News

Jensten Group is to invest up to £1m this year to help 15 individuals to start their own independent brokerages. Aimed at brokers with around 10-years’ experience the initiative will be run through Coversure, the group’s network for independent brokers. The start-up funding is not a loan and the AR will be expected to be self-funding after the initial six months.
Posted: 2024-04-17
Paratus Holdings Limited has today announced the launch of its insurance brokerage division, Paratus and Partners. Led by Duncan Ross, the new division will focus on energy price risk insurance products in the maritime, freight, aviation and renewable power sectors.
Posted: 2024-04-17
Property insurers paid out £4.86bn to personal and commercial policyholders in 2023, according to the Association of British Insurers. It said £2.55bn was for home insurance claims, representing an increase of almost 10% on 2022 (£2.33bn), which was largely driven by weather-related damage. Across personal and commercial policies, weather-related damage totally £573m – the highest on record.
Posted: 2024-04-16
Partners& has created three new leadership roles ahead of planned future growth. It has named Ewan MacDonald (pictured) as CEO – north, Lee Davey as CEO – south and Ramzan Ghafoor as COO, client service. All three are internal promotions.
Posted: 2024-04-16
Industrial insurer HDI Global has established a dedicated underwriting and claims proposition for liability and property lines of business in the mid-market. The carrier has expanded its services to target clients with turnovers ranging from around £17m to £425m.
Posted: 2024-04-16
Seventeen Group has acquired Watford-based Jannard Quadrant Insurance Brokers Limited in its third deal of the year. Owners Stephen Sweden and Geoff Callaway will remain with the business following the deal. Jannard Quadrant has an ongoing relationships with Seventeen Group’s MGA subsidiary, Touchstone Underwriting.
Posted: 2024-04-15
Balgrove Underwriting Agency has announced that is been able to resume selling motor fleet policies after it renewed its underwriting facility with Accredited Insurance (Europe) Ltd. In March, Balgrove had said it was in negotiations with another insurer.
Posted: 2024-04-15
The Financial Conduct Authority has written motor finance firms to remind them they must maintain adequate financial resources at all times. The warning comes in the midst of the regulator’s review into the historical use of motor finance discretionary commission arrangements.
Posted: 2024-04-15
Direct Line Group has announced that Jane Poole will become group chief financial officer, subject to regulatory approval, and will join the board in October 2024. She joins from Aviva where she was CFO of the carrier’s UK and Ireland general insurance business.
Posted: 2024-04-12
The British Insurance Brokers’ Association has welcomed the positive findings from the Financial Conduct Authority’s review of signposting in the travel insurance market. Signposting requirements were introduced in April 2021 to help consumers with serious pre-existing medical conditions better navigate the travel insurance market.
Posted: 2024-04-12
PIB Group Limited has formed a partnership with Romanian intermediary Stein Bestasig Insurance Broker, which will see the local broker co-ordinate additional merger and acquisition activity within the market. PIB said it was looking to attract another 20 Romanian brokers to its stable.
Posted: 2024-04-12
On 9th April, Sheffield Crown Court sentenced Patricia Rogers to 12 months imprisonment, suspended for 18 months, and ordered her to pay £500 in compensation. She had previously pleaded guilty to fraud by false representation after her personal injury and damages claim for almost £500,000, made to NFU Mutual, was referred to the City of London Police’s Insurance Fraud Enforcement Department.
Posted: 2024-04-11
The Insurance Development Forum has published a blueprint to support insurance sector investment in infrastructure that will enhance the resilience of vulnerable communities in emerging and developing communities from risks associated to climate change and natural disasters.
Posted: 2024-04-11
Following its acquisition of QCH Legal last year, QuestGates has rebranded the law firm to QGLaw and appointed Jason Spencer as managing director. The firm will initially focus on work in the motor, casualty and property markets.
Posted: 2024-04-11
Acies MGU has established a construction-focused managing general agent named Phoenix Specialty, which will be led by managing director Tim James (pictured), subject to regulatory approval. Backed by capacity from Axa UK, Phoenix will initially offer contractors all risk and contractors plant and equipment products.
Posted: 2024-04-10
NBS Underwriting has launched a commercial combined product aimed at risks with fewer than 10 UK-based locations and premiums ranging from £2,500 to £25,000. The new product follows the acquisition of Capital Markets Underwriting and is available on the NBS quotation system.
Posted: 2024-04-10
Ardonagh Advisory has bolstered its presence in the northwest of England with the acquisition of Southport Insurance Brokers Limited, which was founded in 1965 and has a focus on the industrial, care and agricultural sectors.
Posted: 2024-04-10
Pet insurance prices fell 2.5% in March, according to data from Pearson Ham. The drop follows a prolonged period of rises – in February, prices were 21% higher than the same month last year. It also coincides with the Competition and Market Authority announcement that it will investigate the vet market.
Posted: 2024-04-09
Jensten has completed on its acquisition of Scrutton Bland Insurance Brokers after receiving final regulatory approval. The deal adds 50 staff, two additional offices and gross written premium of £22m to Jensten.
Posted: 2024-04-09
Digital risk processing platform Cytora and global trade data business TradeAtlas have signed a collaboration deal. TradeAtlas collects and analyses data from 30 million importers and 27 million suppliers, which will be integrated into Cytroa’s risk processing platform.
Posted: 2024-04-09
Motor insurers paid out £9.9bn according to the latest data from the Association of British Insurers’ Motor Insurance Claims Tracker. The trade body said the total was the highest annual figure since it started collecting data in 2013 and equates to an average of £1.13m an hour.
Posted: 2024-04-08
Kingfisher Insurance has acquired classic vehicle insurance specialist Lynbrook Insurance Services, which will now operate alongside Kingfisher’s classic vehicle brand Peter James Insurance. Lynbrook has been trading for more than 50 years.
Posted: 2024-04-08
The Clear Group has named Mandy Hunt as managing director, MGA. She chairs the Chartered Insurance Institute’s Underwriting Community Board and previously served as chief underwriting officer – commercial lines at RSA.
Posted: 2024-04-08
Broker software specialist Open GI has acquired Hug Hub’s Digital Platform. Open GI said it would initially integrate the Digital Platform technology with its own Mobius platform before making it available across its other platforms - Core and V.
Posted: 2024-04-05
The British Insurance Brokers’ Association has teamed up with insurer CFC to design and deliver a cyber hub for this year’s annual BIBA conference, which will be held in Manchester on the 15th and 16th of May.
Posted: 2024-04-05
AssuredPartners has announced its acquisition of LT Insurance Services, which was founded in 2009 and serves a range of commercial SME and personal lines clients. LT Insurance Services is based in South Wales and will become part of PSP Insurance Brokers, which is also owned by AssuredPartners.
Posted: 2024-04-05
Insurance intermediary group Howden has promoted Paul Hasib to the newly created role of chief placement officer within Howden UK & Ireland’s corporate and commercial division. Responsible for all placement activities, Paul and his team will seek to resolve placement issues and improve efficiency in this area of the business.
Posted: 2024-04-04
QBE has named Aiden Quinn (pictured) as head of commercial underwriting, trade credit for its European operations. He joins from the insurer’s Australian division where he was head of commercial underwriting. He has responsibility for servicing, renewing and growing the existing portfolio.
Posted: 2024-04-04
Insurance data specialist Percayso Inform has signed a deal with e2e Total Loss Vehicle Management, an outsourced, third-party administrator in the total loss claims supply chain. Under the arrangement, e2e will use Percayso’s Companion claims tool to value vehicles.
Posted: 2024-04-04
London-headquartered managing general agent Devonshire Underwriting, which comprises Devonshire UW Limited, and its affiliate Devonshire UW Europe GmbH, has launched. The firm will specialise in underwriting transactional risk and will be led by its four founding partners - Natasha Attray, James Dodd, James Fletcher and Charles Turnham.
