named Nicky Pay (pictured) as managing director. The Group comprises ECS, Rotherham Insurance Brokers, Lawrence Fraser, Goldthorpe and Bush & Associates.
Posted: 2023-11-21
Data from Howden’s latest men’s European football injury index has found that total injury costs across the top five men's European leagues jumped from approximately £484m to £617m, an increase of almost 30%. Howden said the winter FIFA Men's World Cup was a significant driver of this increase.
Posted: 2023-11-21
The Association of British Insurers has called on the Government to reduce the rate of insurance premium tax in this week's Autumn Statement. The industry body said the tax had doubled to 12% since 2015 and hit the poorest the hardest who spend proportionately more on insurance, such as home and motor.
Posted: 2023-11-20
Assured Partners has acquired Somerset-based Atom Insurance Brokers, which was founded in 2002 and specialises in commercial SME insurance. Atom will become part of AssuredPartners-owned PSP Insurance brokers.
Posted: 2023-11-20
Climate risk management specialist Arbol Inc has launched a London-based managing general agent called Arbol Insurance Services - UK. It will provide parametric solutions for the agriculture, renewables, and construction industries, covering seasonal and catastrophic climate risks.
Posted: 2023-11-20
Aviva has reported gross written premium in UK personal lines of £2,147m for the first nine months of 2023. This was up by 20% on the same period last year. UK commercial lines saw gross written premium rise 11% to £2,390m. Aviva’s undiscounted combined operating ratio deteriorated by 1.6 percentage points to reach 96.1% for the period.
Posted: 2023-11-17
Premier Choice Healthcare, which is owned by Brown & Brown (Europe) Ltd, has acquired Buckinghamshire intermediary Homewood Health Ltd, and the health insurance portfolio of Margaret Clark in Peterborough. Both intermediaries write consumer and business healthcare insurance.
Posted: 2023-11-17
Digital risk processing platform Cytora has teamed up with AI specialist Veridon to provide insurers with better insight into a number of business metrics that will help them refine their underwriting decisions.
Posted: 2023-11-17
Re/insurance managing general agent Rokstone, which is part of Aventum Group, has launched Rokstone Sports and Prize. It has an exclusive facility from Allianz Commercial and is targeted at sports firms to provide cover for performance based contractual bonuses and prizes.
Posted: 2023-11-16
Marsh McLennan, in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, have launched a new facility, which will be underwritten by insurers in Lloyd’s. It will provide insurance for the export of grain and other food supplies from Ukraine’s Black Sea ports.
Posted: 2023-11-16
Research from the Chartered Insurance Institute has found that overall consumer satisfaction with insurance policies has hit its joint highest level since the organisations’ Public Trust Index survey began in July 2018.
Posted: 2023-11-16
An operation by the City of London Police’s Insurance Fraud Enforcement Department has led to the arrest of 10 people and the seizure of 18 vehicles in a commercial fraud crackdown. The fraud included bogus claims on motor and business premises insurance, ghost brokers selling fake cover for business vehicles, and fraudulent claims made by employees on corporate benefit plans.
Posted: 2023-11-15
Pen Underwriting has launched an intellectual property insurance proposition following its creation, earlier this year, of a dedicated IP underwriting practice under the leadership of Erik Alsegard. The product is backed by Tokio Marine Kiln and is initially aimed at UK companies with an international roll-out planned.
Posted: 2023-11-15
Brown & Brown (Europe) Limited has acquired HoldCo NHL Ltd, the holding company of Nsure Ltd, which is based in Worthing, West Sussex and has an expertise in renewables. The business will become part of Brown & Brown’s South East retail broker, Greens.
Posted: 2023-11-15
Assured Partners has acquired Leeds-based Romero Group, which includes Romero Insurance Brokers Limited, its subsidiary Sentient Group Limited and Club Insure Limited. The group was founded in 1997 by Justin Romero-Trigg and controls more than £100m in gross written premium. It employs more than 200 people across five regional offices.
Posted: 2023-11-14
Research from WTW has highlighted that insurance industry leaders view high inflation and interest rates, attracting and retaining talent, and digital transformation as the factors that will have the biggest impact on their ability to deliver revenue growth in 2024.
Posted: 2023-11-14
Allianz has announced total business volume of approximately £31.9bn for Q3 2023, which was up by 4.5% on the same period last year. It reported operating profit of £3.1bn, down by 14.6%, which it said was largely driven by a 7.3 percentage point impact by natural catastrophes on the combined ratio, the highest in a decade.
Posted: 2023-11-13
Risk modelling specialist Moody’s RMS has estimated insured losses from Windstorm Ciarán of £0.8bn to £1.3bn. In addition to the UK and the Channel Islands, the storm affected Belgium, Germany and the Netherlands.
Posted: 2023-11-13
Aspen Insurance Holdings Limited has promoted Edward Hart (pictured) to the position of international head of cyber. He joined the business earlier this year as a senior underwriter and has helped to expand the firm’s distribution in in this line of business.
Posted: 2023-11-13
The deadline for the 2024 National Insurance Awards has been extended. Celebrating excellence in the sector, the National Insurance Awards highlight the very best in general insurance provision and management in the UK.
Posted: 2023-11-13
Hertfordshire-based schemes broker Safely Insured has partnered with technology specialist IMS to create a smartphone app-based insurance proposition for its novice driver motor product. The move will replace Safely Insured’s existing black box technology from another provider.
Posted: 2023-11-10
Zurich Insurance Group has announced property and casualty revenue of approximately £25.7bn for the nine months to 30 September 2023. This was up by 9% on the same period last year. In its Europe, Middle East and Africa division, property and casualty revenue was up by 8% to £11.6bn.
Posted: 2023-11-10
Lancashire Holdings Limited has reported gross written premium of approximately £1.3bn for the nine months to 30 September 2023. This was an increase of 23.2% on the same period last year.
Posted: 2023-11-10
Arch International Insurance has launched a London-based intangible assets team, which has joined from Aon following a deal to acquire certain assets from its intellectual property liability MGA business. The team will be led by Ian Lewis who has been named head of intangible assets.
Posted: 2023-11-09
Research from Premium Credit has found that 49% of customers use credit to pay for their home insurance, up from 40% a year ago. It also found that 48% of customers pay for motor insurance with credit compared with 40% last year.
Posted: 2023-11-09
Lloyd’s has detailed plans of a programme entitled, “Inclusive Futures” to provide initiatives that support Black and ethnically diverse people at school and then throughout their careers. The programme is in response to research from John Hopkins University which highlighted the role Lloyd’s played in enabling the slave trade.
Posted: 2023-11-09
Argenta Syndicate Management Limited, part of Argenta Holdings Limited, has promoted Edward Davidson (pictured) to the newly created role of energy transition technology underwriter. Based in London, he will be responsible for Argenta’s energy transition offering to cover risks associated with alternative fuel, carbon capture and renewable energy operations and technologies.
Posted: 2023-11-08
Loss adjuster QuestGates has acquired Bristol-based QCH Legal Ltd, which has a particular focus on liability and property disputes as well as indemnity issues. QCH Legal will continue to operate under its existing brand. QuestGates said further acquisitions were in the pipeline.
Posted: 2023-11-08
The Association of Consumer Support Organisations says regulation by the Financial Conduct Authority has delivered improvements in the claims management sector. ACSO’s latest report into the sector reported a drop in cold calls, a fall in the number of claims management companies and a fall in the number of complaints to the Financial Ombudsmen Service about these companies.
Posted: 2023-11-08
Re/insurance broker McGill and Partners has launched SAIFElimits, which is a new coverage solution for corporate insolvency. The product works in tandem with a primary directors’ and officers’ policy and is triggered automatically by an insolvency event. It provides an extension that keeps protection in place for directors and officers for up to six years during the insolvency process.
Posted: 2023-11-07
Verlingue London Markets has launched and follows the rebranding of specialist Lloyd’s and London market wholesale broker NBJ London Markets. The firm specialises in placing difficult risks for motor fleet, property, and liability. It serves both parent broker Verlingue UK, and a number of independent community brokers across the UK.
Posted: 2023-11-07
Gallagher has acquired Dublin-based broker Keaney Insurance Brokers Ltd for an undisclosed sum. Keaney was founded in 1993. Founder Terry Keaney and the existing management team will continue to oversee the business.
Posted: 2023-11-07
Swiss Re has posted net income of approximately £2bn for the first nine months of 2023 and a profit of £807m. Swiss Re’s property and casualty business reported a net profit of £1.2bn which was up on the net loss of £228m announced for the same period last year.
Posted: 2023-11-06
Howden Scotland has acquired Glasgow-based commercial broker Neilson Laurence & Neil. Howden Scotland formerly traded as Bruce Stevenson before it was acquired by Aston Lark, which was subsequently acquired by Howden.
Posted: 2023-11-06
Stewart McCulloch (pictured) will become the new independent chair of the GTA. He is currently independent secretary of the GTA Technical Committee and will take up his new role on 1st December 2023.
Posted: 2023-11-06
Sunderland-based 1st UK Broking, which is part of iRevolution Group, is to open an office in Stoke-on-Trent in 2024. The broker is a fleet market specialist and is planning to expand its focus to cover a broader range of commercial lines – initially cover for roofers and scaffolders – and to give it a wider base from which to recruit talent.
Posted: 2023-11-03
Claimant Ms Swift has been found to be fundamentally dishonest in the claim she brought against Allianz Commercial relating to a fall which resulted in a broken ankle. The fall and injury were not contested – rather the circumstances in which they had happened. She was found not to have fallen outside her home, as detailed in the claim.
Posted: 2023-11-03
Jensten has completed its acquisition of East Anglia-based One Broker Group, following approval from the FCA. Jensten said it will continue to invest in growing its presence in East Anglia, both organically and through acquisition, with further deals in the region to be announced imminently.
Posted: 2023-11-03
Managing general agent iprism has promoted Aaron Woodhams (pictured) to the position of chief underwriting officer and Bradley Harmer to the role of chief commercial officer. Both men will join the board of the MGA which specialises in HNW, construction, property and commercial covers.
Posted: 2023-11-02
CFC Response, the inhouse cyber response team of insurance provider CFC, has secured accreditation from non-profit, global cyber security industry body CREST for the supply of cyber security incident response services. It has also been named as a National Cyber Security Centre Assured Service Provider for the NCSC Cyber Incident Response Level 2 scheme.
Posted: 2023-11-02
Product and market intelligence provider Defaqto has extended its partnership with MoneySuperMarket and will now display its Star Ratings across the comparison website’s range of core insurance products and not just its travel insurance products. The move will see all motor, home, van, and pet insurance products carry a Defaqto rating.
Posted: 2023-11-02
Online and social media intelligence specialist NetWatch Global is developing an open-source intelligence key risk indicator – OSINT-KRI – to support underwriters in identifying high-risk customers. The technology can be used in real time at the point of quote and is due to launch for BETA testing in the new year.
Posted: 2023-11-01
UK insurtech, Scout, has officially announced its planned rebrand. As Synapse Ecosystems, the organisation’s new identity encapsulates a new symbolism representing the platform's goals of transparency, collaboration and efficiency.
Posted: 2023-11-01
The UK home insurance market recorded a net combined ratio of 122% in 2022 according to EY’s latest UK Home Results Analysis, making it the worst year on record. EY said further losses were expected in 2023 and 2024 and that premiums were forecast to rise by more than a third (36%) during the next two years.
Posted: 2023-10-31
Renewable Energy Loss Adjusters has developed a dedicated marine market proposition. Services include claim adjustment, technical on-site or desktop surveys with access to a global surveyor network, advice on coverage and liability, risk assessment and wordings reviews. The new division will be headed up by CEO, Alan Tucker, who has nearly 30 years’ experience managing marine hull and energy claims.
Posted: 2023-10-31
Flood Re will exhibit at the RHS Chelsea Flower Show 2024. The aim is to bring its flood prevention methodologies to life and provide ideas and solutions for living with extreme weather events and managing water as an asset. Flood Re: The Flood Resilient Garden has been created in collaboration with designers Naomi Slade and Ed Barsley.
Posted: 2023-10-31
NFP has expanded its footprint in the West Midlands with the acquisition of commercial insurance broker Resolute Insurance Services. Resolute’s senior management team will continue with NFP as key producers within the business, with David Cox remaining as managing director working with John Paul Allcock, group managing director of NFP in Europe.
Posted: 2023-10-30
Re/insurance marketplace Llyod’s has announced changes to its Council membership following elections. Sean McGovern, CEO, UK & Lloyd’s at Axa XL, has been elected as a corporate-external member of the Council. Marcus Johnson, deputy chair and director of Kirly Group Holdings becomes individual-external member of the Council.
Posted: 2023-10-30
Student insurer Endsleigh Insurance has struck a deal with Unite Students, a student accommodation provider, to provide 24/7 wellbeing support for 70,000 students. Under the arrangement, students will be able to use Endsleigh’s 24/7 student wellbeing helpline and digital therapy services.
Posted: 2023-10-30
Alan Vallance (pictured), chief executive of the Chartered Insurance Institute, will leave the organisation in Spring 2024 and take up the equivalent position at the Institute of Chartered Accountants in England and Wales. Valance is a qualified chartered accountant and a fellow of the ICAEW. He took up his role at the CII in August 2022.
