Broker
People Moves Round-up: 20-24 January 2020
Keep up to date with the latest market moves.
Biba focuses on access to insurance in 2020 manifesto
Manifesto includes 37 commitments and 29 calls for action across nine key areas including regulation, broking challenges, Brexit, and transport.
CMA urges regulators to put "strong remedies" in place to end loyalty penalty
Government body welcomes the FCA's proposition to ban dual pricing as it publishes update a year on from the Citizens Advice super-complaint.
By Miles receives FCA ‘open banking’ licence
InsurTech will be able to access the financial data of consenting customers.
Hyperion reveals £300m spending pot and multiple deal wish list
CEO David Howden says revenue and GWP increases for 2019 were driven by organic growth as the broker reveals it is looking at 20 acquisition targets.
FSCS levy hike reignites call for separate broker pot
Expected broker levy rose to £23m for 2020/21 after spike in PPI complaints.
Add your voice to the Insurance Age mental health campaign
The Insurance Age Head Lines campaign has been developed to help build a better insurance workplace and encourage the c-suite to talk about their personal experiences.
Gallagher names North MD
Consolidator says the move follows a significant expansion of its regional branch network as a result of various acquisitions, including Stackhouse Poland.
Ecclesiastical launches broker cyber guidance
Insurer says cyber attacks are increasing in frequency.
Romero and Qlaims partner on commercial property support
Broker can now offer claims support and loss recovery insurance to commercial property clients.
Claims inflation continues to bite at Hastings
Trading update reveals provider has restated its operating profit from £125m to £110m – a drop of 12%.
The Blog Spot: Kicking things off
Editor, Siân Barton, considers how the insurance space has launched into 2020 and looks back to a thread from 2019 that should be picked up again this year.
Vizion establishes health and fine art divisions
Matthew Howells and Peter Bownes-Johnson join the broker as partners.
FSCS hikes broker levy up by £11m for 2020/21
Organisation says indicative levy for general insurance distribution is £23m and publishes Plan and Budget for the next financial year as total levy goes up by £87m.
Jon Hancock to exit Lloyd's
Hancock is set to step down in 2020 after three years at the insurance market.
MCL restructures Irish operation amid Brexit uncertainty
Motor broker MCL relocates and registers Irish operation to Swords, Dublin to enable it to continue trading as normal following UK’s EU exit.
Juliet Williams joins Biba
Williams, previously group SME director at Circle Insurance Services, will take on area manager role at the broker trade body.
Former FCA insider develops compliance platform for brokers
Industry veteran Michael Sicsic partners with Governor Software to help brokers and insurers digitalise key compliance processes in a changing regulatory environment.
Banks-owned Somerset Bridge to sell Business Choice Direct
Group had held a 51% stake in Business Choice Direct since it was spun out in 2016.
Bruce Stevenson commits to independence amid M&A interest
CEO Edward Bruce said consolidator interest in the Scottish broker was increasing as it posted ‘record’ turnover for 2019.
Capsicum Re targets further growth following Gallagher takeover deal
Gallagher's UK boss Simon Matson addressed last year's "unfortunate" Gallagher v Ardonagh court case for the first time as he discussed the broker's full acquisition of Capsicum Re alongside CEO Rupert Swallow.
Alan Boswell takes on Marsh Commercial staff
Seven members of staff have joined the Laceby branch from the recently closed Grimsby office.
Gallagher completes 100% Capsicum Re ownership deal
Business was founded in 2013 by Grahame Chilton and Rupert Swallow through a strategic partnership with Gallagher.
Bruce Stevenson posts ‘record’ turnover for 2019
Broker credited growth to renewable energy, social housing, and food and drink.