Posted: 2024-04-03
Pearson Ham’s Q1 Insurance Price Index has found that combined buildings and contents home insurance premiums were up 10% on the previous quarter and by 41% over the year. It said the average premium was now £400. In contrast, it said the motor market had begun to soften, albeit in an irregular fashion.
Posted: 2024-04-03
Davies Broking Europe SRL has received approval from the Financial Services and Markets Authority and is also expecting to be accredited as an authorised Lloyd’s broker. Based in Brussels, the firm said its European operation would support brokers in the European Economic Area. Its UK branch will be able to support UK brokers expand into Europe via a warehousing solution.
Posted: 2024-04-03
The Broker Investment Group has upped its investment in Macclesfield-based PHP Insurance to 80%. PHP controls gross written premium of £5.5m and is run by directors Jullian Shawcross (pictured left) and Andy Tyrrell (pictured right), who both remain shareholders in the business.
Posted: 2024-04-02
GIC has become Miller’s majority shareholder after buying Cinven’s shares in the re/insurance broker. GIC and Cinven first invested in Miller in 2021. The deal was completed for an undisclosed consideration.
Posted: 2024-04-02
Fleetmaxx Solutions, which specialises in delivering fuel and fleet cost reduction, has teamed up with Artura Consultancy and Agile Developments to launch an app to improve the way fleets manage accident claims.
Posted: 2024-04-02
Claims management and loss adjusting specialist Sedgwick has named Peter Farrelly (pictured) as its chief operating officer in the UK. He has served as managing director for Sedgwick’s UK commercial claims services since 2019.
Posted: 2024-03-28
Moody’s Investor Service has published a report forecasting an increase in claims for trade credit insurers driven by an expected rise in the number of commercial insolvencies during 2024. However, it said the insurance sector was well-placed financially to absorb these losses and expected it to maintain underwriting discipline during the year.
Posted: 2024-03-28
Insurance sector law firm Fenchurch Law has announced that 60% of its shares will now be owned by employees, through its newly formed employee ownership trust. Employees will also have the opportunity to put themselves forward to join the firm’s management team.
Posted: 2024-03-28
The Competition and Markets Authority has given the green light to the proposed merger between Markerstudy Group and Ardonagh’s personal lines broking business, Atlanta Group. The deal, announced in September 2023, will create an organisation controlling gross written premium of more than £3bn.
Posted: 2024-03-27
Pool Re and HM Treasury have struck an agreement to modernise the terrorism reinsurance scheme offered by the government-backed carrier. The deal will see the scheme move from a facultative treaty to an aggregate catastrophe excess of loss treaty.
Posted: 2024-03-27
Professional services and technology business Davies has acquired Shoreside Law, a commercial and maritime litigation firm, specialising in shipping, commercial insurance and energy disputes. The team of lawyers from Shoreside will join Davies’ existing legal solutions business, Keoghs, and will be based in Davies’ London headquarters.
Posted: 2024-03-27
Independent finance broker Montane Finance has established an insurance division focused on clients in the healthcare and hospitality sectors. Montane Insurance Services is based in Winsford, Cheshire. Adam Lee (pictured right) has joined from Gen2 to head up the new division.
Posted: 2024-03-26
Specialist re/insurance broker BMS has recruited Tom Spraggs, Richard Austwick, and Tom Woolcott to bolster its financial and professional risks division. All three join from Howden’s financial institutions team, formerly Protean Risk.
Posted: 2024-03-26
Prestige Underwriting says the cost of the average fire-related home insurance claim has almost quadrupled from £6,583 in 2007 to hit £24,000. In part, it attributed the rise to the increasing prevalence of lithium batteries, which are used in e-bikes and e-scooters. Prestige said the rise in claims cost came despite a 63% reduction in UK domestic fires since 2007.
Posted: 2024-03-26
Specialist managing general agent Qlaims Limited has struck a deal with Howden. Under the agreement, Qlaims will offer its loss assistance insurance to Howden’s UK, SME clients. The broker began offering the Qlaims cover earlier this month.
Posted: 2024-03-25
Independent broker network, Momentum Broker Solutions has announced gross revenue of £15m for 2023, with net revenue exceeding £6m – an increase of 35% on the previous year. It said gross written premium across its 95 appointed representative broker members had jumped 31% to reach £81m.
Posted: 2024-03-25
Blink Parametric, which offers real-time flight delay insurance has teamed up with Zurich Insurance in Asia Pacific and integrated its assistance and claims solution with the Zurich Edge platform. The move enables Zurich to offer eligible policyholders complimentary access to a VIP airport lounge.
Posted: 2024-03-25
Direct Line Group has posted an operating loss of £189.5m for the year ended 31st December 2023, adding to the £6.4m loss reported the previous year. In force policies saw a 0.5% uptick on the previous year to reach 9.44m while gross written premium and associated fees improved by more than 27% to hit £3.1bn.
Posted: 2024-03-22
Convicted travel insurance fraudster Sam Carr of Bolton has received a suspended sentence for two years, and must also complete 200 hours of unpaid work and a 30-day rehabilitation activity. He had previously plead guilty to 10 counts of fraud by false representation in making bogus travel insurance claims worth an estimated total of £75,000.
Posted: 2024-03-22
Premium finance provider PremFina has signed a deal with broking network Blink Intermediary Solutions to offer premium finance solutions to its broker members and their personal and commercial clients.
Posted: 2024-03-22
Sabre Insurance Group, which specialises in the motor market, has reported gross written premium of £225.1m for 2023, up from £171.3m the previous year. The carrier’s combined operating ratio improved from 93.4% in 2022, to reach 86.3% in 2023. Profit after tax was £18.1m, up from £14m in 2022.
Posted: 2024-03-21
Safeagent, the not-for-profit accreditation scheme for lettings and management agents, has named Howden as its preferred insurance broker. Under the arrangement, Howden will provide Safeagent firms a packaged solution including property, business interruption, public and employers’ liability cover. Howden will arrange other covers as needed.
Posted: 2024-03-21
The British Insurance Brokers’ Association has appointed Julie Comer as its head of compliance. She took up the position on 18th March and is responsible for assisting members in overcoming their compliance concerns and queries. She joined from Lloyd & Whyte where she was director of risk and compliance.
Posted: 2024-03-21
Tesco Bank has appointed Pinnacle UK as its strategic partner to offer a full end-to-end service to Tesco Bank pet insurance customers, covering sales, servicing, and underwriting. The partnership will come into force on 1st January 2025 and run for five years.
Posted: 2024-03-20
Insurance administration software provider Genasys has announced the launch of Genasys Unify, a significant update to its eponymous platform. The new version is being officially launched today and includes a revamped user interface.
Posted: 2024-03-20
Direct Commercial, the commercial motor managing general agent, has upgraded its Haul in One trading platform. New features include the availability of all client specific documents for download from the system.
Posted: 2024-03-20
Industry body Insurtech UK has agreed a partnership with JP Morgan Payments. The deal will see JP Morgan Payments collaborate with Insurtech UK on events and thought leadership projects. Insurtech UK said the deal was a ‘major step’ in its development.
Posted: 2024-03-19
Aviva has completed another step in simplifying its operations and has announced it has completed the disposal of its shareholding in Singapore Life Holdings Pte Ltd, together with two debt instruments, for £937m. The planned exit was first announced in September of last year.
Posted: 2024-03-19
Alps, a specialist provider of insurance add-on policies, legal expenses and motor claims solutions for intermediaries, is offering its claims technology on the open market. The provider said its technology delivered a 50% improvement in claims efficiency and a 13% reduction in cost per claim.
Posted: 2024-03-19
Allianz has rebranded its digital motor insurance business Flow, which is now called Allianz. The insurance is sold direct to consumers as well as being available on price comparison sites. The move supports the previously announced rebrand of LV= Broker, scheduled for May 2024.
Posted: 2024-03-18
Howden Tiger, the reinsurance and capital advisory arm of Howden Group, has appointed Carrie Byler as managing director, head of US General casualty to further accelerate the growth of its US casualty division.