Posted: 2023-10-27
Specialist health and safety training provider Target Zero has appointed PHL Insurance Brokers to provide commercial insurance services to its clients. Target Zero works with firms in the construction sector as well as in the manufacturing, warehousing, distribution and engineering industries.
Posted: 2023-10-27
The Managing General Agents’ Association has approved Moonrock Drone Insurance for membership. Moonrock was co-founded by Simon Ritterband who struggled to find drone insurance after qualifying as a UAV Pilot. It offers a range of covers for droner users including damage, liability and cyber.
Posted: 2023-10-27
The Chartered Insurance Institute’s New Generation Programme Broking group for 2022/23 has launched a new campaign to address the insurance industry’s talent gap, and common misconceptions around insurance careers. The CII’s programme is a development opportunity for insurance professionals with five or more years’ experience within their field.
Posted: 2023-10-26
The London Market Group has announced that 30 firms and 100 volunteers will take place in its first apprentice discovery programme. The event will promote specialty insurance as a destination career to 65 students over three days of market activities.
Posted: 2023-10-26
Partners& has struck a deal with Shrewsbury-based Beaumont Lawrence & Co, expanding its influence in the Midlands where it already has an established presence in Hereford, Lichfield and Nottingham. Beaumont Lawrence was founded in 1973 and has a team of nine.
Posted: 2023-10-26
Independent claims specialist Fulmar Consulting has acquired loss adjuster Tyler and Co, which was established in 1897 and provides loss adjusting services for art, antiquity and specie claims. Tyler and Co will continue to operate under its existing brand name.
Posted: 2023-10-25
The British Insurance Brokers’ Association has named Shayne Halfpenny-Ray (pictured) as its new head of policy and public affairs. He will be responsible for key elements of BIBA’s policy, representation and lobbying work that was previously led by BIBA’s CEO, Graeme Trudgill.
Posted: 2023-10-25
Marsh has appointed Beth Thurston (pictured) as CEO of UK Risk Management and named Hema Mistry as CEO of its UK Financial and Professional business. The London-based appointments become effective from 1st January.
Posted: 2023-10-25
The latest results from the Gracechurch-BIBA UK Insurers Monitor show that while there is a continuing trend of improving service from insurers, the gap between the best and worst performers is widening.
Posted: 2023-10-24
Jensten has completed the acquisition of Berns Brett, a broker with a team of 40 and a focus on mid-market corporate clients. It has offices in London, West Sussex and Cavan, Ireland. The broker also has a private client division with a dedicated proposition for high-net-worth individuals and sports professionals.
Posted: 2023-10-24
The House of Lords Industry and Regulators Committee is to conduct an inquiry examining the relationship between market regulators and government and exploring their effectiveness and the level to which they are held accountable.
Posted: 2023-10-24
Markel has acquired a 49% stake in managing general agent Certa, which was established in 2019 and focuses exclusively on tax and contingent risk. Markel said the investment would accelerate Certa’s product development and geographical expansion plans.
Posted: 2023-10-23
The Chartered Insurance Institute has announced the 41 people who will take part in the 12th cohort of its New Generation talent programme. The programme is a professional development opportunity for professionals with five or more years’ experience within their field. It is split across four groups – London market, underwriting, broking and claims.
Posted: 2023-10-23
Allianz Commercial has launched its accident and health product, which offers group personal accident and business travel covers, on QuoteSME. It has also added new product features for its Complete Mini Fleet product.
Posted: 2023-10-23
Axa UK wants the UK Government to prioritise self-driving legislation in the forthcoming King’s Speech and has cited research that found the technology could deliver multi-billion-pound savings to the UK by reducing costs related to road collisions.
Posted: 2023-10-20
Lloyd’s has awarded Delegated Claims Administrator status to Loadsure, which allows the insurtech managing general agent to bring claims handling fully in-house and give clients direct access to dedicated Loadsure claims adjusters.
Posted: 2023-10-20
The latest UK Labour Market Trends report from recruitment specialist Harrison Holgate and market data analysts Vacancysoft, shows insurers putting an increased priority on non-IT change roles.
Posted: 2023-10-20
Jensten has acquired the business of White Rose Insurance Solutions, which supports commercial and private clients from offices in Skipton and Settle. It also trades as South Lakes Insurance Solutions from its office in Kendal.
Posted: 2023-10-19
Partners& has strengthened its presence in the North of England with the acquisition of Wigan-based Stephensons Risk Management. The firm has a focus on commercial insurance and risk management and has a 35-year history.
Posted: 2023-10-19
Aviva’s global corporate and specialty team has teamed up with hyperexponential to use its pricing platform, hx Renew to accelerate the speed at which it can build insurance pricing models and create new policies.
Posted: 2023-10-19
Terrorism reinsurer Pool Re has awarded Guy carpenter a renewed reinsurance broking contract for three years, with an option to run to five. The decision follows a competitive tender process.
Posted: 2023-10-18
Carbon insurance company Oka has received ‘in principle’ approval for Oka syndicate-in-a-box 1922 and aims to start underwriting from January 2024. It will be managed by third-party managing agent Asta.
Posted: 2023-10-18
IMS (Insurance & Mobility Solutions), which specialises in vehicle and driving data, has teamed up with High Mobility, which is a data provider to automotive manufacturers. The companies said the collaboration was in response to growing demand from the insurance industry for more data from embedded telematic devices in vehicles.
Posted: 2023-10-18
Insurer Ecclesiastical and managing general agent iprism Underwriting have launched a new digital platform providing cover for smaller not-for-profit organisations. The platform allows brokers to input customer information directly and provides quotes and relevant policy documents.
Posted: 2023-10-17
ABL Group, the Northern Ireland hub of Brown & Brown (Europe) Ltd, has acquired Davison & Associates (NI) Ltd and Davison Lamont Ltd, which are both based in Northern Ireland.
Posted: 2023-10-17
Technology provider Acturis has teamed up with customer lifecycle intelligence platform FullCircl to integrate its SmartBroker solution into the Acturis proposition. The SmartBroker API integration will provide data enrichment to Acturis users to help improve their decisioning and enhance compliance.
Posted: 2023-10-17
In the past 12 months, the average cost of comprehensive motor insurance has jumped by 58% according to the latest Confused.com Car Insurance Price Index in association with WTW. It found that UK motorists are now paying an average of £924 for their cover – the highest level recorded by the index, which launched in 2006.
Posted: 2023-10-16
James Blackham, co-founder and CEO of pay-by-miles motor insurer By Miles has announced he has left the business after six years. Direct Line acquired By Miles earlier this year.
Posted: 2023-10-16
The impact of rising claims inflation and the cost of implementing systems to comply with new consumer regulations are putting added pressure on insurers’ margins, according to a sector report from Bloomberg Intelligence.
Posted: 2023-10-16
Commercial property and casualty re/insurance organisation Sompo International has become a partner of the British Insurance Brokers’ Association. The carrier has more than 9,000 employees and operations in the UK, North America, Europe, Latin America, and Asia Pacific.
Posted: 2023-10-13
The Association of British Insurers has said it is too early to estimate the insured cost of the fire at Luton Airport. It has urged affected policyholders to contact their insurers in relation to damaged vehicles and interrupted travel plans.
Posted: 2023-10-13
A year after launching its Diversity, Equity and Inclusion Blueprint, the Association of British Insurers believes the industry has made progress on improving board diversity and setting targets and insights on neurodiversity, but risks falling behind on apprenticeships.
Posted: 2023-10-12
Brown & Brown Inc has completed its previously announced acquisition of Kentro Capital Limited into the operations of Brown & Brown Europe. Kentro controls more than £500m of gross written premium and group companies include Nexus, Xenia, Millstream, Capstone Brokers and Spectrum Risk Management.
Posted: 2023-10-12
Zurich UK has appointed Jacqui Kelly as permanent head of sales and distribution, a role she has fulfilled in an interim basis since July. The insurer said the move would support its push to drive growth in its retail business.
Posted: 2023-10-12
Open GI has teamed up with underwriting agency Ark Insurance Group and added Ark Combined Liability, a liability and tools product, to its commercial lines panel for brokers. The product is available on Open GI’s Micro platform, which focuses on e-traded commercial lines.
Posted: 2023-10-11
Insurance legal services specialist Minster Law has launched a new customer onboarding platform to streamline and simplify the personal injury claims registration process. The system automatically modifies the process to the specifics of each claim.
Posted: 2023-10-11
X-Press Legal Services has teamed up with insurance provider LPG to offer its Home Buyer Protection product to all firms with which X-Press partners. The product enables conveyancers to mitigate the financial costs of failed property transactions for their clients.
Posted: 2023-10-11
Risk management specialist CRIF has launched Pet Check, which is a service to enable insurers to validate a pet’s details including its age, breed, sex, species, breed and pre-existing conditions. The service also gives details about policyholders’ claims histories.
Posted: 2023-10-10
Evolution Claims Management has partnered with Claim Technology to use its AI in processing customer claims. The partnership will see Evolution use digital wallets to create a new channel for customer engagement, with embedded support for Claim Technology's 24/7 self-serve and conversational AI capability.
Posted: 2023-10-10
Reinsurance broker Gallagher Re has named Jonathan Allard (pictured) as managing director and head of its newly created global credit and political risk team, based in London. He joins from Renaissance Re where he was vice president of underwriting.
Posted: 2023-10-10
Partners& has announced its results for the year ending 31st March 2023. The firm reported group turnover of £34m, up from £22m the previous year. It said adjusted EBITDA before restructuring costs was a £3.8m profit in comparison to the £4.6m loss reported last year.
Posted: 2023-10-09
Insurance services provider Europa Group, which specialises in the motor manufacturer and motorcycle markets, will migrate its core insurance retail systems to CDL Strata, using AWS cloud-hosting. The move will take place as part of a five-year deal signed by Europa and CDL.
Posted: 2023-10-09
Jensten London Markets, the Lloyd’s broking division of Jensten Group, has expanded its leadership team with three senior hires. Marie Thomas-White joins the business as head of liability broking, Steve Murphy takes up the role of head of property broking and Ally Templeton joins as head of motor fleet broking.
Posted: 2023-10-09
The Lloyd’s Market Association has today published two sanctions suspension clauses. The release of LMA3100A and LMA3200 are the result of a 12-month consultation across the insurance industry and specialist sanctions lawyers, as well as with regulators OFAC and HMT, and the French Insurance Association.
Posted: 2023-10-06
Brown & Brown (Europe) Ltd has completed its acquisition of 100% of the share capital of Berkeley Insurance Group, in its first UK broking acquisition since it rebranded from Global Risk Partners Ltd last month.
Posted: 2023-10-06
A poll of UK brokers conducted by specialist insurer CFC showed that IT departments are the number one obstacle to overcome when it comes to selling cyber policies. Almost half (49%) said that they had encountered a challenge from their client’s IT lead or department, stating that they “didn’t need” cyber insurance.
Posted: 2023-10-05
The latest Quarterly Insurance Price Index from Pearson Ham Group has identified significant motor and home insurance price increases in the last quarter creating an unprecedented rise in pricing in the last year.
Posted: 2023-10-05
Seventeen Group has announced overall group income of £31.2m for 2022, up 19% on the previous year. It said EBITDA of £6.4m for 2022 was up by 34% on the previous year. The firm completed 4 acquisitions during the year, and when taken into account, they boosted EBITDA to £7.6m.
Posted: 2023-10-04
Managing general agent Direct Commercial Limited has teamed up with technology provider Open GI to launch its commercial motor product, Haul in One on Open GI’s cloud-based platform IHP Plus. This is the first Direct Commercial product to be made available via Open GI.
Posted: 2023-10-04
Specialty re/insurance broker McGill and Partners has signed a heads of agreement with M&G to move into a brand-new office space at 40 Leadenhall London. McGill and Partners will sign a 16-year lease on 43,000 sq ft of office space – an increase of more than 50% on its current footprint.
Posted: 2023-10-04
The Credit Hire Organisation has commissioned technology provider Percayso Inform to build a new anti-fraud platform for the trade organisation’s members. The CHO said the platform would enable subscribers to screen claims in order to manage and identify fraudulent activity.
Posted: 2023-10-03
Insurtech Ripe has reported turnover of £27.2m for 2022, an increase of 17% on the previous year. It said it has also increased policyholder numbers by 12% to 315,000, although it said its gross profit margin had fallen by 9% on last year.
Posted: 2023-10-03
Polo Managing Agency Limited has assumed management of medical professional lines specialist, Coverys Syndicate 1975. The move follows the decision in 2021 by Coverys Managing Agency Limited to place the syndicate into run-off.
Posted: 2023-10-03
Research from WTW has found that insurers face significant post-implementation challenges after reporting half-year results under IFRS 17 for the first time. The study polled 235 insurers from 37 countries/markets and nearly all said the change had impacted their ability to pay dividends.
Posted: 2023-10-02
Inner London Crown Court has granted a confiscation order against Hamid Sediqi, who was jailed in 2021 after orchestrating more than 60 fraudulent motor insurance claims. He was given three months to pay £210,000 following proceedings brought by the City of London Police’s Insurance Fraud Enforcement Department.
Posted: 2023-10-02
Digital and transformation specialist Agile Developments Group has teamed up with Artura Consultancy to launch the Artura Claim App, alongside a customised version of the Agile Claim portal and dashboard. The app aims to help insureds make first notification of loss reports and supply all the relevant data required.
