Articles by Emmanuel Kenning
Insurance ban on Russian oil ships - report
The UK and EU have teamed up to ban the insurance of ships carrying Russian oil, the Financial Times has reported.
Richard Lloyd steps up as interim chair at FCA
Richard Lloyd has become chair at the Financial Conduct Authority on an interim basis taking over from Charles Randell.
Interview: Sue Langley, chair of Gallagher UK
The Gallagher leader discusses her time in the job, making deals and the insurance sector’s need for talent along with sharing her views on improving diversity and inclusion in the market as well as how she coped with lockdown.
Accredited deal sees QIC exit, Policy Expert confirms
Policy Expert’s capacity deal of up to £2bn over six years with Accredited Insurance will replace its existing arrangement with QIC Europe when the current contract expires, the business has confirmed to Insurance Age.
Clear buys Centor
Clear Group has bought Centor Insurance & Risk Management for an undisclosed sum.
FCA reveals D&I and AR delays
The Financial Conduct Authority has delayed its consultation paper and policy statement on diversity in financial services as well as a policy statement on reviewing the appointed representatives regime.
Regional brokers spy growth in real estate
The regional real estate market is in rude health, with six in 10 brokers (56%) reporting growth over the past 12 months, and one in six (16%) reporting significant growth, according to Ecclesiastical.
Biba pushes back against FCA letter
The British Insurance Brokers’ Association has criticised the tone taken by the Financial Conduct Authority in its letter to brokers and promised to respond to the watchdog to defend the work done by the sector.
Sarah Willmont promoted to UK CEO as Canopius restructures
Canopius has named Sarah Willmont as UK CEO as it reorganised its global underwriting operations into four areas of specialty, short tail, reinsurance and casualty.
BoE exercise: No additional action scenario on climate change ups UK insurer losses by 50%
UK general insurers could face at least a 50% increase in average annualised losses in a non additional action on climate change scenario, a report by the Bank of England has detailed.
Broker FSCS levy plummets to £5m for 2022/23 from expected £68m
The Financial Services Compensation Scheme has cut brokers’ levy contribution to £5.3m for 2022/23 as it cancelled a planned retail pool contribution.
R&Q and Brickell deal collapses
R&Q has detailed plans to raise $108m (£85.8m) as the proposed takeover by Brickell fell through.
Cyber pricing hardens over 30%, says Aon
Market conditions for cyber insurance in the UK remain challenging with prices hardening by over 30% for the first quarter, according to an update by Aon.
Brickell seeks to cancel £482m R&Q takeover deal
Randall & Quilter has revealed that Brickell has cited a “material breach” and moved to scrap the proposed takeover.
Policy Expert signs six-year £2bn capacity deal with R&Q Accredited Europe
Home and motor insurtech Policy Expert has agreed a six-year capacity deal with A- rated R&Q subsidiary Accredited Insurance (Europe).
HDI restructures UK & Ireland operations
HDI Global and HDI Global Specialty’s UK and Ireland branches have been brought under a common leadership structure for the first time.
MS Amlin teams up with Altelium on battery energy storage insurance
MS Amlin Underwriting has partnered with insurtech Altelium to launch a battery energy storage system construction all risk and operational all risk insurance solution.
Ardonagh buys Alice Castle
Ardonagh Advisory has agreed to buy professional indemnity and cyber insurance specialists Alice Castle, Insurance Age can reveal.
R&Q delays shareholder vote on takeover
R&Q has postponed the shareholder vote on being bought by Brickell until 25 May.
FCA confirms 33 broker investigations
A Freedom of Information request by Insurance Age has revealed the Financial Conduct Authority is currently investigating 33 brokers.
FCA warns on Broker Express clone
The Financial Conduct Authority has warned of a clone of Broker Express with fraudsters using or giving out details as part of their tactics to scam people in the UK.
FCA speeds up permission removal process
The FCA has confirmed it will use new powers to cancel or change more swiftly the regulated activities firms are permitted to do as it bolsters its ‘use it or lose it’ initiative.
Income and Ebitda up at Ardonagh Advisory in Q1
Ardonagh Advisory has posted a surge in income for the first three months of 2022 to £95.5m.
Hug Hub to launch broker extranet service
Insurtech Hug Hub is to rollout an extranet service this summer in a move it said would save commercial brokers up to 75% of the processing cost in placing e-traded SME risks.