Posted: 2024-03-18
Lockton Re Capital Markets has appointed Brendan Roche as head of distribution. He will be based in Europe. He has more than 25 years of market experience and was an SVP at GC Securities and previously spent almost 14 years at Marsh, most recently as global leader of ILS and SPV Centre of Excellence.
Posted: 2024-03-18
Markerstudy Group has rebranded its broking division from Markerstudy Broking to Markerstudy Distribution. It said the new name better represented the breadth of products and services across the division, which encompasses a number of own-brand broking specialists and significant partnerships.
Posted: 2024-03-15
Embedded insurance specialist Open has acquired UK-based insurtech SO-SURE, which focuses on mobile protection and contents products. Open partners with brands such as Bupa and Polestar to deliver embedded car, home, travel and landlord insurance products to their customers.
Posted: 2024-03-15
In a bid to help brokers navigate the niche schemes market, Axa Commercial has launched an online directory detailing a selection of the insurer’s partners and the Axa-underwritten products it offers across a range of non-standard trades and sectors. The directory covers six categories - specialty, contractors, liability, motor, property and combined.
Posted: 2024-03-15
QBE has launched its new Healthcare Practice, which will be led by Doug Walker and supported by a team in London and underwriters in QBE’s regional offices in Bristol, Birmingham, Manchester, Leeds, Glasgow and Belfast.
Posted: 2024-03-14
AEGIS London, which operates Lloyd’s Syndicate 1225 has announced a combined ration of 79.4% for 2023, which is an improvement of 4.4 percentage points on the 83.8% in 2022. It also announced UK GAAP profit of £206m, in comparison to the £97m achieved in 2022. Premium gross of commissions was £1,040m in 2023 an increase of 15% on 2022’s premium of £908m.
Posted: 2024-03-14
The Chartered Insurance Institute’s 2023 Corporate Chartered Equality Diversity & Inclusion survey has highlighted positive business outcomes for companies that implement equality, diversity and inclusion practices and policies. These include improvements in creativity and innovation, and increases in employee engagement levels.
Posted: 2024-03-14
Seventeen Group has acquired Hendricks Insurance, which is based in St Andrews and has a gross written premium of £2.8m. It has also purchased Keith Miller Insurance Services Ltd, which controls gross written premium of £2.5m and is focused on the South East.
Posted: 2024-03-13
Academy Insurance Services has struck a deal with Allianz Holdings plc to purchase Allianz Business Services Ltd, which trades as Premierline. Launched in 2001 as the UK’s first direct to consumer commercial offering, it became part of Allianz in 2006.
Posted: 2024-03-13
Zurich UK has announced that its general insurance business prevented £78.5m worth of fraud during 2023. This included £15.5m in property claims, an area in which fraud levels have doubled in the past two years, according to the carrier.
Posted: 2024-03-13
A survey of brokers’ opinions has shown that regulation is their biggest operational concern in 2024 with finding appropriate markets and attracting talent also registering as significant problems. The poll was conducted by Rebuildcostassessment.com at the recent Bravo National Conference in Birmingham.
Posted: 2024-03-12
Connected car data and devices provider Trakm8 has agreed a two-year extension to its contract with Direct Line Group. The agreement covers the provision of Trakm8’s “connectedcare” data sets and AI-driven first notification of loss crash algorithm.
Posted: 2024-03-12
Online aggregator Compare Insurance has announced income of more than £3m for 2023 and said more than £1m of this total was new business. The firm said it had grown by 60% during the year and forecast growth of a further 50% in 2024.
Posted: 2024-03-12
Pearson Ham Group's February 2024 Insurance Price Index has shown an uptick in pricing across the home, motor and travel sectors. Motor pricing nudged up 0.6%, while home insurance was up 3.7% and travel increased by 4%.
Posted: 2024-03-11
Specialty re/insurer IQUW, which was established in 2021, has reported gross written premium of approximately £710m for 2023. This is an increase of 35% on the previous year. It said its combined operating ratio for the year was 80.9%.
Posted: 2024-03-11
The Managing General Agents’ Association has confirmed the appointment of three new directors to its board at its annual general meeting and highlighted that the organisation now has more than 400 members. The new board members are Ian Cook, managing director of MX Underwriting; Daniel Berry, chief underwriting officer at Brown & Brown Europe and Paul Brady, market oversight counsel at Lloyd’s.
Posted: 2024-03-11
Hastings Direct has licensed Verisk’s UKBuildings granular property database to give it a better insight into the various attributes of properties across the commercial and residential sector. The data will enable Hastings Direct to refine its risk assessment and underwriting analysis.
Posted: 2024-03-08
Allianz Commercial has appointed four regional distribution managers for the South (Victoria Ashman), North (Mark O’Brien), London (Julie O’Donovan) and Midlands & the South West (Viral Patel ) regions in a bid to improve the support offered to brokers. Each individual will have responsibility for overseeing the sales and distribution strategy and establishing long-term relationships with partner brokers.
Posted: 2024-03-08
Vehicle tracking and recovery specialist AX Track has entered into a Home Office subsidised collaboration with Gloucestershire Police to help reduce agricultural machinery and vehicle theft in the county. The collaboration aims to both improve recovery rates and create a more powerful deterrent.
Posted: 2024-03-08
The winners of the 2024 National Insurance Awards were announced last night at a gala dinner and awards ceremony at the London Marriott Hotel, Grosvenor Square. Hosted by the brilliant Hal Cruttendon, the fastest growing awards in the insurance industry highlight the very best in general insurance provision and management.
Posted: 2024-03-08
Simply Business has expanded its relationship with Zurich so that the carrier can now provide quotes for businesses with a turnover of more than £750,000 through the digital broker. Simply Business said the move would help meet increased demand from larger businesses seeking digital insurance quotes.
Posted: 2024-03-07
RSA Insurance has overhauled its accident and health proposition and launched a new group personal accident and business travel product. The cover is supported by Healix, a healthcare and risk management solution provider and Teladoc Health UK, a virtual healthcare provider. It is aimed is aimed at mid-market businesses through to large multinationals.
Posted: 2024-03-07
Advantage Financial Services Limited, which is a wholly owned subsidiary of The Advantage Travel Partnership, has purchased broker Cork, Bays & Fisher from Kingfisher Insurance Services Limited. The deal includes the brand and book of business and will see most of the team moving to Advantage.
Posted: 2024-03-07
Arc Legal Group, part of AmTrust Financial Group, has signed a deal with HomeServe. Under the arrangement, Arc Legal will provide its home accident cover to HomeServe’s policyholders. The cover provides assistance to householders in the event of an accident resulting in injury, leading to hospitalisation or death.
Posted: 2024-03-06
Legal firm Horwich Farrelly is expanding its operations in Northern Ireland and has moved into a bigger Belfast office in the Lincoln Building, Victoria Street, to accommodate the growth. The firm is seeking to grow its presence in the marine and aviation market on top of the work it currently does in areas such as injury, recoveries and counter fraud.
Posted: 2024-03-06
Insurance software solutions provider VIPR has appointed that Tony Russell (pictured) as chief revenue officer, effective 1st March. The firm welcomed his expertise in aligning sales and business strategies. His career has spanned three decades and he has previously held senior roles at organisations such as Charles Taylor InsureTech.
Posted: 2024-03-06
Watkin Davies Insurance Consultants, which is part of part of Howden, has secured a long-term partnership with Welsh Gymnastics, the sport’s governing body, to provide an insurance programme for both the organisation and its associated members.
Posted: 2024-03-05
Open & Direct estimates that 20% of home insurance quotes are turned down by providers because they have non-standard elements to the risk. The intermediary is calling for these customers to be signposted towards a potential solution, mirroring the approach taken in the home and travel market since 2012.
Posted: 2024-03-05
London market wholesale broker GAWS of London Limited, has rebranded to Evolin Broking Limited. The company is based in London and has a team of 40 people. It is an approved Lloyd’s of London broker and coverholder.