Posted: 2023-10-02
The British Insurance Brokers’ Association has extended its Find Insurance Service for life and protection, which is a cross-industry initiative that has assisted more than 30,000 people since 2020. The agreement, which has 39 signatories, has been renewed for another three years. Signatories include industry bodies, protection insurance groups, insurers, brokers and charities. The Association of British Insurers is a new signatory.
Posted: 2023-09-29
Partners& has increased its presence in the South East region by agreeing an alliance with Hall Insurance Services, which is based in London and has been trading for more than 25 years.
Posted: 2023-09-29
Argenta Syndicate Management Limited, a subsidiary of Argenta Holdings Limited, has selected Moody’s ESG insurance underwriting solution to help it become a net zero business across operations, products and investments.
Posted: 2023-09-29
Ecclesiastical Insurance Office plc, which has businesses in Canada, Australia and the UK and Ireland has reported a profit before tax for the period of £10.2m, (H12022: loss of £25.7m), which it said was largely due to a £80.3m increase in the net investment result to £14.7m.
Posted: 2023-09-28
The Insurance Institute of London has announced that Dominick Hoare (pictured) has been elected as president for 2023/24. Hoare is the group chief underwriting officer of the Munich Re Syndicate (formerly the Watkins Syndicate), which is managed by Munich Re Syndicate Ltd.
Posted: 2023-09-28
Consultancy firm NTT Data UK&I has called on the Financial Conduct Authority and the Prudential Regulation Authority to go further in their proposed measures to improve diversity and inclusion in the insurance sector.
Posted: 2023-09-28
Insurer Hiscox has consolidated the leadership of its 7 UK regional branches into 4 larger regions – North, Midlands, South and London. It has confirmed the following appointments of regional managers for each. Chris Hanson for the North, Alex Bailey for the Midlands, Laura Garrard for the South and Darren Love for London.
Posted: 2023-09-27
Re/insurer Canopius has agreed a partnership with AdvantageGo, to use the technology provider’s “Underwriting” workbench application across all lines of insurance and reinsurance business underwritten within its Canopius UK and London Market teams.
Posted: 2023-09-27
Three quarters of brokers saw an increase in commercial motor business last year and 90% say they will see growth in commercial motor over the coming year according to data from the latest Broker Barometer from Direct Commercial Limited.
Posted: 2023-09-27
The Financial Conduct Authority and the Prudential Regulation Authority have published proposals to boost diversity and inclusion and support healthy work cultures, reduce groupthink and unlock talent. The proposals also aim to drive better internal conduct at firms and improve understanding of diverse consumer needs.
Posted: 2023-09-26
Aviva plc has purchased AIG Life Limited, from Corebridge Financial, a quoted subsidiary of American International Group, for £460m. AIG Life is home to the AIG’s UK protection business and has 1.3m individual protection customers and 1.4m group protection members.
Posted: 2023-09-26
Iprism, an MGA specialising in construction, property commercial and high net worth insurance, has snapped up fellow MGA, SK Underwriting Limited. Kent-based SK Underwriting was formed in 1999 and focuses on commercial property covers.
Posted: 2023-09-26
Independent broker the Clear Group has announced the acquisition of Miles Archer Limited, a Kent-based regional broker established in 2001 which specialises in property owners' insurance. Clear is backed by Goldman Sachs, employs more than 650 staff and controls annual gross written premiums of more that £300m.
Posted: 2023-09-25
Pet insurance specialist Tedaisy Insurance Group has announced the appointment of Louise Walker (pictured) as chief financial officer. She comes from insurtech Zego, where she served as vice president of finance.
Posted: 2023-09-25
Specialty insurer Markel has said its partnership with insurtech Cytora has delivered a 113% increase in productivity (measured by gross written premium per full-time employee) for its underwriting team and enabled it to cut average quote turnaround times from 1 day to 2 hours.
Posted: 2023-09-25
The Financial Conduct Authority has written to all insurance firms reminding them of their need to check that their products provide fair value to customers and highlighting the fact that some guaranteed asset protection products may be failing to provide such value.
Posted: 2023-09-22
Tokio Marine HCC – Specialty Group, a member of the Tokio Marine HCC group of companies, has incorporated its crisis management insurance team into its international division to make it easier for brokers to access the range of covers offered by these two business units.
Posted: 2023-09-22
The Lloyd’s Market Association has announced the launch of its Environmental, Social and Governance Academy for professionals within the Lloyd's market and the global re/insurance sector. Its courses will be accessible online, virtually and in-person.
Posted: 2023-09-22
Brown & Brown (Europe) Ltd, which is part of Brown & Brown Inc, has agreed to acquire 100% of the share capital of Occam Underwriting Limited, a London-based MGA and Lloyd’s coverholder. The deal has received regulatory approval, although the consideration is undisclosed.
Posted: 2023-09-21
Broker Verlingue has added two client directors to its newly established Birmingham office as it seeks to expand across the Midlands and South West regions. James Hall (pictured) joins from Gallagher and Sam Foster joins from PIB Group.
Posted: 2023-09-21
Lloyd’s, on behalf of the Sustainable Markets Initiative’s Insurance Task Force, has announced a partnership with the United Nations Capital Development Fund to improve access to insurance for climate-vulnerable countries.
Posted: 2023-09-21
Hughes Insurance will invest £2m over the next 5 years to develop its commercial offering to SMEs. The Northern Irish broker said the UK’s commercial insurance market had grown by 7% annually since 2017 and this had underpinned its decision to put added focus on supporting SME customers.
Posted: 2023-09-20
Not-for-profit and faith insurance specialist Ansvar has raised concerns that underinsurance is rife for the 13,000 village halls and centres across England, Scotland and Wales. It said inadequate cover could see some centres face closure in the wake of a significant loss.
Posted: 2023-09-20
Paymentshield has developed a referral process for advisers to enable their clients to complete quotes and buy insurance directly. Paymentshield said the move was to encourage advisers to discuss home insurance with clients, but to let them complete the purchase in their own time.
Posted: 2023-09-20
Greenwood Moreland, which is part of JMG Group, has acquired Glasgow-based Calcluth & Sangster Insurance Brokers in a deal that will add £6m of gross written premium to the business. The existing team will move over to Greenwood Moreland and trade under that brand.
Posted: 2023-09-19
Machine Learning Programs, which is part of Open GI Group, is parting company with co-founders Tom Murphy and Julian Holloway who will leave the business in December. Damian Baxter will continue as CEO while co-founder Breanndán Ó Nualláin will become chief information and technology officer.
Posted: 2023-09-19
Glasgow-based commercial insurance broker Hubb has rebranded as Taveo in a move it says reflects its core principles of transparency, efficiency and value. The intermediary launched in 2019 and offers commercial vehicle, commercial property and business insurance covers.
Posted: 2023-09-19
The Ardonagh Group and Markerstudy Group have agreed a merger between Markerstudy and Atlanta Group, Ardonagh’s personal lines broking business. The deal will create an organisation controlling gross written premium of more than £3bn and employing around 7,300 people across the UK.
Posted: 2023-09-18
Sompo International has named a new leadership team for its UK commercial P&C insurance business. The re/insurer has named Bob Thacker as CEO, commercial P&C insurance, Sompo International, UK. Ian Keegan will be responsible for the London Market wholesale and specialty division and Mike Reid will lead the UK commercial lines division.
Posted: 2023-09-18
Allianz Holdings has appointed Henry Topham as the managing director of its UK Retail business, following the announced departure of Heather Smith. Topham will take up his position on 1st October and report to Serge Raffard, managing director of Allianz Personal Lines. His appointment is subject to regulatory approval.
Posted: 2023-09-18
Pricing consultancy Pearson Ham Group has said motor insurance premiums hit an all-time high in August when they were 41% higher than the same month last year. The analysis found that motorists were quoted an average insurance price of £511, which equated to an increase of 4.8% on the previous month.
Posted: 2023-09-15
Lloyd’s has teamed up with Moody’s Analytics to develop a way of quantifying greenhouse gas emissions across managing agents’ underwriting and investment portfolios. The aim is to provide a tool that will help managing agents to meet expected regulatory reporting requirements.
Posted: 2023-09-15
Insurer Hiscox has launched a nationwide brand campaign aimed at SMEs and brokers. The campaign is running across 17 UK towns and cities and will be featured in traditional media spaces as well as a number of purpose-built outdoor advertising installations.
Posted: 2023-09-15
Global Risk Partners Limited has rebranded to Brown & Brown (Europe) Limited and will use Brown & Brown branding going forward. The move follows Brown & Brown’s acquisition of GRP, which was announced in March 2022 and completed that summer.
Posted: 2023-09-14
WTW has appointed Gaby Joyner as head of Great Britain following the retirement of John Ball in August this year. Joyner has been with the company for 23 years and is currently head of WTW’s employee experience business for Europe. She will continue in this role as well as taking on the additional responsibilities of her new position.
Posted: 2023-09-14
Legal & General has launched an online claims capability, available through its self-service protection portal, My Account. Customers can submit a claim and any supporting information digitally and then track the claim’s progress.
Posted: 2023-09-14
Jensten has acquired One Broker Group, which has offices in Norwich and Cambridge and brings 115 staff and £60m in gross written premium to the group. The deal, which is subject to regulatory approval, will see Jensten’s total staff count hit 800 and take its gross written premium to more than £500m.
Posted: 2023-09-13
The British Insurance Brokers’ Association has launched a new latent defects (structural warranties) scheme provided by independent broker GBW. The new scheme offers specialist building warranty cover tailored for the property development and construction industry.
Posted: 2023-09-13
Moody’s RMS has announced the launch of its Cyber Industry Steering Group to develop industry initiatives that respond to the growth of the global cyber insurance market. Moody’s said Munich Re, Gallagher Re and global cyber risk management firm Bitsight had joined the group, with other industry partners to follow.
Posted: 2023-09-13
Cyber re/insurance and analytics specialist Envelop Risk has launched its Cyber Partnership Platforms - a programme for cedents wishing to either enter the cyber risk market or expand their existing participation.
Posted: 2023-09-12
Policy administration software provider Ignite Insurance Systems has increased its headcount by 40% in the past nine months with a focus on boosting its capabilities in the following three areas: new business, client support and research and development.
Posted: 2023-09-12
Legacy solutions provider Riverstone International has agreed to acquire Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland. The carrier has two main portfolios - a UK motor book and a German med-mal book.
Posted: 2023-09-12
Insurtech UK, which is the trade association for the insurtech sector, has announced the appointment of Melissa Collett as its first CEO. In May, she stepped down from her role as executive director for professional standards at the Chartered Insurance Institute.
Posted: 2023-09-11
Inari, which specialises in providing technology infrastructure for the re/insurance sector has raised £4.15m as part of a seed round led by Caixa Capital Risc, through Criteria Venture Tech. Part of the capital will be used to expand the Barcelona-based company’s team in London.
Posted: 2023-09-11
Conduit group has teamed up with software provider Phinsys and licensed a suite of products that will help the carrier to structure its finance operations. The new platform implementation includes provision for IFRS 17 requirements that took effect at the start of the year.
Posted: 2023-09-11
Lloyd’s has reported an underwriting profit of £3.5bn for H1 2023. This was up from the £1.2bn recorded for the same period last year. It announced profit before tax of £3.9bn (2022: loss of £1.8bn) and a combined ratio of 85.2% (2022:91.4%).
Posted: 2023-09-08
Acrisure has snapped up managing general agent Modus Underwriting Ltd, which offers fully automated, e-traded insurance products to its partner brokers. Modus is now an appointed representative of Acrisure and will continue to operate under its existing brand and management team, led by Simon Read and Scott Banks.
Posted: 2023-09-08
Professional services and technology business Davies will deliver the training and support of over 200 apprentices across a range of insurance and financial services firms after Babington Business College Limited announced its exit from delivering financial services apprenticeship standards.
Posted: 2023-09-08
Insurtech accelerator hub, Lloyd’s Lab has announced “Asia-Pacific Climate Risk, Cyber and Sustainability” as the theme for its 11th Cohort. The themes of “Data and Models” and “New Products” will be carried forward from the previous cohort. Each of the 12 chosen insurtechs will be aligned to one of the three themes.
Posted: 2023-09-07
Marsh McLennan has appointed Nick Harris as CEO, UK Retail, Marsh, and Ailsa King (pictured) as chief commercial officer, Marsh McLennan UK. Both will be based in London and report to Chris Lay, CEO, Marsh McLennan UK and CEO Marsh UK. Harris will take up his role on 1st January 2024, subject to regulatory approval. King’s appointment is effective immediately.
Posted: 2023-09-07
Digital commercial insurance platform Aurora has secured an additional £2.5m in funding to accelerate its Algorithmic Trading proposition. The sum is made up of support from Innovate UK, the UK’s national innovation agency, and an equity raise.
Posted: 2023-09-07
Castle Insurance, which operates as the North East hub of Global Risk Partners Limited, has acquired 100% of the share capital of Square Circle Brokers Limited, a Durham-based independent commercial broker. Square Circle has a particular focus on arranging motor fleet, commercial combined, combined liability and property owners’ cover.
Posted: 2023-09-06
Specialist MGA and broker services platform, OneAdvent has completed a management buyout, to boost its UK and European market presence and product offering. The buyout team is led by current managing director Tim Quayle, who becomes CEO.