Posted: 2024-03-05
Bspoke Group has completed the acquisition of parts of the personal lines elements of the Police & Forces Mutual businesses, Police Mutual Healthcare and Police Mutual General Insurance, from The Royal London Mutual Insurance Society Limited. The move sees around 250,000 general insurance policies and 16,000 healthcare policies transfer to Bspoke.
Posted: 2024-03-04
Comparison site Money Expert has found 35% of drivers will consider monthly payment options when they next renew their motor policy due to recent rate rises. The figure jumps to 51% for drivers aged 35 to 44 and to 40% for those aged 18 to 40.
Posted: 2024-03-04
The Association of British Insurers has launched a new campaign to raise awareness of the fact that insurance premium tax affects 84% of households in the UK and has doubled to 12% since October 2015. The campaign is being fronted by a mascot named Snippy (pictured).
Posted: 2024-03-01
Bravo Networks, which comprises Broker Network and Compass, has launched Bravo Digital Trader. The e-trade platform caters for SME regional business and matches cases with insurer appetite. It was launched at the Bravo Networks annual conference in Birmingham (pictured).
Posted: 2024-03-01
Financial services review site, Smart Money People has forecast an 11% net increase in the pet insurance market over the coming year after commissioning research from Consumer Intelligence. It said the rise will be driven by a combination of people increasing their existing level of cover and those taking out a policy for the first time.
Posted: 2024-03-01
Direct Line has issued a firm response to a proposed takeover by Ageas, rejecting the approach as ‘unattractive’ and ‘highly opportunistic’.
Posted: 2024-02-29
Innovative Risk Labs and Apollo have launched a new product that aims to protect small and medium-sized UK firms from the cost impacts of parental leave.
Posted: 2024-02-29
The FCA has set out plans to carry out enforcement cases more quickly as the organisation seeks to increase the deterrent impact of its enforcement actions.
Posted: 2024-02-28
Andy Bragoli, Howden’s global head of placement, has been appointed as new chair of LIIBA, the body for London market insurance brokers.
Posted: 2024-02-28
Specialist marine MGA Amphitrite Underwriting London has received full authorisation from the Financial Conduct Authority, effective 31 January 2024.
Posted: 2024-02-27
The ABI has unveiled a series of steps the industry is taking to combat the rising costs of motor cover. In collaboration with its consumer advisory group, the ABI will commission research into the feasibility and impact of various social policies focused on helping low-income households manage their insurance costs.
Posted: 2024-02-27
Mosaic Insurance has launched a suite of specialised financial institutions products, offering US$25m in investment management insurance, combined with cyber and other coverage for asset managers, funds, and associated directors.
Posted: 2024-02-26
Oakland Insurance has partnered with Machine Learning Programs to implement its predictive AI enrichment model, MLP Score.
Posted: 2024-02-26
Cyber risk specialist Kynd has announced a partnership with Lloyd’s syndicate Probitas 1492 to support its cyber book.
Posted: 2024-02-23
Allianz Holdings delivered growth across the business with a 7.4% increase in revenue to £4.26bn (from £3.9bn in 2022). Operating profit increased by 65% to £241.6m. Full year results for Allianz Group have shown a total revenue of £6.5bn, despite the ‘challenging’ backdrop of inflationary pressures.
Posted: 2024-02-23
Axa Global Healthcare has started the phased rollout of a new healthcare payment card to simplify the claims process for its corporate clients and their employees.
Posted: 2024-02-22
Zurich has posted record profits of US$7.4bn, up 21%, for 2023.
Posted: 2024-02-22
Brokerslink has added technology consultancy White Gate Consulting to its network. White Gate is a technology consultancy specialising in digital systems for the insurance, broking and fintech markets.
Posted: 2024-02-21
KoiReader Technologies has teamed with Loadsure to provide its autonomous OCR AI technology solutions to the cargo and logistics community.
Posted: 2024-02-21
Paymentshield has introduced improvements to its home insurance offer, including an overhaul of its core limits. The move follows market research with both customers and advisers, conducted alongside the firm’s insurance partners.
Posted: 2024-02-20
House rebuilding costs will grow no more than 2% per annum until 2030, aligning with the UK consumer price inflation figure from the IMF until 2028, according to figures from Prestige Underwriting. The in-depth assessment of rebuilding costs was undertaken with Finaccord to forecast future impacts on home insurance.
Posted: 2024-02-20
Agile Developments Group is to provide Hummingbird Insurance Services with a bespoke iteration of its Agile Claim App portal and dashboard, tailored to meet the specific needs of its fleet clientele.
Posted: 2024-02-19
Ardonagh Specialty has reached an agreement with Whitespace to widen the adoption of the e-trading platform for its Price Forbes brokerage. All lines of business are now starting their placements from data-first templates on Whitespace, with API integration being delivered throughout 2024.
Posted: 2024-02-19
Price comparison website Moneysupermarket has posted record group revenue of £432.1m for the financial year to 31 December 2023, up 11% on the previous year and largely based on what the firm describes as ‘exceptional’ trading in the insurance segment.
Posted: 2024-02-19
House rebuilding cost inflation calmed considerably in 2023, following a period of large price increases. Annual growth in the Building Cost Information Service/ABI house rebuilding cost index was 2.7% at the end of 2023, compared to 19.4% at the end of 2022. The latest data for January 2024 shows it was up 2.1% on the previous year.
Posted: 2024-02-16
More than half of young drivers admit they are struggling to afford cover and 90% believe the government should offer support, according to a survey by telematics firm Trakm8.
Posted: 2024-02-16
Charity insurance specialist Ansvar has launched a new business, office and retail policy, specifically designed for the activities of social enterprises, commercial organisations, shops, and offices.
Posted: 2024-02-16
Trawick International has entered into a sale and purchase agreement with Greenlight Insurance Services to acquire a controlling stake in the firm.
Posted: 2024-02-15
Acturis has announced a long-term partnership with specialist home, landlord and tenant broker First2Protect.
Posted: 2024-02-15
AXA UK & Ireland has announced Gwenaël Fourré as chief operating officer. He joins on 4 March from AXA France where he is currently chief digital officer.
Posted: 2024-02-14
Insurance network GBN Worldwide has launched GBN Worldwide Risk Solutions, a London-based independent broker and MGA.
Posted: 2024-02-14
PoloWorks has launched Polo Insurance Managers after the Guernsey Financial Services Commission granted approval in principle.
Posted: 2024-02-14
Insurtech MGA Loadsure has introduced Columbia motor truck cargo and logistics services Insurance, a new offer purpose-built for the logistics sector.
Posted: 2024-02-13
Allianz Commercial detected £77.4m worth of claims fraud in 2023 – up from £70.7m in 2022 – with application fraud savings of £1.95m. The insurer says that the current cost-of-living crisis is having a continued impact on businesses, with the financial struggle leading to an increased insurance fraud threat.
Posted: 2024-02-13
Independent specialist insurance and reinsurance broker, BMS, has partnered with Artificial Labs to adopt its Contract Builder as part of a programme to use digital placing initiatives across the brokerage.
Posted: 2024-02-13
Multiple insurance firms have agreed to pause sales of Guaranteed Asset Protection insurance, following a request from the FCA. The firms which have agreed to this action account for 80% of the GAP market.
Posted: 2024-02-12
Broker and risk advisor Marsh has appointed Shannan Fort as international cyber product leader at Marsh Specialty.
Posted: 2024-02-12
Claims handlers are facing second-hand trauma as a result of handling distressing cases, according to a report by the CII New Generation Programme claims group.
Posted: 2024-02-12
Prestige Insurance Holdings has announced the acquisition of Find Insurance NI, a locally-owned insurance brokerage based in Derry-Londonderry.
Posted: 2024-02-09
Specialist cyber insurer CFC has created a dedicated team to focus on underwriting tax risks as part of its transaction liability practice.
Posted: 2024-02-09
Commercial insurance and reinsurance software provider AdvantageGo has partnered with claims management system firm DOCOsoft to link their offerings and provide brokers with a holistic view of business written.
Posted: 2024-02-09
Legacy solutions provider RiverStone International has completed the acquisition of Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland.
Posted: 2024-02-08
Xenia Broking Group has announced Steven Stennett as its new chief executive officer. Stennett brings over 25 years’ experience in the trade credit insurance sector, holding leadership roles in business development and account management at country and international levels.
Posted: 2024-02-08
Pet insurance premiums rose by 13% over the last year with the largest increases observed between August and September, according to figures from Pearson Ham Group.
Posted: 2024-02-08
Specialty insurer and reinsurer SiriusPoint has appointed Chris Fenn as head of marine, London and John Hopper as head of energy. The firm says that the appointments are part of the strategic growth of these business lines and wider plans to strengthen its teams across the international business, including Lloyd’s Syndicate 1945.
Posted: 2024-02-07
The cost of an average home insurance premium rose 4% in Q4 of 2023, as insurers were hit by a succession of storms battering the UK, according to the latest household premium tracker by the ABI.
Posted: 2024-02-07
Comedian Hal Cruttenden has been confirmed as the host for this year’s National Insurance Awards. A comedian, actor and writer, his credits stretch from Eastenders and Shackleton all the way to Have I Got News for You and Mock The Week.
Posted: 2024-02-07
Ardonagh Advisory has acquired Solutions Healthcare Ltd, a whole of market healthcare insurance broker serving commercial clients and individuals across the UK.
Posted: 2024-02-06
Risk and claims management service provider Gallagher Bassett has appointed Manan Sagar as CEO of its UK operations.
Posted: 2024-02-06
NBS Underwriting has added multi-location hospitality cover to its portfolio. Aimed at meeting the needs of the leisure, hospitality, and retail sectors, the new product addresses the specific requirements of businesses with multiple locations or chains.
Posted: 2024-02-06
The latest findings from Pearson Ham Group’s January 2024 Insurance Price Index reveal that premium pricing across personal lines continues to be on the rise, with the exception of the UK motor insurance sector, which experienced a notable slowdown in premium inflation.
Posted: 2024-02-05
Ignite has partnered with specialist motor and commercial insurance broker Quotax Insurance Services to become its new broking system provider.
Posted: 2024-02-05
Risk and resinsurance specialist Guy Carpenter launched a new cyber reinsurance product designed to test the volatility of cyber risk.
Posted: 2024-02-05
Hadron has announced its expansion into the UK market with the acquisition of Folgate Insurance Company Limited. The move widens Hadron’s footprint from its activity across 50 US states into the UK.
Posted: 2024-02-02
Cyber specialist insurer CFC has appointed Jason Hart to the newly-created role of head of proactive cyber.
Posted: 2024-02-02
Law firm Kennedys has published a report into the key challenges facing the global insurance market during the year ahead and has highlighted a host of fast changing factors – including AI and biodiversity loss – as issues insurers will increasingly have to tackle.
Posted: 2024-02-02
The Association of British Insurers said the average price paid for motor insurance in Q4 of 2023 was up by 12% on the previous quarter and by 25% for the year. According to the ABI’s Motor Insurance Premium Tracker, the average premium paid for private motor insurance in Q4 was £627.
Posted: 2024-02-01
Travel insurance specialist, True Traveller has promoted Stefan Baker to the role of director and general manager. Baker has been with the intermediary for over nine years and moves up from his position of sales manager, which he was promoted to in 2022. Previous to that, he held the role of senior insurance consultant. Amongst his new responsibilities, Baker will be in charge of developing and implementing the company’s strategic vision, providing leadership in aligning its mission and values, as well as ensuring compliance with industry regulations and laws.
Posted: 2024-02-01
Re/insurer Markel Group’s consolidated underwriting results show net written premiums of approximately £6.6bn, for 2023, up 2% on the previous year. Its combined operating ratio deteriorated to 98.4% from the 91.7% announced for 2022.
Posted: 2024-02-01
Howden has bolstered its UK risk management capabilities with the acquisition of Rugby-based AHR Consultants, which focuses on providing HR, employment law, training and health and safety services.
Posted: 2024-01-31
HDI Global says its proprietary generative AI model, HDI-GPT is providing, for the first time, real-time insights from unstructured data in text or image form. The insurer said the technology was enabling the business to make its processes more efficient in complying with data protection and compliance standards.
Posted: 2024-01-31
Azline Bulmer, executive director of the Chartered Insurance Institute, will leave the professional body at the end of February, two months ahead of her fixed term contract. The CII recently announced the appointment of Matthew Hill as CEO. He joins in April following the departure of previous CEO, Alan Vallance.
Posted: 2024-01-31
Risk engineering and risk data solution provider, Risk Solved Ltd, has teamed up with Vectur Energy, a UK specialist in the reduction of uncontrolled emissions from energy production. The partnership aims to produce insights that enable underwriters to increase profitability.
Posted: 2024-01-31
Davies has secured funding from the Department of Education to support an education programme designed to improve data skills in the insurance industry. The funding will underpin the delivery of 12-week digital skills bootcamps, which are free for learners, for two years.
Posted: 2024-01-30
Howden has developed a product to cover carbon dioxide leaks from commercial carbon capture and storage facilities. The insurance is led by SCOR’s syndicate at Lloyd’s and provides cover for environmental damage and loss of revenue arising from the sudden or gradual leakage of CO2 from CCS projects into the air, land and water.
Posted: 2024-01-30
Following a Freedom of Information request, the Association of Consumer Support Organisations has said data from the government’s Compensation Recovery Unit shows a record low in Q4 2023 for motor injury claims (83,050), contributing to an all-time low for annual claims of 352,230.
Posted: 2024-01-29
Managing general agent, NBS Underwriting has launched an excess of loss liability product offering up to an additional £5m of public liability cover. It is designed to cater for more than 140 trades including leisure, hospitality, warehousing, manufacturing, contracting and engineering.
Posted: 2024-01-29
Inner London Crown Court has sentenced Alfred Gallinelli to 12 months imprisonment, suspended for 18 months. He pleaded guilty to making claims for damage to a flat screen television and receiving payouts worth £31,590 on multiple home insurance policies taken out using fake names.
Posted: 2024-01-29
Managing general agent and Lloyd’s syndicate Carbon Underwriting Limited has named Dale Willetts (pictured) as head of specialty. He joins from Sompo International where he built the A&H portfolio. At Carbon, he will also be responsible for developing the firm’s technology capabilities.
Posted: 2024-01-26
Birmingham-based broker Adler Fairways has purchased London-based legal indemnity specialist, Intelligent Real Estate Due Diligence, which was founded in 2010 by directors Robert McNally and Moz Gamble. Adler Fairways operates from seven offices across the UK providing services to both private and commercial clients.
Posted: 2024-01-26
London-based managing general agent Africa Specialty Risks has secured approval ‘in principle’ from the Dubai Financial Service Authority to register as a company. The firm aims to incorporate a new entity, ASR Middle East and then establish an office in the Dubai International Financial Centre.
Posted: 2024-01-26
Price Forbes, which is part of Ardonagh Specialty, has launched a new real estate and legal indemnity practice. The announcement comes with the appointment of Mark Manwaring (pictured) as managing director of real estate, Craig Taylor as executive director of real estate and Dave Woolley as executive director of legal indemnities.
Posted: 2024-01-25
MGA and broker services platform OneAdvent has launched Criterion Ltd, an MGA focused on waste management, recycling and mining business, both in the UK and in Australia and the Republic of Ireland. There are plans to extend this reach to include the USA and Canada.
Posted: 2024-01-25
Specialist motor insurer ERS has signed a new partnership with insurance intelligence provider Percayso Inform to enhance the carrier’s data enrichment capabilities. ERS is now utilising the Percayso quote manipulation tool across its private car business, with plans to use it across its aggregator-based products including van and taxi over the coming months.