Posted: 2023-09-06
Lloyd’s syndicate Carbon Underwriting Limited has named Rupert Atkin (pictured) as its new chairman. He replaces Stephen Card who has stepped down after five years in the role.
Atkin is also chairman of Ark Managing Agency and Whitespace and a director of Amwins Group Inc and Alwen Hough Johnson. He was previously chairman and CEO of Talbot Underwriting Ltd.
Atkin is also chairman of Ark Managing Agency and Whitespace and a director of Amwins Group Inc and Alwen Hough Johnson. He was previously chairman and CEO of Talbot Underwriting Ltd.
Posted: 2023-09-06
Data from the Chartered Insurance Institute has found that overall customer satisfaction with travel insurance policies (87%) has hit its highest level since it began its Public Trust Index survey in 2018. Despite this, there has been a downward movement in satisfaction among those aged 55 and over.
Posted: 2023-09-05
Underwriting and broking platform provider Quotech has partnered with data company Tensorflight. Quotech users will now have access to high-resolution property-risk data and imagery to assess individual and aggregate exposures.
Posted: 2023-09-05
Polo Managing Agency has signed a deal with DXC Technology to use its artificial intelligence and machine learning powered solutions. The collaboration will help Polo align its offering with Blueprint Two, Lloyd’s of London’s modernisation strategy.
Posted: 2023-09-05
Direct Line Insurance Group plc is undertaking a past business review relating to pricing in motor insurance and home insurance following the implementation of the Financial Conduct Authority’s pricing practices regulation from 1 January 2022. The insurer estimates the redress payments to affected customers will be approximately £30m.
Posted: 2023-09-04
Digital risk processing platform Cytora has partnered with CAPE Analytics, which specialises in providing AI-powered property insights. Its commercial property data APIs will be accessible on the Cytora platform to help insurers assess and manage risks associated with commercial properties.
Posted: 2023-09-04
The International Union of Marine Insurance has completed research to address concerns about the level of danger associated to electric vehicle fires. IUMI has said such fires are not more dangerous than those in traditional vehicles and has published recommendations of best practice for the safe carriage of EVs.
Posted: 2023-09-04
World Nomads Travel Insurance has signed a deal with student discount specialist Student Beans to offer a 10% discount on travel insurance to students and post-graduates in the UK & EU. Insurance options available cover travellers for medical evacuation, cancellation, baggage, and over 200 adventure activities.
Posted: 2023-09-01
Fusion Specialty has promoted Samuel Shirley (pictured) to the dual role of managing partner, M&A, Fusion Specialty UK, and global chief underwriting officer, M&A. Shirley joined from Aviva in 2022 and was instrumental in launching Fusion’s UK operation.
Posted: 2023-09-01
Zurich UK has announced that it has appointed Hilary Bates to the role of chief compliance officer. The move is internal and she joins from Australia where she was chief operating officer of Zurich Financial Services across Australia and New Zealand.
Posted: 2023-09-01
Aviva has named Jason Storah (pictured) as CEO of its UK & Ireland General Insurance business. He was previously CEO of Aviva Canada. Tracy Garrad will take up the role of CEO of Aviva Canada. She was previously CEO of Axa’s UK healthcare business.
Posted: 2023-08-31
Direct Line Group has named Adam Winslow as its new CEO, subject to regulatory approval. He is expected to take up the role in Q1 2024 and will succeed Jon Greenwood who has been interim CEO since January 2023. Winslow joins from Aviva, where he was CEO of its UK and Ireland business.
Posted: 2023-08-31
Kingfisher Insurance has snapped up Shepherd Compello’s motorsport book, which will now become part of its specialist motorsport broking brand, Reis Motorsport Insurance. Kingfisher acquired Reis earlier this year.
Posted: 2023-08-31
The British Insurance Brokers’ Association, the Association of British Insurers and the Government have renewed their Signposting Agreement which aims to support older people to find the travel and motor insurance they need. The agreement was originally made in 2012 and then reviewed and renewed in 2015 and 2019.
Posted: 2023-08-30
Howden company Aston Lark has acquired Plymouth-based marine insurance broker, Curtis Marine. It will become part of Howden’s marine practice which trades under the name, Haven Knox-Johnston. Curtis Marine has provided marine insurance in the South West region for 40 years.
Posted: 2023-08-30
Research from Synectics Solutions has found that motor insurance ghost brokers concentrate their efforts on rural postcodes that typically have smaller populations, fewer registered vehicles, lower claim incidences and cheaper premiums.
Posted: 2023-08-30
Broker and risk management consultancy Gallagher has launched Student Assist, which offers universities and student accommodation providers with cover against property damage, and their resident students with personal belongings insurance.
Posted: 2023-08-29
Charles Taylor, which provides insurance services, claims and technology solutions, has named Steven Beard as group president. He will take up his position on 1st September and joins from Ardonagh Specialty where he was chief financial officer.
Posted: 2023-08-29
Pen Underwriting has announced a new multi-year capacity deal that will enable it to write in excess of £100m of UK solicitors’ professional indemnity over the next three years. It will use the new capacity to continue providing primary cover of up to £3m to insureds ranging from sole practitioners to firms with 20 or more partners.
Posted: 2023-08-25
The Financial Conduct Authority has cancelled Insure 24/7’s regulatory permission after the Manchester-based broker failed to supply the mandatory returns and did not respond to numerous communications from the regulator.
Posted: 2023-08-25
Insurtech Careless Insurance, which specialises in providing cover for personal belongings, has joined Stubben Edge’s appointed representative network. Careless was founded by André de Neergaard and Scott McKenna in 2022.
Posted: 2023-08-25
Managing general agent Qlaims has expanded its cover to include new subsidence claims and to expand its geographical footprint and accept risks in Northen Ireland. The changes were introduced in response to broker feedback.
Posted: 2023-08-24
A fraudster has received a 12-month community order and 150 hours of community service after being found guilty of four charges relating to fraud by false representation in relation to fraudulent claims made against Alluanz and LV=.
Posted: 2023-08-24
Global risk specialist, Inherent Risks has launched a medical evacuation and crisis response product for individuals and groups working in Ukraine that provides cover based on the days spent in the country.
Posted: 2023-08-24
Hiscox has appointed Gareth Hemming as its new chief distribution officer for Hiscox UK. He joins from Aviva, where he held the same position. Based in Manchester, he will report to Jon Dye (pictured), CEO of Hiscox UK.
Posted: 2023-08-23
Car Care Plan Limited has acquired the assets of motor broker Verex Insurance Services Ltd and its appointed representative Verex Assistance Ltd after the companies were put into administration. Gary Pettit of PBC Business Recovery and Insolvency has been appointed as administrator.
Posted: 2023-08-23
Lloyd’s has announced that its Underwriting Room and Galleries 1 and 2 will reopen on 18th September following their closure in July for refurbishment. Events in the Old Library will also recommence from 18th September while tours of the building will begin again the following week.
Posted: 2023-08-23
Managing general agent Pen Underwriting has implemented IHP Plus, which is Open GI’s cloud-based insurer hosted pricing solution. Under the three-year deal Pen Underwriting will use IHP Plus for personal lines and specifically its range of home products.
Posted: 2023-08-22
Aqueous Underwriting has secured A+ rated capacity to launch a new excess layer product for solicitors professional indemnity. Available for firms with at least two UK partners and fee income of up to £5m, the product has limits of up to £5m and can write layers attaching from £2m for partnerships and £3m for limited liability partnerships.
Posted: 2023-08-22
Aston Lark Ireland has struck a deal to acquire Dublin-based Kegra Limited (Finance Solutions), which was founded in 2011 by Ken Murray and operates as a financial services intermediary. The deal will bolster Aston Lark Ireland’s overall offering to clients.
Posted: 2023-08-22
Delegated underwriting technology specialist VIPR has appointed Martin Blackburn as chairman. The company said his diverse background within software companies and tech-enabled services companies, combined with his experience in the insurance sector and at UK government level, made him an excellent fit for the business.
Posted: 2023-08-21
Marsh has said it has reached agreement to acquire Honan Insurance Group Pty Ltd, which specialises in corporate risk, employee benefits, and strata and real estate insurance. The deal will bolster Marsh’s Asia-Pacific operations.
Posted: 2023-08-21
AbbeyAutoline has teamed up with Belfast Metropolitan College to launch an apprenticeship programme that will offer apprentice sales advisors the opportunity to achieve a recognised Level 2 and 3 NVQ in Financial Services and work full-time as part of the company’s in-branch personal lines sales team.
Posted: 2023-08-21
Specialist Risk Group has acquired Cheshire Risk Brokers, which was established in 2010 by Dominic Leach and Victoria Benito. Based in the North West, Cheshire Insurance Brokers specialises in proving insurance solutions to recruitment agencies. It also supports commercial, professional services and high net worth clients.
Posted: 2023-08-18
Appointed representative network Gauntlet has joined Brokerbility Network and left Willis Towers Watson Networks. The firm said the move would give its appointed representatives better access to the schemes they needed following the launch of its start-up proposition, Gauntlet Brokerage Builder.
Posted: 2023-08-18
Aviva plc has reported an operating profit of £715m in its interim H1 results for H1 2023. This was up by 8% on the £661m posted for the same period last year. The insurer said its UK and Ireland general insurance operating profit was 41% higher at £230 million.
Posted: 2023-08-17
For the six months ended 30th June 2023 Admiral Group reported profit before tax of £233.9m, up 4% on the £224.6m reported in the same period last year. Insurance revenue increased by 14% to £1.61bn and group customers increased by 4% to 9.4 million people. In the UK, insurance customer numbers increased by 1% to 7 million people.
Posted: 2023-08-17
The Fortegra Group has named Edward Peña as chief financial officer. He will take up the position from Mike Grasher, who will become executive vice president, international business development. The changes will take effect on 28th August. Fortegra joins from Liberty Mutual where he was CFO in the company's global retail markets division.
Posted: 2023-08-17
MGA Arrow Risk Management has launched a financial and professional lines underwriting practice and recruited Andrew Wood and Ben Cubitt to build the new book of business. Both men join from International General Insurance and will begin underwriting at the completion of their contractual notice periods.
Posted: 2023-08-16
Total loss vehicle management specialist e2e has partnered with data and analytics solutions provider Incited. The collaboration will enrich e2e’s management information and reporting function and enable clients to drill down into the data, select their own data ranges for comparison analytics, monitor KPIs and benchmark their results against anonymised market data.
Posted: 2023-08-16
Telematics specialist ABAX has extended its partnership with fleet insurance provider Zego. Through the partnership, ABAX offers customers the opportunity to benefit from usage-based cover to enable maximum control of costs.
Posted: 2023-08-16
Allianz Commercial has appointed Simon Hanley as regional manager, South and named Caroline Donati (pictured) as in-coming branch manager for Southampton, She will take up the position in October. Hanley has been with Allianz since 2005. Donati has 20 years of industry experience and joins from Aviva, where she was senior broker development manager.
Posted: 2023-08-15
AbbeyAutoline has relocated its Newtownards branch to a new town-centre premises as part of an ongoing drive to bolster its high street portfolio and reaffirm its commitment to in-person trading. The firm employs 440 staff located in 15 branches across Northern Ireland.
Posted: 2023-08-15
Covéa Insurance, the UK division of Covéa Group, has joined GAIN, the group for autism, insurance, investment and neurodiversity. The move will see the two organisations work together to help Covea Insurance evolve its workplace.
Posted: 2023-08-15
Lancashire Holdings Limited has reported its results (under IFRS 17) for the six months ended 30 June 2023. It posted gross written premium of approximately £934m, up from £740m in the same period last year. Profit after tax jumped to £126m, up from last year’s figure of £24m.
Posted: 2023-08-14
RSA Insurance has appointed James Godfrey to the newly created role of transformation director. He will be responsible for driving the UK&I strategic transformation roadmap and investment profile as well as for the delivery of enterprise-wide programmes to future-proof the insurer’s technology, digital and data capabilities.
Posted: 2023-08-14
The National Insurance Awards are open for entries. Celebrating excellence in the sector, the National Insurance Awards highlight the very best in general insurance provision and management in the UK. Judged by an independent panel of experts for exceptional performance, the awards provide an opportunity for organisations and individuals to showcase their strategies, software and successes from the past year.
Posted: 2023-08-14
Allianz Holdings reported a profit of £112.8m for H1 2023, down 5.5% on the £119.4m recorded in the same period last year. Gross written premium was up 7.1% at £2,095.6m. In personal lines, GWP was up 7.6% £1,032.1m while speciality lines GWP jumped 10.5% to £728.1m. Commercial lines GWP was up 4.8% at £728.1m.
Posted: 2023-08-11
In Q2 2023, the average price paid for private comprehensive motor insurance was £511, up 7% on the previous quarter. This is 21% higher than the same quarter the previous year and the highest since the Association of British Insurers started it Motor Insurance Premium Tracker in 2012.
Posted: 2023-08-11
Europcar Mobility Group UK is growing the size and range of its electric vehicle fleet to help it support the insurance industry with like-for-like replacement vehicles to electric motorists. The firm said it now had more than 160 charging points installed at rental locations across the UK.
Posted: 2023-08-11
Seventeen Group has acquired Mint Insurance Brokers Limited, a City of London broker controlling a gross written premium of £13m. It places retail and wholesale business in the London Market and has been an appointed representative of Seventeen Group’s broking subsidiary James Hallam since 2020.