Posted: 2024-01-25
Insurance technology provider Acturis has launched AI Predict, which it has integrated into the Acturis SaaS platform. The new technology will initially provide users with insight on cross-selling opportunities as well as the likelihood of clients renewing.
Posted: 2024-01-24
NPA Insurance, which is a wholly owned subsidiary of the National Pharmacy Association, has partnered with Optimum Speciality Risks to offer members insurance that offers cover against losses generated by a cyberattack and includes access to an emergency response team.
Posted: 2024-01-24
Argenta Syndicate Management Limited, which is a subsidiary of Argenta Holdings Limited, has announced that Jacqui Grinberg (pictured) will take up the role of chief claims officer having been promoted from her position as deputy CCO.
Posted: 2024-01-24
Envelop Risk, a data-driven cyber re/insurance analytics specialist has teamed up with Apollo’s Strategic Partner Syndicates business and Apollo Syndicate 1971 to launch Envelop SPA 1925, a dedicated cyber reinsurance Special Purpose Arrangement at Lloyd’s.
Posted: 2024-01-23
Research from Lansdown Insurance Brokers has identified storm damage as the cause of more than 25% of the firm’s residential property claims during last year. It said the average cost per claim for storm damage was £3,000.
Posted: 2024-01-23
Law firm Norton Rose Fulbright is seeking start-up and scale-up insurtechs to enter the seventh edition of its Insurathon competition in which firms compete for a £50,000 prize. Winners receive £25,000 of pro bono UK legal and regulatory advice from Norton Rose Fulbright and a potential equity investment of £25,000. The competition was first held in 2017.
Posted: 2024-01-23
New commercial broker Insurance Connections, established by Nathan Walton (pictured) and backed by The Broker Investment Group, has opened for business. Walton previously launched JSW Insurance in 2003, which he sold to The County Group in 2013 and then joined the County board. More recently he has acted as an insurance consultant.
Posted: 2024-01-22
After six years as chief executive of the Motos Insurers’ Bureau, Dominic Clayden (pictured) will leave the organisation in June. A new CEO has already been appointed and will be announced in due course. They will take up the role on 1st July.
Posted: 2024-01-22
General insurance provider Paymentshield is creating a support network for general insurance specialists in the mortgage market, where it said more than a quarter of broker firms (27%) had a general insurance specialist and a further 10% planned to recruit one. Paymentshield will host a series of regional events to support the community.
Posted: 2024-01-22
NatWest Group has appointed Allianz Partners as its travel insurance provider to packaged bank account holders. The agreement starts in February and covers NatWest, Royal Bank of Scotland and Ulster Bank. It builds on Allianz’s existing partnership with other NatWest Group brands, namely Coutts, RBS International and Isle of Man Bank.
Posted: 2024-01-19
Principal Insurance, a broker specialising in niche private and commercial cover for motorcycles, courier vans, and motorhomes has teamed up with Percayso Inform to get access to data intelligence on the likelihood of customers cancelling their policy mid-term.
Posted: 2024-01-19
Specialty re/insurer Canopius has launched a new investment management product for asset managers. The product offers convers including directors’ and officers’ liability, civil liability and financial crime, and can be extended to legal liability for private equity and venture capital firm representatives on portfolio companies.
Posted: 2024-01-19
Aviva has published research that found 8% of homes – almost 110,000 – built in the past 10 years in England are located in national flood zone three, which carries the highest risk of flooding.
Posted: 2024-01-18
Connected car data and device specialist Trakm8 has found that the cost of insurance is preventing some young drivers using their car (8%), while delaying others from buying a car (20) and stopping some from moving out of their family home (10%). Almost a third (30%) said car insurance costs affected their education and career by restricting them to public transport.
Posted: 2024-01-18
QuesetGates has bolstered its UK motor sector capabilities with the acquisition of Kent-based Claims Management & Adjusting, which was established almost 30 years ago. It deals with all types of specialist vehicle claims, including road traffic collision fraud cases.
Posted: 2024-01-18
The latest Confused.com Car Insurance Price Index in association with WTW found that motor insurance premiums have now risen for nine straight quarters since the last three months of 2021. The research recorded an average price rise of 8% (£71) in the final quarter of 2023.
Posted: 2024-01-17
Hafiz Mohammad from Manchester has been sentenced to 10 months imprisonment, suspended for 12 months, following his conviction for offering fraudulent motor insurance policies to Sudanese nationals living in the UK. He must also complete 150 hours of unpaid work, a 15-day rehabilitation activity, and pay victim compensation.
Posted: 2024-01-17
Blink Parametric’s flight disruption cover is being rolled out across the Mawdy Ireland’s InsureandGo travel insurance brand. The move builds on an initial commercial agreement signed last autumn.
Posted: 2024-01-17
The Chartered Insurance Institute has announced that Matthew Hill (pictured) will become its new chief executive officer in April. He is currently chief executive of the Legal Services Board. He has also experience of working at the General Dental Council and Gambling Commission, following more than twenty years in central government.
Posted: 2024-01-16
HDI Global SE UK & Ireland has announced that Kate Sutcliffe will become director of property, UK & Ireland. She joins from Sompo International where she was head of UK retail property, London.
Posted: 2024-01-16
Managing general agent Direct Commercial is to host a series of regional claims clinics focusing on commercial motor claims. The first will be held in Manchester on 7th and 8th February with further events across the country throughout the coming months.
Posted: 2024-01-16
Ryan Speciality has launched PERse International, which is a London-based managing general underwriter specialising in both onshore and offshore renewable insurance and will sit within the group’s underwriting specialty, Ryan Specialty Underwriting Managers.
Posted: 2024-01-15
The Broker Investment Group has finalised an additional investment in Bullerwell Insurance to take give it a 100% shareholding in the Bedford-based broker which controls gross written premium of £12m.
Posted: 2024-01-15
Berkshire Hathaway Specialty Insurance has appointed Nick Holding as head of marine, UK. Based in London he will have responsibility for accelerating the growth of the portfolio. He has 35 years of experience of leading marine insurance teams in the Lloyd’s and company markets.
Posted: 2024-01-15
Commercial and residential property MGA Ventis has opened for business and will write UK risks with a range of cover extensions, including buildings, loss of rent, employers’ liability, property owners’ liability, terrorism, and optional legal expenses.
Posted: 2024-01-12
The British Insurance Brokers’ Association has launched its manifesto for 2024. It is entitled: “Managing risk for growth and economic security,” and prioritises support for the economy, businesses and consumers.
Posted: 2024-01-12
Personal lines insurtech Policy Expert has revamped its leadership team and created seven new senior executive roles to help accelerate its growth and deliver innovations in products and customer services.
Posted: 2024-01-12
The latest Quarterly Insurance Price Index from pricing consultancy Pearson Ham Group found that motor premiums increased by 3% in Q4 2023 and were now almost 47% higher than a year ago. December saw a month-on-month reduction of -0.6%, the first decline in more than 18 months. Combined buildings and contents home insurance premiums were up by 8% in Q4 and by 40% over the year.
Posted: 2024-01-11
Close Brothers Premium Finance has entered into an exclusive arrangement with The Green Insurer to provide finance for its motor insurance customers. The Green Insurer was launched in 2023 and enables policyholders to measure and offset their driving emissions.
Posted: 2024-01-11
Source Insurance has launched a revamped broker portal called The Source, incorporating features such as customisation, data analysis and a 15-second premium predictor. The redevelopment was completed following collaboration with advisers on their needs.
Posted: 2024-01-11
UK trade directory Checkatrade has selected insurance distributor Superscript to provide insurance to its 47,000 members who are required to have various covers in place. Superscript will offer a co-branded digital journey for tradespeople to secure tailored cover.
Posted: 2024-01-10
Aegis Financial Lines, a division of Aegis General Insurance, in partnership with sister company K2 Financial has secured coverholder status from Lloyd’s. The operation is led by Kevin Leach who was previously VP and financial institutions leader at The Hanover Insurance Group. It supports investment businesses and fintechs.
Posted: 2024-01-10
Ardonagh Speciality has named Amy Goldenberg as its first global commercial director with responsibility for business development, organic growth and cross-selling initiatives. She will also seek to implement an international key account strategy for new business production and major client retention.
Posted: 2024-01-10
Ecclesiastical Insurance has teamed up with Haywards Heath-based Brooks Braithwaite, which is part of Petcover Group, to create a new scheme for pet professionals after the incumbent underwriter pulled out. Ecclesiastical has set a target of doubling the size of its business by 2026 and has identified the schemes market as a key area of growth.
Posted: 2024-01-09
Premium Credit has named Giles Offen (pictured) as its first Chief Product and Technology Officer. The firm said the move would support its ongoing investment into its technology proposition and that Offen would lead the development of digitally enabled products and services.
Posted: 2024-01-09
Aon plc has appointed Jane Kielty as UK chief executive officer.
Posted: 2024-01-09
Broker Partners& has launched its sustainability action plan, which focuses on becoming a net zero business, increasing social mobility through proactive initiatives and supporting clients on their own sustainability ambitions. The broker said its 10-point plan was aligned to the United Nations Sustainability Goals.
Posted: 2024-01-08
Multinational group Antares Global, which offers a range of re/insurance products and services, has appointed Kevin Wenzel as chief financial officer. He was previously deputy CFO of Allianz Holdings Plc (UK) and has served as chief actuary of Allianz and CFO of LV.
Posted: 2024-01-08
Gallagher has named Nepomuk Loesti (pictured) in the newly created role of chief commercial officer of its European broking operations. He will have a focus on growing the broker’s presence in Sweden, Norway, Switzerland, Lichtenstein and Turkey. He joins Gallagher from AIG, where he spent the past 17 years.
Posted: 2024-01-08
The Association of British Insurers has reassured businesses and individuals that damage caused by recent tornados and storms in Greater Manchester is covered by standard property insurance policies.
Posted: 2024-01-03
Finn Walsh has been appointed group CEO of travel insurance provider, Staysure. Previously chief customer and technology officer, Walsh joined the business in October 2022 from Hastings Direct, where he was digital and marketing director. With fifteen years’ experience in digital and e-commerce, he brings a wide range of expertise in digital facing roles from The AA, Lloyds Banking Group and Tesco.
Posted: 2024-01-03
A responsive reinsurance market has materialised at January renewals, reflecting “ample capacity and a commercial approach to trading partnerships” – although underwriting rigor remains.
Posted: 2024-01-02
Malago Insurance Brokers has announced its acquisition of Mulberry Insurance Brokers, following the retirement of Keith Johnson.
Posted: 2024-01-02
New motor broker, The Green Insurer will join price comparison site Quotezone.co.uk. On a fortnightly basis, the broker uses each policyholder’s mileage, driving score and car details to calculate the carbon produced. It then offsets this through Earthly, a carbon offsetting specialist.
Posted: 2023-12-22
The Chartered Insurance Institute Group’s Education and Trust is transferring net assets with a value of approximately £2m to The Worshipful Company of Insurers Charitable Trust. The transferred funds will continue to be protected and managed for the same purposes as currently prescribed by the Objects of the Education and Training Trust.
Posted: 2023-12-22
Managing general agent Europa Underwriting has teamed up with insurance software provider Covernet. Under the deal, Europa will use Covernet’s ISMIS platform to improve policy management and operational efficiency. Brokers can also access statements and process monthly accounts directly through the platform.
Posted: 2023-12-22
Aon plc has signed an agreement to acquire NFP for a consideration of approximately £10.6bn. NFP is a middle market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor. It has seven offices in the UK, where its insurance brands include, Ernest R Shaw Limited, Johnson Fleming, KGJ Insurance Group and Bentley Insurance Services.
Posted: 2023-12-21
Cyber security specialist NordVPN has partnered with the insurance market to offer cyber insurance benefits to a range of customers in the UK and the US as a free addition to certain subscription packages. The cyber covers included in NordVPN bundles for UK customers are scam loss recovery and online shopping fraud recovery.
Posted: 2023-12-21
Broker Lockton has signed a strategic partnership with algorithmic underwriting insurtech, Artificial Labs and will implement its Contract Builder tool into its own processes. Lockton said the move would help it streamline the creation and processing of new MRCv3 insurance contracts in line with the London Market’s Blueprint Two programme.
Posted: 2023-12-21
Premium Credit’s Christy Chisholm has been promoted to the position of commercial lines director.
Posted: 2023-12-21
Insurance provider Coalition has said that its UK sensors – honeypots – were attacked 5.8 billion times during 2023 and that 74% of these attacks targeted Remote Desktop Protocol. This technology enables people working remotely to connect to Microsoft Windows computers.
Posted: 2023-12-20
To combat the increasing premiums faced by Range Rover owners in the face of issues around theft, Land Rover Insurance is offering a new insurance solution for owners. The comprehensive cover is available via monthly subscription and is also open to Defender and Discovery owners.
Posted: 2023-12-20
Ardonagh Advisory will acquire Westfield Brokers Ltd, which is a commercial broker based in Horsham, West Sussex. It trades under the name of Westfield Insurance. The business was set up in 2009 by managing director Peter Cowan, who will continue to lead the firm.
Posted: 2023-12-20
Lloyd’s has extended its tenure of One Lime Street until 2035 and has an option to extend this until 2040. Chinese Insurer Ping An has owned the grade I listed building since 2013. The agreement allows Lloyd’s to make renovations and refurbishments and to implement decarbonisation measures.
Posted: 2023-12-19
Broker Simply Business has broadened its partnership with RSA and the insurer will now provide quotes for contracting businesses with up to 15 employees. The move follows the six-fold increase that Simply Business has experienced of potential customers with larger businesses seeking quotes through a digital journey.
Posted: 2023-12-19
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has secured approval from the Prudential Regulation Authority and Lloyd’s for its strategic partnership with global private markets manager, CVC.
Posted: 2023-12-19
The Insurance Series 2024: Insurtech & Claims Early Bird rate of £495 will be closing at the end of this year, so book in 2023 to save £100! Our topical agenda for the day features presentations, panels and debates, curated to help general insurance professionals harness the latest in thinking and technology, guided by some of the field’s foremost experts.
Posted: 2023-12-19
Lloyd’s has revealed details of a new US Direct Lending Fund that will be available on the Lloyd’s Investment Platform. Canopius, alongside the Lloyd’s Central Fund, will provide cornerstone investment for the launch of the fund. Schroders Capital, on behalf of the Lloyds Investment Platform, has selected Maranon Capital LP to manage fund strategy.
Posted: 2023-12-18
Alain Zweibrucker (pictured) will take up the role of chief executive officer of Axa Retail on 2nd January 2024. He will become a member of Axa UK & Ireland’s management committee and report to Tara Foley, CEO of Axa UK & Ireland. He joins from Axa Switzerland where he was chief financial officer.
Posted: 2023-12-18
Patricia Kocsondy will become Beazley’s head of global cyber digital risks on 1st January with a responsibility for setting the global product and distribution strategy for all of the insurer’s cyber business below approximately £200m. She is currently head of US cyber and technology.
Posted: 2023-12-18
Mission Underwriters, which supports the creation of new managing general agents, has struck a deal to deal to support Ventis, a new real estate MGA set to launch in 2024. Ventis will target small to medium property risks and will be led by Gareth Roberts, who previously managed Covéa’s mid-market specialist and network division.
Posted: 2023-12-13
Jensten has strengthened its position in East Anglia with the acquisition of Scrutton Bland Insurance Brokers. Scrutton Bland has a particular focus on commercial property as well as specific experience in the charity and agriculture sectors. It brings to Jensten a team of more than 50 employees and gross written premium of £22m.