Posted: 2023-08-10
Hiscox Ltd has reported that for the six months ended 30th June 2023, group net insurance contract written premiums increased by 11.4% in constant currency to approximately £1.5bn (H1 2022: $1.4bn). It said Hiscox UK ICWP grew by 4% on a constant currency basis. Hiscox London Market reported that net ICWP increased by 14.2% to £348.5m.
Posted: 2023-08-10
Peter Spires has decided to step down as general counsel at Lloyd’s and will be replaced on an interim basis by head of legal, Claire Schrader. Spires joined Lloyd’s in 1995 and became general counsel in 2016.
Posted: 2023-08-10
Aviva has expanded its underwriting appetite to include engineered timber in commercial developments following a successful pilot, which saw the insurer work with a number of developers on sustainable building projects.
Posted: 2023-08-09
In the past 12 months combined buildings and contents home insurance premiums rose by 26% according to pricing specialist Pearson Ham Group. The consultancy said the monthly increase for July of 4% signalled a likely slowing in the rate of increase for home insurance premiums going forward.
Posted: 2023-08-09
Specialty MGA Optio Group has appointed Mark Mugge as chief financial officer with immediate effect. He joins from Lucida Broking Holdings where he was group CFO and previously worked for Ardonagh in positions including group CFO and group COO.
Posted: 2023-08-09
Sensor-enabled parametric flood insurance provider FloodFlash has agreed a capacity deal with Hiscox. The deal will help UK-based FloodFlash expand its offering to the US market. Hiscox is already an active participant in the US flood insurance market.
Posted: 2023-08-08
The fine art, jewellers block and specie division at Lonmar Global Risks Limited has recruited a team of five specialists from Price Forbes. The move increases the size of Lonmar’s division by a third and underpins its intention to expand its capabilities and grow its market presence.
Posted: 2023-08-08
UK-based Risk Solved Ltd has appointed Chriss Allen (pictured) as head of sales with responsibility for supporting the execution of the business’ global growth strategy. He joins from Geospatial Insight Limited where he was responsible for leading the expansion into new markets.
Posted: 2023-08-08
Philip Smith, managing director of specialist motor insurance loss adjuster Claims Management and Adjusting Ltd has written to the National Crime Agency and requested evidence to support claims on keyless thefts. Smith said not enough focus was going into investigating claims properly and identifying those that were fraudulent.
Posted: 2023-08-07
The British Insurance Brokers’ Association has named The Clearway Group has an associated member. The company specialises in asset and commercial property security and protection. It will offer brokers access to its rapid response and property monitoring services.
Posted: 2023-08-07
Specialist re/insurance broker BMS Group has appointed Chris Brook as chief operating officer. He is expected to join the business in 2024 and will report directly to Nick Cook, CEO of BMS Group. He has previously served as COO of both Gallagher Re and Willis Re.
Posted: 2023-08-07
AA Insurance Services has gone live on CDL Strata as part of a move to migrate around two million car and home policies from its in-house legacy system to the cloud-based platform, which is hosted on Amazon Web Services.
Posted: 2023-08-04
Argenta Syndicate Management Limited, a subsidiary of Argenta Holdings Limited, has appointed Philip Hancock as head of engineering and construction. He will be based in London and be responsible for leading Argenta’s global engineering and construction business while overseeing its underwriting and business development.
Posted: 2023-08-04
Insurance software provider Acturis Group has acquired US-based Broker Buddha in a move that expands its international footprint to include the American market. It follows moves into the German, French and Canadian insurance markets.
Posted: 2023-08-04
Brown & Brown company Global Risk Partners Limited has acquired Petsmedicover Limited, trading as VetsMediCover. The pet insurance broker was established in 2016 and is based in Sutton Coldfield. It will become part of digital broker Insync Insurance, which GRP acquired in 2020.
Posted: 2023-08-03
Lloyd’s Insurance Company SA – Lloyd’s Europe – has closed its branches in Austria, Finland and Poland following the withdrawal of Freedom of Establishment authorisation in these countries.
Posted: 2023-08-03
Managing general agent XPT Specialty has expanded its offering to include personal lines. The firm said the move was designed to support small and medium sized retail brokers grow their personal lines portfolio.
Posted: 2023-08-03
Ikram Rafique has been sentenced to 24 months imprisonment, suspended for two years at Inner London Crown Court after he was found guilty of money laundering and acting as an unlicensed broker. He was also ordered to carry out 220 hours of unpaid work.
Posted: 2023-08-02
The credit hire and insurance sectors are looking to appoint an independent chair as part of ongoing negotiations to refresh the GTA, a set of industry-agreed principles, rules and guidelines that insurers and credit hire companies follow to manage replacement vehicle motor claims.
Posted: 2023-08-02
Endsleigh Insurance will extend its contents cover services to UK-based businesses to those that also have private halls of residence properties in the Republic of Ireland. This will give students in these private halls access to cover including protection of key valuables, tenants’ liability protection and major incident support.
Posted: 2023-08-02
Gauntlet Group, which is a network of local brokers, has established Gauntlet Brokerage Builder to support account executives to make the step up to starting their own business. It is a 22-month programme that offers support on developing the required business plan, client base and sales and marketing tactics.
Posted: 2023-08-01
Independent broker Lockton has appointed Shelley Wright as head of UK commercial wholesale. She will replace David Lee, who is retiring from the position after a 49-year career in the insurance industry. Wright joins from Swiss Re Corporate Solutions where she served as director of standard propositions EMEA and previously as head of UK regional business.
Posted: 2023-08-01
Fidelis MGU has committed to reaching net zero insurance-associated emissions by 2050 and is seeking to cut existing emissions by between 26% and 49% by 2030. In 2022, Fidelis MGU said its insurance-associated emissions totalled 1.2 million tonnes of CO2 equivalent for its in-scope portfolio – the portion covered by its 2030 target accounted for around 40% of this.
Posted: 2023-08-01
Pen Underwriting will separate out its international and financial lines division to create a standalone UK financial lines and specialist liability division that will be led by managing director, Richard Webb. Webb will also join the Pen Executive Committee. The changes will take effect from 1st August.
Posted: 2023-07-31
Cloud-based software provider Insurity has announced a new partnership with London-based AI insurtech Concirrus. The deal will combine Concirrus' big data and machine learning capabilities with Insurity's global marine cargo platform.
Posted: 2023-07-31
The British Insurance Brokers’ Association has named David Sparkes as regulation direction, a new main board position in the organisation. It has also made provision for other senior managers, including head of commercial, Nicola Maguire and head of insurance, Alastair Blundell, to attend certain main board meetings.
Posted: 2023-07-31
Rating agency AM Best has revised its outlook on Lloyd’s (UK) to positive from stable. It has also affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent).
Posted: 2023-07-28
Insurance data intelligence provider Percayso Inform has completed a £2.7m funding round, which was led by industry veteran Neil Utley and existing venture capital investor Praetura Ventures.
Posted: 2023-07-28
Insurer Beazley has reported gross written premiums of approximately £2,262.8m for the six months to 30 June 2023. This was up by 13% of the same period last year. It said premium rates on renewal business increased by 5%, building on the 18% rise recording in the same period last year.
Posted: 2023-07-28
Consumer watchdog Which? has completed research in the motor, home and travel markets that found insurers were failing, in many cases, to provide explanations on rejected, partially accepted or disputed claims. This is contrary to the requirements of the forthcoming Consumer Duty standards.
Posted: 2023-07-27
Allianz Commercial has named Mike Thomas (pictured) as director of distribution for digital and mid-market, and Andy Montgomery as head of broker distribution management. These are two newly created roles and follow the announcement in June that Nick Hobbs was to become chief distribution officer for Allianz Commercial in the UK. Both are internal promotions.
Posted: 2023-07-27
Reinsurance broker Augment Risk, which launched earlier this month and is backed by Altamont Capital Partners, has named Charlie Love as its chief financial officer and Henry Mikrut as head of rating agency advisory.
Posted: 2023-07-27
Seven partners have joined law firm DAC Beachcroft’s Claims Solutions Group from Plexus Law. Nicola Skeldon and Louise Shaw have joined DAC Beachcroft in Manchester, while fellow partners Anthony Baker, Gavin McClenaghan, Ciaran Garnett, Carl McGuire and Stephen Johnson are based in the firm's Leeds office.
Posted: 2023-07-26
WTW has announced that Lucy Clarke will join the business as president, risk and broking in the third quarter of this year. She will join from Marsh, where she is president of specialty and global placement. Prior to that, she was the chief executive officer of JLT Global Specialty.
Posted: 2023-07-26
Northern Irish broker AbbeyAutoline is celebrating is fiftieth anniversary by enhancing its high street presence and relocating its Portadown brand to a new city-centre location on Markey Street, where it will employ 9 full-time and 2 part-time staff.
Posted: 2023-07-26
Aviva has agreed to acquire Barclays UK’s home insurance portfolio, which comprises 350,000 customers. For the past 18 years, Aviva has administered, underwritten, and provided servicing and claims management for Barclays home insurance customers.
Posted: 2023-07-25
Insurance intermediary PIB Group reported revenue of £345m for the year ended 31 December 2022, up 49% on the £231m reported the previous year. It said its adjusted EBITDA rose by 36% to reach £91m. In 2022, it acquired 23 businesses across six countries, adding £77m in revenue.
Posted: 2023-07-25
Wellbeing and employee benefits provider Vivup has become an associate member of the British Insurance Brokers’ Association. It will offer members support with the solutions needed to support, retain and attract employees.
Posted: 2023-07-25
Allianz Trade has launched a standalone fraud insurance product to help UK businesses combat the post-pandemic rise in employee fraud and external scams.
Posted: 2023-07-24
Paymentshield has entered into a new partnership with specialist MGA, Integra. Paymentshield’s home insurance advisers will now be able to leverage Integra’s data-rich risk analysis, which can assess the likelihood of scenarios at street level. Integra has over 40 years' experience in home insurance, with a UK-based claims service, and 24/7 support for policyholders.
Posted: 2023-07-24
Tara Foley has been appointed as CEO of Axa UK & Ireland. She will officially take on her new role on 1 September after almost three years as CEO of Axa UK Retail Insurance.
Posted: 2023-07-21
Marshall E-Learning, part of the Ciphr Group, is launching 20 new employee training courses for FCA-regulated banks, insurers, and other financial services providers.
Posted: 2023-07-21
The Japanese business division of Tokio Marine HCC International has launched a new green upgrade endorsement that will be added as a standard endorsement, at no additional cost, to its combined commercial property policies from 1 August 2023 as they renew.
Posted: 2023-07-21
Comprehensive car insurance premiums have soared by a record 40% (£222) during the last 12 months, with UK motorists now paying £776 on average, according to the latest Confused.com car insurance price Index in association with WTW.
Posted: 2023-07-20
Insurtech MGA Loadsure has launched DanubeTM ocean cargo insurance and HuronTM, a digital ocean cargo and stock throughput insurance product.
Posted: 2023-07-20
Argenta has announced the appointment of Adam Cragg as group chief operating officer, subject to regulatory approvals. Based in London and reporting to Nick Moore, CEO of Argenta Holdings, Cragg will lead the firm’s operations, supporting the business’s development and leading the execution of its growth strategy.
Posted: 2023-07-20
Flood Re has announced that for the year to the end of March 2023, the number of policies ceded to the scheme increased by 3.6% to 265,826, with gross written premiums received rising to £52m (2022: £46m).
Posted: 2023-07-19
Cheadle-based specialist insurer Financial and Legal Insurance has agreed a partnership with Legal Protection Group to boost business in the private rental sector. Under the agreement, LPG will distribute legal expenses, rent guarantee and home emergency products manufactured by FLI and underwritten by FLI’s own insurance company.
Posted: 2023-07-19
Insurance services provider Thomas Miller has appointed Elliot Dunseath as its new group risk and compliance director with immediate effect. Previously, he was head of risk and compliance at Nexus Underwriting and Xenia Broking, both part of Kentro Capital Limited.
Posted: 2023-07-19
ARAG Group has agreed terms with ERGO Versicherung AG to buy its legal protection insurance business in the UK, DAS UK. The deal is subject to regulatory approval and is for an undisclosed amount.
Posted: 2023-07-18
Private equity firm Apiary Capital has completed an investment into Carbon Underwriting Limited. The specialist managing general agent said the investment would help it develop its underwriting platform and proprietary technology platform, Graphene, as well as its people.
Posted: 2023-07-18
Tokio Marine HCC International has appointed Sandy Mavrommati (pictured) as head of legal and compliance for its European operations, Tokio Marine Europe. She joins from Hiscox where she was previously head of compliance for Europe and will be responsible for growing TME’s compliance team.
Posted: 2023-07-18
Managing general agent NBS Underwriting has acquired underwriting agent and Lloyd’s coverholder Capital Markets Underwriting Limited as part of its stated aim to double in size over the next five years.
Posted: 2023-07-17
Managing general agent Strategic Underwriters International has completed a deal with technology provider Eurobase to use its Synergy2 solution, which will support its capacity provider processing model and provide improved data currency and risk modelling.
Posted: 2023-07-17
Allianz Holdings has secured gold status under the Armed Forces Covenant Employer Recognition Scheme. The scheme supports past and present service personnel and their families and helps employers provide opportunities for the defence community.