Posted: 2023-12-13
Brown & Brown (Europe) Limited has acquired R McGee Insurance Brokers Limited, which is a family run personal and commercial lines broker based in Maesteg, Glamorgan. It was established in 1974 and is led my managing director Andrew McGee, and fellow directors Julie McGee (Andrew’s wife) and son Simon.
Posted: 2023-12-13
Broker Marsh has teamed up with insurer Beazley to offer construction contractors access to additional professional indemnity cover based on their environmental, social and governance performance. The additional capacity will be available internationally, to clients outside of the US.
Posted: 2023-12-12
Ardonagh Advisory has snapped up insurance technology and risk management specialist, RiskSTOP Group. Based in Poundbury, Dorchester, it was established in 2000 and employees more than 200 people. Danny Lillington, the firm’s managing director, will continue to lead the business with his existing management team.
Posted: 2023-12-12
Alula Technologies, which specialises in the insurance, healthcare and pension markets, has set up headquarters in London at Devonshire House, 1 Mayfair Place. The firm, which is backed by Rox Equity Partners, said the move would help it achieve its expansion ambitions.
Posted: 2023-12-12
Employee-owned Lloyd’s insurance broker CBC (UK) Limited has announced a deal with Specialist Risk Group to combine the two businesses. The deal follows the CBC management buyout that was initiated in 2017 by Andrew Wallas and Rob Cottingham and had private equity support from B P Marsh and Partners PLC.
Posted: 2023-12-11
International insurer QBE, which operates through eight regional offices in the UK, has become a partner of the British Insurance Brokers’ Association. QBE said the move to BIBA partnership represented an important step in its bid to further grow its UK operations.
Posted: 2023-12-11
Ahead of its centenary celebrations in 2024, insurance broker Butterworth Spengler has completed a corporate rebrand. The broker became part of the JMG Group in 2021 and has three divisions – commercial insurance, professional risks, and specialist schemes.
Posted: 2023-12-11
It is believed that BNP Paribas Personal Finance has decided to terminate its premium finance offerings next year.
Posted: 2023-12-10
Royal & Sun Alliance Insurance Limited, a subsidiary of Intact Financial Corporation, has announced the sale of its direct personal lines operations – home and pet insurance – representing approximately £165m of annual premiums, to Admiral Group plc. The deal includes an initial cash consideration of £82.5m, with a potential additional payment of up to £32.5m.
Posted: 2023-12-08
Amanda Blanc, group CEO of Aviva; Clive Bolton, CEO of M&G Life Insurance; and Tara Foley (pictured), CEO of Axa UK & Ireland have all joined the board of the Association of British Insurers with immediate effect.
Posted: 2023-12-08
Open GI has partnered with managing general agent Prestige Underwriting to launch a revamped version of its non-standard home insurance proposition, Coverall. Enhancements
include IHP Plus, a stand-alone, cloud-based pricing solution from Open GI, as well as access to Flood Re.
Posted: 2023-12-08
According to the latest Direct Commercial Broker Barometer for Q3, 78% of brokers said they had seen an increase in complex losses, while 91% said they had seen claims costs rise during the same period. As a result, 66% believed there was a growing need for carriers to provide better guidance to help expedite claims reporting and to mitigate costs.
Posted: 2023-12-07
Aviva research has found that 20% of UK businesses have experienced a cyberattack. It said that 9% of small businesses and 35% of large corporates have gone through this in the past year. The research showed 31% experienced operational disruption, while 21% experienced data loss and system lockdowns. Aviva said average losses were £21,000 per incident.
Posted: 2023-12-07
Digital risk processing platform Cytora has teamed up with data provider Vespia and will use Vespia’s AI-powered risk analytics to provide better information to commercial underwriters about business risks associated with money laundering and sanctions.
Posted: 2023-12-07
Managing general agent Optio Group has partnered with AmFirst Insurance Company to secure underwriting capacity for political violence and terrorism risks. AmFirst will provide capacity to the PVT market for the first time exclusively via Optio, enabling Optio to accept PVT risks internationally, excluding the US.
Posted: 2023-12-06
Insurtech Ripe has launched a new product, underwritten by ERS, to cover motorhomes and campervans, expanding on the cover it already provides for static and touring caravans. Ripe said it was using its proprietary technology and ‘build your own policy’ model to deliver quotes in less than 120 seconds.
Posted: 2023-12-06
AutoProtect Group has confirmed Graeme Nieman as permanent CEO. He has served as interim CEO since May 2022. Prior to this, he was head of motor product partnerships at Correlation Risk Partners, AutoProtect Group’s sole shareholder. AutoProtect supplies value-added insurance products and warranties to the motor market.
Posted: 2023-12-06
Insurance sector investor Beat Capital Partners has launched a specialist accident and health underwriter called RedRiff Agency Limited. It will begin underwriting in the first quarter of 2024 through a Lloyd’s consortium, led by Beat Syndicate 4242. Peter Wilkins, previously global CUO at QBE, will join as CEO this month.
Posted: 2023-12-05
The Sollers Prediction Report 2024 from Sollers Consulting says high reinsurance costs and the ongoing impact of claims inflation will force insurers to redefine their business models. To support the required increase in process automation, it says insurers will need to implement cloud-based solutions and develop better data management capabilities.
Posted: 2023-12-05
Property, commercial and speciality re/insurer IQUW has appointed Diane Gallagher as group chief people officer. She joins IQUW from Talbot where she was HR director.
Gallacher will serve on IQUW Group’s executive committee.
Posted: 2023-12-05
Re/insurance broker Miller has launched an artificial intelligence tool, based on technologies from Microsoft and OpenAI, called MillerMo. It will act as a personal assistant and assist employees with tasks including proofreading, content generation, translation, analysing data sets and software development. MillerMo was developed by MillerLabs, Miller’s inhouse innovation incubator.
Posted: 2023-12-04
State National Companies, a wholly owned subsidiary of Markel is partnering with Markel International Insurance Company Limited to create a programme services division in the UK to serve managing general agents. It plans to launch from the start of next year.
Posted: 2023-12-04
Broker Tysers has named Acord Solutions Group as its strategic messaging partner. Under the agreement, Tysers will implement Adept and Acord Transcriber to streamline digital data extraction and exchange through its Tconnect platform.
Posted: 2023-12-04
Ecclesiastical Insurance has penned an agreement with Towergate Care to offer property capacity for larger care home providers. The move is part of Ecclesiastical’ s bid to expand its schemes business. Towergate is the preferred insurance provider to Care England and National Care Forum.
Posted: 2023-12-01
Polo Managing Agency has struck a deal with VIPR Solutions that will see PoloWorks’s managed delegated authority relationships have access to VIPR’s bordereaux management systems, which it said align with Lloyd’s reporting standards V5.2.
Posted: 2023-12-01
Re/insurer Apollo has written its first risks under its new Smart Follow venture, powered by algorithmic underwriting insurtech, Artificial Labs. The collaboration was announced earlier in the year and now spans hull, aviation, cargo and terrorism lines of business.
Posted: 2023-12-01
Research from Premium Credit’s latest insurance index found that 52% of SMEs now use credit to pay for insurance – up from 50% last year. 42% of SMEs said their insurance costs had risen and 24% of those firms said they had increased their excess as a result of higher insurance costs in the past two years, while 17% said they has cancelled one or more policies.
Posted: 2023-11-30
Bespoke Insurance Group Ltd, which is backed by private equity investors RCapital Partners LLP and MIG Partners LLP, is to acquire the personal lines elements of the Police & Forces Mutual businesses, Police Mutual Healthcare and Police Mutual General Insurance, from The Royal London Mutual Insurance Society Limited.
Posted: 2023-11-30
Claims Consortium Group has warned insurers that around two-thirds of subsidence claims are not attributable to subsidence. It said failure to correctly assess these claims could be costing the insurance market millions of pounds in unnecessary payouts.
Posted: 2023-11-30
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
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.
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