Posted: 2023-07-17
Zurich UK has announced plans to refocus its personal lines home and motor business to concentrate on high-net-worth through Zurich Private Clients, alongside its MGA and partnership channels. As a result, the insurer is proposing to withdraw from the regional broker and national (panel) broker channels.
Posted: 2023-07-14
The Clear Group has completed the acquisition of specialty MGA One Commercial Specialty. The latest deal represents the 42nd acquisition made by Clear since it was established in 2001. It also marks its second MGA deal and further advances the group’s aim of building its MGA capability.
Posted: 2023-07-14
Rebekah Clement has been appointed to the new role of corporate affairs director at Lloyd’s, heading up the newly established corporate affairs function.
Posted: 2023-07-14
Motor and home insurance prices have seen significant increases in the last quarter, according to the latest quarterly insurance price index (for Q2 2023) from Pearson Ham Group. The latest motor premium figures show the largest quarterly and yearly increases since the index began in its current format in 2019.
Posted: 2023-07-13
QuestGates has sought to strengthen its professional building services offering with the acquisition of Glasgow-based Ramsay McMichael Consulting.
Posted: 2023-07-13
Sharon Brown has been appointed chief commercial officer at GreenKite Associates having worked for the company as a board advisor since November 2022.
Posted: 2023-07-13
Telematics technology specialist Trakm8 has launched an enhanced automated returns solution designed to make it simpler for policyholders to send their telematics device back at the end of policies.
Posted: 2023-07-12
Legacy group Compre has announced the appointment of Daniel Fiehn as group chief operating officer. He brings more than 30 years of experience in operational, technology and leadership roles in global financial services.
Posted: 2023-07-12
Specialist insurer CFC has launched an innovation facility to develop and underwrite products under the Lloyd’s ICX innovation risk code.
Posted: 2023-07-12
Sabre Insurance has moved its pricing and direct insurance platforms to insurtech CDL following a formal tender process.
Posted: 2023-07-11
Ardonagh Advisory announced its third acquisition in a week with the addition of South West-based AMS Insurance Solutions.
Posted: 2023-07-11
Ardonagh Advisory has acquired Sentinel Insurance Solutions, a commercial broker specialising in self-drive hire insurance products. Sentinel will join Ethos Broking, where it will bring additional scope to its existing product offering, and work across the wider Ardonagh platform.
Posted: 2023-07-10
Specialty MGA Banyan Risk has appointed of Ben Munro to the newly-created role of chief underwriting officer. He has previously held senior underwriting roles at AIG, Chubb and Markel, and was CEO of software firm Briza.
Posted: 2023-07-10
Machine Learning Programs has launched MLP Score, an enrichment service which predicts the likelihood a driver is to make a claim on their motor insurance policy within the 12 month policy period.
Posted: 2023-07-10
Pen Underwriting has acquired specialist Norwegian MGA and Lloyd's coverholder Fender Marine to expand its marine specialism and establish its first on-the-ground international branch presence.
Posted: 2023-07-07
Global Risk Partners has completed the purchase of commercial broker SB2, the holding company for KPTI trading as IS Insurance Solutions.
Posted: 2023-07-07
As many as one in four young adults now say they would ‘likely’ consider an act of insurance fraud if they were struggling financially, according to a survey published by the Insurance Fraud Bureau.
Posted: 2023-07-07
Ardonagh Advisory has acquired PB Curran, an independent broker specialising in commercial, landlords, farming and private client insurance, and will add it to its Ethos Broking stable.
Posted: 2023-07-06
Independent broker Radius Insurance Solutions has launched onboard, a new offering for the fleet insurance market which it says can help customers to increase fleet safety by 30% and reduce insurance premiums by up to 15%.
Posted: 2023-07-06
Howden has acquired Media Insurance Brokers International, an independent UK and Irish film and television broker.
Posted: 2023-07-06
Tim Bailey, UK CEO at Zurich, is the new president of the ABI, while Clare Bousfield, chief executive, retail and savings at M&G, becomes the new deputy president. Both will take up the roles immediately.
Posted: 2023-07-05
The Clear Group has announced the acquisition of a 50% shareholding in Thomond Underwriting based in the Republic of Ireland and Northern Ireland. It is the group’s first MGA deal and part of a strategy to expand its international reach.
Posted: 2023-07-05
Travel insurance providers are the least trusted in general insurance, according to a poll of 10,000 consumers. The Fairer Finance Trust in Insurance Index, found that some of the smaller and specialist travel insurance brands such as insurefor.com, Leisure Guard, Puffin Insurance and Multitrip.com were ranked poorly by customers.
Posted: 2023-07-05
Pen Underwriting has continued investment in its new marine specialism with the appointment of Munro Anderson as head of operations at Vessel Protect, with effect from 1 July 2023. Anderson joins from real-time risk intelligence and maritime security solutions provider Dryad Global where he was a founding partner.
Posted: 2023-07-04
The run-up to the 1 July reinsurance renewals saw a continuation of the pricing and structural market dynamics that defined the January renewal period, with mid-year placements catching up and aligning with prevailing market undercurrents, according to a report from broker Gallagher Re.
Posted: 2023-07-04
Digital risk processing platform Cytora has teamed up with pricing decision intelligence specialist hyperexponential to provide commercial insurers with a new underwriting platform.
Posted: 2023-07-04
The British Insurance Brokers’ Association has today confirmed the appointment of Graeme Trudgill, its current executive director, as its next chief executive. Trudgill takes up the role with immediate effect, following a process conducted by an independent third party to consider external and internal candidates. Steve White announced his plans to retire at the BIBA Conference in Manchester in May.
Posted: 2023-07-04
CRIF Decisions Solutions, which specialises in profiling and digital propositions, has launched Pet Score. The pricing tool is aimed at helping insurers better understand the risk associated with pet policies based on post-code level geographical data.
Posted: 2023-07-03
Specialty insurance programme manager K2 Insurance Services LLC, has agreed a multi-year partnership with catastrophe risk modelling specialist Moody’s RMS. The deal covers three of K2’s managing general agents - K2 CAT, K2 Property D&F, and Vikco Insurance Services LLC.
Posted: 2023-07-03
Today sees the start of the two-week Futures Academy programme delivered by the London Market Group and aimed at more than 100 year 12 students. Almost 50 firms have agreed to host students during the fortnight and offer them an insight into a career in insurance.
Posted: 2023-07-03
The Financial Conduct Authority has welcomed new sustainability reporting standards from the International Sustainability Standards Board - the General Requirements for Disclosure of Sustainability-related financial information (IFRS S1), and the requirements for Climate-related Disclosures (IFRS S2).
Posted: 2023-06-30
JMG Group has completed its tenth deal of the year and acquired Cheshire-based broker Blackfriars Group. Blackfriars manages premiums of around £7m and has a team of 20 people across offices in Sandbach and Gibraltar. It specialises in liability and business insurance for small to medium-sized businesses across the UK.
Posted: 2023-06-29
Marsh has appointed Kelly Butler as UK cyber leader. She will take up the London-based role in October and report to Beth Thurston, CEO, UK financial and professional lines at Marsh. She will be responsible for the strategic development and delivery of Marsh UK cyber insurance and placement capabilities.
Posted: 2023-06-29
Howden-owned Aston Lark has expanded its regional network and opened an office in Reading to provide more in-person support to clients. The team of four will be led by Alistair Matthews and located in Winnersh Triangle.
Posted: 2023-06-28
Research from Premium Credit has highlighted that customers are spending more time shopping around for the best deal on their insurance. The Premium Credit Insurance Index found that 53% of customers said they were putting more effort into finding the best deal than previously – up from 43% last year.
Posted: 2023-06-28
Insurtech Send Technology Solutions Ltd has launched Smart Solutions, which automates the submission process with the help of AI to manage unstructured submission data received by insurers via email.
Posted: 2023-06-28
A new partnership between the Vulnerability Registration Service and data science firm Outra aims to make it easier for insurance companies to identity the UK’s 8.7 million vulnerable households, ahead of the Financial Conduct Authority’s Consumer Duty Regulations coming into force on 31st July.
Posted: 2023-06-27
Moody’s RMS has forecast a near-normal North Atlantic hurricane season for 2023 due to the competing and opposing influence of several key factors such as the El Niño-Southern Oscillation and above-average North Atlantic sea surface temperatures.
Posted: 2023-06-27
A report from the Federation of European Risk Management Associations and insurance industry partners promotes the potential for Europe to become a leader in developing risk solutions that the private insurance market cannot cover unilaterally.
Posted: 2023-06-27
The Bank of England has said claims inflation is an issue affecting every insurer and has written to the chief actuaries of general insurance firms and Lloyd’s managing agents regulated by the PRA.
Posted: 2023-06-26
Insurtech Lemonade has welcomed the Prudential Regulation Authority’s decision to grant it a licence to operate in the UK. The approval builds on its move to enter the UK market in partnership with Aviva last year.
Posted: 2023-06-26
Independent broker Lockton has appointed Mark Drummond-Brady as advisor to its senior international leadership team to support the firm’s continued growth plans. He previously worked as vice chairman at Marsh, following Marsh McLennan’s acquisition of JLT Group in 2019.
Posted: 2023-06-26
JMG Group has snapped up Southampton-based broker GR Marshall, which was set up in 1974 and focuses on the property, motor trade and personal insurance market. The broker and its five staff will continue to trade as GR Marshall following the deal.
Posted: 2023-06-23
Partners& has acquired Hart Insurance Brokers, which is based in Helensburgh and grows the firm’s presence in Scotland. Hart was established by Eddie Hart in 1965 and is now run by his son Alistair.
Posted: 2023-06-23
Allianz has appointed Nick Hobbs, subject to regulatory approval, as chief distribution officer for Allianz Commercial in the UK. He will be responsible for the recently announced integration of Allianz Global Corporate & Specialty UK and the commercial business of Allianz Holdings UK into a single entity.
Posted: 2023-06-23
Broker AbbeyAutoline has partnered with telematics technology provider Howden Driving Data to upgrade its ChilliDrive app. The app is aimed at younger drivers to help them become better and safer drivers and reduce their insurance premiums.
Posted: 2023-06-22
MGA Fusion Specialty has appointed Katherine Simmonds (pictured) to the role of CEO, Fusion Specialty International and named Michael Federer as CEO of Fusion Specialty North America. Both were internal promotions.
Posted: 2023-06-22
Big Ticket is a neutral digital data hub for the commercial insurance market and it launched this week at the annual AIRMIC conference. The hub allows users to maintain and share their exposure data with other stakeholders and aims to improve the customer experience and make the market more efficient.
Posted: 2023-06-21
Re/insurance broker Miller has reached an agreement with Whitespace to use its e-trading platform in its casualty team. Miller said the move would enhance its ability to create and capture placement data.
Posted: 2023-06-21
Insurtech Optalitix, which offers users access to pricing and risk information, has launched on Google Cloud Marketplace. Optalitix said the move would make it easier for users to scale-up their use of the software and make it more cost effective.
Posted: 2023-06-21
Paymentshield has launched a rolling subscription model for tenants to pay for contents cover on a monthly basis. The aim is to make it easier for tenants to match their period of insurance to their rental agreement and to offer a different option than annual policies.
Posted: 2023-06-20
The British Insurance Brokers’ Association has welcomed carbon accounting and net zero delivery firm Flotilla Group as an associate member to the trade body. Flotilla has also developed a package for members to assist them with their environmental strategies.
Posted: 2023-06-20
Insurtech Qover has teamed up with banking services provider Revolut to provide embedded insurance for its trip and event cancellation cover. The insurance will be available as part of the Revolut Ultra plan and will be underwritten by European insurer Wakam.
Posted: 2023-06-20
Chris Moat is to take over as chairman of Covéa from Thierry Francq on 1st July. In addition, Adrian Furness (pictured) has stepped down from CEO of Covéa UK and Georges de Macedo has been appointed to the position of CEO of Covéa Insurance with immediate effect.
Posted: 2023-06-19
The City of London Police’s Insurance Fraud Enforcement Department has found reported cases of opportunistic fraud between March 2022 and April 2023 jumped by 61% compared to the same period the previous year.
Posted: 2023-06-19
London-based Intangic MGA has launched its Intangic CyFi Dashboard, an early warning tool to provide companies with data-backed predictions for cyber breaches and to offer insurance. The tool helps companies calculate their breach and financial loss probability based on how well they block attacks relative to their peers.
Posted: 2023-06-19
Blink Parametric has partnered with Getcover.com, a trading name of Lloyd’s broker Newpoint Insurance Brokers Limited, to launch a suite of online travel insurance products. The products will include parametric cover for flight delay and will be underwritten by Financial and Legal Insurance Company Ltd.
Posted: 2023-06-16
Analysis from WTW has found that the adoption of technological innovation is delivering tangible results for underwriters and helping to position them for long-term profitable growth. WTW’s analysis covered 49 syndicates making up around 85% of the Lloyd’s market.
Posted: 2023-06-16
Avantia, the virtual insurer behind the Homeprotect brand generated a turnover of £31.4m in 2022, up 18% on the previous year. Its gross profit grew by 14% to £24.1m and EBITDA (pre non-recurring items) was up by 11.3%. The company increased customer numbers by 26%.
Posted: 2023-06-16
The Chartered Insurance Institute is recruiting for its flagship talent scheme, the New Generation Programme, and is looking to fill 40 places in its 2023/24 class with promising professionals from claims, underwriting, broking, and the London Market.
Posted: 2023-06-15
Data from comparison site Go.Compare shows that home insurance prices have risen by 17% since late 2021, when average buildings and contents insurance premiums were £138. It said the average was now £162.
Posted: 2023-06-15
Young brokers taking part in a series of workshops for LIIBA are overwhelmingly in favour of maintaining face-to-face trading with underwriters as their main means of interaction.
Posted: 2023-06-15
Italian insurance provider Wallife Group is preparing to offer its digital identity theft insurance product in the UK market. The product covers policyholders if their digital identities are compromised, for example their social media accounts or financial savings are accessed illegally.
Posted: 2023-06-14
Digital e-trading platform Whitespace has released version 2.12, its fifth major update in the past six months. The latest update introduces support for MRC v3 guidelines, ensuring compatibility with the contract headings in the MRC v3 document published in Lloyd’s Blueprint Two.
Posted: 2023-06-14
Lloyd’s has struck a deal with Dubai’s Department of Economy and Tourism to support growth opportunities for Dubai-based insurtech start-ups and entrepreneurs. The memorandum of understanding between the two parties encapsules their joint ambition to develop a Dubai insurtech enablement platform to help create tech-based insurance solutions and products.
Posted: 2023-06-14
Travel insurance specialist Tifgroup has launched a new travel insurance platform called albert & eddie. It offers customers insurance ranked by the specific details of their trip, rather than by price. It will initially offer cover from tifgroup brands including Holidaysafe, Insurancewith, Flexicover, Alpha, Get Going and Dogtag.
Posted: 2023-06-13
Insurtech Concirrus has added a privacy layer to its submissions offering that it believes enables providers to increase their submission handling productivity by 400%, without compromising customer privacy.
Posted: 2023-06-13
Legal adviser HF and Hastings Direct have secured a ruling at Newcastle County Court that shows claimant solicitors misled the court by inflating a claim worth no more than £10,000 to more than £25,000.
Posted: 2023-06-13
Acrisure has acquired Ten Insurance Services Ltd and will rebrand the appointed representative network as Eleven Network. The existing Ten management team, led by Dawn Derbyshire and Paul Sykes, will remain with the Eleven Network.
Posted: 2023-06-12
Global Risk Partners, a Brown & Brown company, has acquired Surrey-based commercial broker Amicus Solutions Holdings Ltd. Amicus was established in 2010 and has a focus on construction, manufacturing, waste and recycling, and haulage. Amicus will become part of GRP’s Retail Division.
Posted: 2023-06-12
Allianz Holdings has appointed Serge Raffard (pictured) as its managing director for personal lines. He will take up the post at the start of July and report to Colm Holmes, chief executive of Allianz Holdings.
Posted: 2023-06-12
VIPR Solutions has won a contract with Hampden Risk Partners to manage risk data from approximately 2,000 bordereaux received from up to 50 different delegated underwriting entities.
Posted: 2023-06-09
Kingfisher Insurance has snapped up REIS Motorsport Insurance, which provides specialist cover for motorsport competitors, teams and enthusiasts. Kingfisher said the acquisition would strengthen its own motorsport proposition.
Posted: 2023-06-08
Jensten Underwriting has worked with insurer Hiscox to create a new offering for businesses in the technology sector. The proposition includes cover for professional indemnity incorporating breach of contract, wide intellectual property infringement, cyber and extensions for legal defence, sub-contractors and negligence.
Posted: 2023-06-08
Legal expenses insurance provider Arc Legal Group, which is part of AmTrust Financial Group, recorded a 10% increase in calls to its legal assistance helpline between February and April, compared to the same period last year. The provider said the increase reflected the growing pressure people are under to meet their financial obligations.
Posted: 2023-06-07
Specialist MGA Bspoke Commercial Ltd has named Nick Grazier as managing director. He will lead the Bspoke Commercial, Bspoke Private Clients and Bspoke Sports and Leisure businesses and report to group CEO, Tim Smyth.
Posted: 2023-06-07
Howden company Aston Lark has recruited George Seatter as a client director within its private client division. He brings with him the client base he has built up over the past six years whilst a partner at Vizion. Laura Coles also joins Aston Lark as account executive to work alongside Seatter.
Posted: 2023-06-06
Agricultural specialist insurance provider iFarm, which is part of speciality MGA Rokstone, has recruited four new underwriters to its team and named Lee Ellis has head of iFarm underwriting. Ellis joined Rokstone in 2022 from Geo Underwriting.
Posted: 2023-06-06
Momentum Broker Solutions has launched a training initiative called Pathway Programme following a number of successful pilot sessions. The programme offers support in sales and general business skills and the curriculum has been developed with insurer partners including Aviva, Axa and Allianz.
Posted: 2023-06-06
The Jensten Group has acquired Coversure Poole Group. John Palmer founded the business seven years ago and it is a member of Jensten’s franchise network Coversure. It has offices in Poole, Weymouth and Croydon.
Posted: 2023-06-05
Speciality re/insurer Canopius Group has appointed Ashley Moulton as healthcare underwriter to build a medical malpractice book of business. Moulton joins from Coverys Syndicate 1975 where she was responsible for growing its life sciences binder book and its US medical malpractice portfolio. Prior to this, she served as an underwriter in CFC Underwriting’s life sciences division.
Posted: 2023-06-05
A-One Insurance Group has become a member of independent broker network, Brokerbility. A-One was founded in 1993 and the majority of its clients are based in the South of England.
Posted: 2023-06-05
Insurer ERS has teamed up with software house Acturis Group to launch an API-based motor insurance product for brokers. It will be available on the Acturis platform. The collaboration enables ERS and Acturis to interact directly, without using third-party EDI networks to transmit policy data.
Posted: 2023-06-02
Allianz Holdings has said Simon McGinn, CEO of Allianz Commercial, will leave the business on 1st July. He has been with Allianz since 2004 and took up his current role in 2021. In March, Allianz said it was combining Allianz Global Corporate & Specialty UK and Allianz Holding’s UK commercial business under a single strategy. The insurer appointed Nadia Côté (pictured) as commercial managing director UK.
Posted: 2023-06-02
Only half (51%) of private tenants have contents insurance, according to a YouGov survey commissioned by Paymentshield. It found a higher percentage (53%) had a subscription to Netflix. Of those with insurance, only 20% had a policy actually designed for tenants.
Posted: 2023-06-01
Howden has launched its telematics and data service to the UK market. Howden Drive gives brokers and insurers access to a database of driving and claims data as well as offering motorists evolving scores on their driving.
Posted: 2023-06-01
Forecaster Tropical Storm Risk says it anticipates North Atlantic hurricane activity to be around 25% lower than the 1991-2020 30-year norm. Its forecast says there will be 13 named storms, 6 hurricanes of which 2 are expected to be Category 3 or above.
Posted: 2023-06-01
Figures from Consumer Intelligence’s latest motor insurance price index show that premiums have risen by 21.1% in the past year, the biggest annual rise in prices since the index started tracking quoted premiums almost 10 years ago.
Posted: 2023-05-31
Hiscox Ltd has appointed Jonathan Bloomer as chair designate, subject to regulatory approval. He will take up his post on 1st June and succeeds Robert Childs who will retire a month later. Bloomer is a previous CFO and CEO of Prudential plc and is currently chair of Morgan Stanley International, DWF Group plc and SDL Group Holdings Limited.
Posted: 2023-05-31
Data analytics and technology provider Verisk has acquired broker and MGA software specialist Morning Data. Verisk said the deal would help it enhance its processing and distribution proposition for SME brokers, coverholders, MGAs, captives and re/insurers.
Posted: 2023-05-31
Sabre Insurance Group plc has published a trading update for the four months to 30th April 2023. It said gross written premiums during the four months were £58.9m, down slightly on the £59.8m posted in the same period last year.
Posted: 2023-05-30
Lloyd’s has announced that it has withdrawn from the Net Zero Insurance Allianz, following a raft of other members that have left recently. High profile names that have left the alliance include: Axa, Scor, Allianz, Sompo, Zurich, Swiss Re, Hannover Re, and Munich Re.
Posted: 2023-05-30
Insurance market practitioners have teamed up with The Sustainable Markets Initiative and Resilient Cities Network to create a secondment programme that will see insurance professionals working with city leadership teams. The Global Risk and Resilience Fellowship Programme will place professionals with individual cities for between three and six months.
Posted: 2023-05-30
Lloyd’s has appointed Rachel Turk (pictured) as chief underwriting officer. She will be responsible for managing the performance of the Lloyd’s market and for leading the underwriting function to support the corporation’s strategic goals. She will report to Patrick Tiernan, chief of markets at Lloyd’s.
Posted: 2023-05-26
MGA Qlaims Limited, which provides cover for clients who experience a loss to pay for their own claims adjuster, has partnered Prestige Underwriting Services, which will now include Qlaims’ cover in its coverall household policy.
Posted: 2023-05-26
Argenta Syndicate Management Limited has appointed Hannah Wyatt as direct and facultative underwriter, US and international, with the specific aim of growing Argenta’s direct and facultative open-market property business. She will be based in London.
Posted: 2023-05-26
Aviva plc has reported gross written premium of £2.4bn in its general insurance business for Q1 2023, this was up by 11% on the same period last year. The figures, published in a trading update, showed that UK and Ireland gross written premium was up 13% to £1.5bn.
Posted: 2023-05-25
Steve Treloar (pictured), CEO of Allianz Personal and Fernley Dyson, chief financial officer of Allianz UK are to step down from their respective positions. Ulf Lange, currently head of business division for Global Lines and Anglo Markets at Allianz SE will succeed Dyson, subject to regulatory approval. The search for Treloar’s successor is underway.
Posted: 2023-05-25
Home insurance provider Integra Insurance Solutions has agreed a multi-year deal with geocoding specialist Addresscloud that will provide address-level risk assessment and exposure management services.
Posted: 2023-05-25
NFU Mutual has collaborated with parametric specialist Skyline Partners, insurer Markel and broker Gallagher to create a parametric heat-stress cover for dairy farmers. If temperatures exceed pre-set limits, policyholders receive predetermined payments.
Posted: 2023-05-24
The Association of Average Adjusters has named Burkhard Fischer (pictured right) as its elected chair for 2023/24. He succeeds Sir Nigel Teare (pictured left). The association promotes professional principles in the adjustment of marine claims.
Posted: 2023-05-24
Commercial re/insurance software provider AdvantageGo has entered into a strategic alliance with Tremor, an online reinsurance pricing and placing platform, which seeks to provide a new and more automated approach to find the best market rates for reinsurance.
Posted: 2023-05-24
Flood Re and the Environment Agency have launched a campaign to raise awareness around the likelihood of homeowners in England suffering a flood and the associated cost and impact. The ‘Be Flood Smart’ campaign seeks to encourage more homeowners to implement flood resilience measures to their properties.
Posted: 2023-05-23
Third-party Lloyd’s managing agency Asta has named Seema Bradbury as chief risk officer and Liz Catchpole as an independent non-executive director and chair of its audit committee. Bradbury joins from Axis, where she was group risk director and chief risk officer of the managing agency.
Posted: 2023-05-23
Broker Bishopsgate, which is part of Ardonagh Speciality, has announced it will use CyberCube’s Broking Manager software, which analyses potential financial exposures arising from cyber events to help clients make decisions on insurance coverage and limits.
Posted: 2023-05-23
Speciality re/insurance broker Consilium has launched a new cyber, tech and fintech division. Tom Abbotts will lead the division. He joins from Elmore Insurance Brokers and was one of the founding members of its cyber, tech and fintech team. The new division will work closely with Consilium’s Financial Lines broking team, ProEx.
Posted: 2023-05-23
MGA Nirvana, which focuses on media, technology and cyber risks, has selected insurance software provider Insureflow to improve efficiency and underpin growth. Nirvana was founded on March by Rob Jones and Kabir Chanrai (pictured) who acquired Nirvana Risk Partners from MGA formation platform Castel Underwriting Agencies.
Posted: 2023-05-22
Specialist insurer CFC has announced that its trading platform Connect now supports multiple commercial specialty lines. The insurer said brokers can now auto-rate and bind admitted professional liability and technology E&O policies for more than 500 professions, in addition to cyber cover.
Posted: 2023-05-22
Everest Re Group Ltd has secured shareholder approval to change its name to Everest Group Ltd. The group includes Everest Syndicate 2786, which was established in 2015 and writes business in the following lines: property, energy, casualty, financial institutions, financial lines, commercial executive risks, professional liability, contingency; and accident and health.
Posted: 2023-05-22
The Association of British Insurers has found that combined home buildings and contents premiums averaged £315 in Q1 2023. This was up by 3% on the previous quarter and by 6% over the year. The ABI said home insurers paid out £2.5bn in 2022.
Posted: 2023-05-19
Leeds-based Bspoke Insurance Group Ltd has announced it is to acquire London-based Miramar Underwriting Ltd, subject to regulatory approval. Miramar is a managing general underwriting and focuses on property owners’, non-standard residential, unoccupied property, and other commercial and residential property classes. It was founded by Jeff Turner and Tim Simpson in 2009.
Posted: 2023-05-19
BGL Insurance has added MGA Prestige Underwriting to its own-brand motor panel. Prestige’s non-standard motor product will offer insurance to customers with modified and high-performance vehicles, imported vehicles and provide cover options for those with a poor driving history and motoring or criminal convictions.
Posted: 2023-05-19
Allianz Commercial has recruited personnel and restructured existing operations to create a new financial lines team, focusing on D&O and professional indemnity, that that will operate across the individual offices in each of three regional hubs - North, Midlands and South West, and South East.
Posted: 2023-05-18
Insurance group Howden is to create a single global executive structure. It will be in place by October this year with insurance broking, reinsurance broking and underwriting leaders reporting directly to group CEO David Howden (pictured). The move sees all broking operations rebrand under the Howden name.
Posted: 2023-05-18
Artura Consultancy, which works with the insurance market to develop better vehicle repair claims journeys, has signed a deal to use the claims app created by Agile Developments Group. The app will help customers provide first notification of loss information more quickly and easily.
Posted: 2023-05-18
Insurtech Pikl is to provide a white label comparison service to Confused.com for home, holiday home and landlord insurance that incorporates its host insurance, which is designed for clients offering short-term rentals.
Posted: 2023-05-17
Professional services and technology business Davies has appointed Jen Morrissey (pictured) as group chief operations officer. She will lead Davies’ global technology, transformation, M&A integration, procurement, and real estate functions. Morrissey will also join Davies’ group executive committee.
Posted: 2023-05-17
Insurance intelligence provider Percayso Inform has announced a new integration with IS2, a digital trading and distribution platform for the schemes market. The partnership will give IS2’s users access to Percayso Inform’s data and intelligence hub.
Posted: 2023-05-17
Direct Line Group is moving to a new head office at Riverbank House in the City of London, after 35 years in Bromley. The move will take place in the summer and the firm will retain a smaller office in Bromley. The move follows a change to hybrid working.
Posted: 2023-05-16
Gallagher Re has named Ian Kerton (pictured) as CEO of the reinsurance broker’s UK operations, subject to regulatory approval. He replaces Tom Wakefield who is stepping up to replace James Kent as global CEO of Gallagher Re.
Posted: 2023-05-16
Chubb Climate+ has created a packaged insurance solution aimed at supporting the expansion of alternative and renewable energy projects, principally onshore wind and ground-mounted photovoltaic solar. The product – Climate+ Renewables – is aimed at small to medium renewables projects, up to £50m in contract value.
Posted: 2023-05-15
Mosaic Insurance, which runs wholly owned Lloyd’s Syndicate 1609, has teamed up with technology specialist Safe Security to embed real-time cyber-risk data into its underwriting process and will now offer primary cyber insurance globally.
Posted: 2023-05-15
Allianz has reported total business volumes of approximately £40.1bn for Q1 2023, up 3.9% on the same period last year. It said operating profit was up by 24.2% to £3.2bn and noted strong performances in both its property and casualty, and life and health divisions.
Posted: 2023-05-15
Pen Underwriting has announced that Catriona Thomson (pictured) will become chief financial officer and join the MGA’s executive team from 1st July. On this date, current CFO Sarah Breslin will become managing director of Pen’s speciality division.
Posted: 2023-05-12
The British Insurance Brokers’ Association has confirmed that its annual conference will return to Manchester Central next year on the 15th and 16th of May. Huw Edwards, broadcaster and this year’s BIBA host, announced the plans while wrapping up this year’s event.
Posted: 2023-05-12
Veterinary practice finance officer Helen Pearse has been sentenced to 20 months imprisonment, suspended for 18 months, by Newcastle Crown Court. She had been convicted of making fraudulent pet insurance claims totalling more than £37,000.
Posted: 2023-05-12
The British Insurance Brokers’ Association has issued new member publications on environmental, social and governance issues. The online guide, created in partnership with law firm Weightmans, provides details on how firms can implement and evolve an ESG policy.
Posted: 2023-05-11
Insurance law firm Browne Jacobson has struck a three-year deal with social purpose organisation Plain Numbers to assist the insurance market in making its products easier for customers to understand.
Posted: 2023-05-11
Specialist re/insurer Apollo has appointed Angus Winther (pictured) as chair of board for Apollo Syndicate Management Limited. He is currently a non-executive director of Ecclesiastical Insurance Office plc and its parent Benefact Group plc, and was previously a non-executive director of Hiscox Syndicates Limited.
Posted: 2023-05-11
Allianz Partners UK, which specialises in B2B2C insurance and assistance, has teamed up with Avid Insurance and will now provide capacity and underwrite travel insurance policies sold by the MGA and its partners.
Posted: 2023-05-10
LV= General Insurance referrals of ghost brokers into the Insurance Fraud Enforcement Department at the City of London Police has increased by 143% year-on-year between 2021 and 2022. The findings came as the insurer noted a 31% increase in motor policy fraud.
Posted: 2023-05-10
Direct Line Group has said its earnings outlook continues to remain challenging as it issued a trading update for Q1. It said total group adjusted gross written premiums for Q1 2023 were £805.7m, up 9.7% on the same period the previous year.
Posted: 2023-05-10
Comparison site GoCompare has selected specialist ancillary insurer Coplus to support its £250 free excess offer to motor insurance customers. Coplus also provides GoCompare’s free excess offer to home insurance customers.
Posted: 2023-05-09
MGA Qlaims has become a panel partner for PIB-owned Cobra Network. Qlaims provides insurance to businesses and consumers to cover the cost of appointing their own accredited claims expert to manage damage claims and negotiate associated business interruption losses.
Posted: 2023-05-09
Applied Systems Europe has added Arch Insurance, Ark Insurance and iprism Underwriting to its commercial lines insurance panel. Later this year, UK brokers using Applied’s Epic broker management system will be able to quote and bind directly with these three new providers. They join existing panel carriers Allianz, Axa, NIG, QBE and RSA.
Posted: 2023-05-09
WTW has established a data science consultancy unit within its Insurance Consulting and Technology business to help insurers extract greater value from data science and machine learning. The creation of the unit formalises WTW’s capabilities in this area.
Posted: 2023-05-05
Tokio Marine HCC International is to restructure its London Market marine, energy and renewables businesses to support growth and drive efficiencies. These lines of business will be brought under one operating structure which will be headed up by Ben Kinder, who recently joined from Zurich.
Posted: 2023-05-05
Specialty re/insurer IQUW has teamed up with insurtech Zywave to use the technology provider’s loss data product to support its new pricing model in its cyber and D&O lines of business. IQUW hopes the collaboration will enable it to make faster and more accurate underwriting decisions.
Posted: 2023-05-05
Close Brothers Premium Finance has teamed up with insurance intelligence provider Percayso Inform to make it easier for personal lines brokers to access CBPF’s data insight tool, Foresight. Foresight scores car and van customers at the point of quote on their likelihood to cancel mid-term.
Posted: 2023-05-04
Specialist MGA Prestige Underwriting has partnered with Pikl, which focuses on providing insurance for clients who participate in the short-term rental of rooms, whole properties or parking spaces. Prestige’s broker partners can now access Pikl’s products via its Covernet portal.
Posted: 2023-05-04
Lawshield UK, part of The Connexus Group, has selected Allianz Legal Protection to underwrite legal expenses insurance for a range of personal lines and motor fleet products.
Posted: 2023-05-04
Credit scoring and digital transformation specialist CRIF has launched a new suite solutions, powered by open banking, for the insurance sector. The products assess customer creditworthiness and their ability to pay monthly premiums.
Posted: 2023-05-03
Sky has teamed up with Arc Legal Group, who will provide legal expenses insurance and cyber assistance as part of multi-year deal for the newly launched Sky Protect Smart Home Insurance product. Arc Legal is part of AmTrust Financial Group.
Posted: 2023-05-03
Provenance Insurance Brokers has signed a deal with prestige and performance car dealer, Redline Specialist Cars. The arrangement enables Redline clients to secure private client motor insurance and associated insurance services through the Redline Specialist Insurance brand.
Posted: 2023-05-03
Verve Risk Partners, a division of Castel Underwriting Agencies Limited, has announced a management buyout from the MGA formation platform. The underwriting cell is led by Scott Simmons and Alan Lambert and has traded under the Castel platform since its formation in 2016.
Posted: 2023-05-02
Charity and not-for-profit insurer Ansvar, has announced a five-year strategic partnership with ACEVO – the Association of Chief Executives of Voluntary Organisations. As part of the deal, Ansvar will support ACEVO’s national conference, which brings together over 300 CEOs from local and national charities.
Posted: 2023-05-02
Research from consumer insights platform QuMind has found that 78% of millennial dog owners have pet insurance, compared to 57% of those in the 55+ age group. It also found that millennials spent more on looking after their dogs, averaging £40 a month, compared to the £17 spent by the older age group.
Posted: 2023-05-02
Analytics and technology specialist LexisNexis Risk Solutions has become an associate of the British Insurance Brokers’ Association. LexisNexis Risk Solutions serves data into around 220 million insurance quotes a day, across motor, home and commercial lines.
Posted: 2023-04-28
Increasing demand for risk management support has prompted global broking business Brokerslinik to establish a dedicated risk management practice to provide partners with access to a specialist consultancy service. The practice will provide risk inspection, enterprise risk management, risk analysis, loss control, captive management and business continuity services.
Posted: 2023-04-28
Howden Group Holdings has appointed Peter Blanc (pictured), who is currently executive chairman of Howden UK&I, to the newly created role of head of M&A. He will oversee a war chest of more than £1bn after Howden recently raised more than £875m through debt and equity and increased its existing credit facilities.
Posted: 2023-04-28
UK General and PPL have rebranded to Bspoke Group. The groups comprises Bspoke Underwriting (formerly UK General Insurance), Bspoke Lifestyle (formerly Binnacle Insurance Services), Bspoke Commercial (formerly One Commercial), Provego, and One Commercial Specialty.
Posted: 2023-04-27
Lloyd’s coverholder Lions Gate Underwriting has named Robbin Botnick (pictured) as managing director and head of corporate development. She will have responsibility for growing LGU’s footprint across Canada. She joins from Excess Underwriting where she was chief operating officer.
Posted: 2023-04-27
Insurance market practitioners need to get their data in order if they want to ensure compliance, according to data and analytics advisory company DataTick. The firm said this was a pressing concern ahead of the forthcoming implementation of the Financial Services and Markets Bill.
Posted: 2023-04-27
Motor claims specialist Inspire Claims has rebranded as Cogent Claims and is seeking to expand following investment from BHL (UK) Holdings Limited, whose portfolio includes comparison site Compare The Market, motor legal services firm Minster Law, LEI provider Coral Insurance and telematics business ThingCo.
Posted: 2023-04-26
Telematics app DriveScore has integrated with technology provider CDL’s administration platform Strata to enable insurers using the technology to access prospective policyholders’ DriveScore telematics data for underwriting.
Posted: 2023-04-26
Direct Line Group has acquired managing general agent By Miles. The real-time, pay-by-miles motor insurance provider has around 50,000 customers and generates gross written premium of £26m. Direct Line already underwrites By Miles’ new business.
Posted: 2023-04-25
The Movo Partnership has teamed up with Quote Portal, which is an independent general insurance quote hub with an integrated underwriting platform. It seeks to match brokers with insurers and MGAs to facilitate efficient trading.
Posted: 2023-04-25
The Chartered Insurance Institute’s Education and Training Trust charity has pledged more than £150,000 in scholarships and associated funding for students at the University of Nottingham. The CII Future Insurer Scholarship will offer financial support to eight undergraduates studying for their first degrees and aiming to work in the insurance industry after graduation.
Posted: 2023-04-24
Castel Underwriting Agencies Ltd (Castel), including Castel Underwriting Europe BV has received an affirmed Performance Assessment of PA-2 (Excellent) with a stable outlook from AM Best. The rating agency announced its intention to evaluate delegated authority providers in 2021, due to their increasing prominence in the market.
Posted: 2023-04-24
PIB Group Ltd has acquired independent broker St Giles Holdings (Number 2) Limited and St Luke Underwriting Limited – together St Giles. St Giles has a focus on residential property. It was founded in 1972 and has offices in London, Liverpool and Ringwood.
Posted: 2023-04-24
UK drivers are paying an average of £657 for comprehensive insurance, up by 20% over the past year, according to the latest Confused.com Car Insurance Price Index in association with WTW. Thais is the most expensive average premium price since 2011.
Posted: 2023-04-21
Specialist re/insurance broker BMS has appointed Morna Leather as chief financial officer of UK and international. She will be based in London and take up her role in the summer. She joins from Ardonagh Global Partners where she was chief financial officer.
Posted: 2023-04-21
Pricing insurtech Quantee has partnered with insurance technology provider Socotra and will now be available via the Socotra App MarketPlace. The move brings the pricing technology to a wider market and speeds up the pace of adoption for potential users.
Posted: 2023-04-21
Axa Commercial has opened a new branch in Southampton which will have a dedicated underwriting team focused on both new and existing business across Axa Commercial product lines. The insurer said the move was to strengthen engagement with regional brokers.
Posted: 2023-04-20
Tokio Marine HCC has opened a broker lounge on the 7th floor of the Walkie Talkie building. The announcement comes after the insurer consolidated its London Market operations within the building at 20 Fenchurch Street in recent months.
Posted: 2023-04-20
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