Broker
Review of the Year 2023: Broker Insights’ Fraser Edmond
Broker Insights CEO Fraser Edmond predicts more insurer M&A for 2024 and suggests those who use AI better will win out in the future.
Linked integration and organic growth key to JMG success, says CEO Houghton
Delivering on integration is “a bit of an obsession”, JMG Group CEO Nick Houghton told Insurance Age, as the broker posted rising Ebitda for 2022/23.
JMG deal bill tops £60m as purchases and organic growth boost Ebitda
Augusta Topco, the holding company for JMG Group, faced a bill of £63.2m for seven broker buys in the 2022/23 financial year, far outstripping the £17.3m of acquisition costs the year before.
Aon to buy NFP from Ardonagh investors MDP and HPS for £10.6bn
Aon has agreed to acquire rival US broking firm NFP for a total consideration estimated to be $13.4bn (£10.6bn).
Sporting Sponsor: AbbeyAutoline and Ulster Rugby
In the first of a new series, Insurance Age caught up with Julie Gibbons to find out more about AbbeyAutoline’s sponsorship of Ulster Rugby.
Broking Success: Customer service is key for retention
Ben Henderson, managing director of Brownhill Group, is looking to expand the family-run broker’s in-house schemes and double gross written premiums.
CII confirms Gill White as acting CEO ahead of Vallance leaving early
The Chartered Insurance Institute has confirmed that current chief customer officer Gill White will become acting CEO at the end of December when Alan Vallance leaves ahead of schedule.
Insurtech ARMD expands into the broker tradespeople market
ARMD, an insurtech, has formed a managing general agent to target brokers interested in the £6.5bn UK tradespeople insurance market.
Freemantle to succeed Perry as FSB Insurance Services MD
FSB Insurance Service has announced that with effect from 1 January 2024, its sales director Katie Freemantle will take over the role of managing director.
Lloyd’s confirms staying in iconic HQ until 2035
Lloyd’s of London has confirmed the extension of its lease to stay in its famous headquarters at One Lime Street until 2035 with an option to remain until 2040.
Allianz has all the ingredients to be the go-to on mid-market for brokers, says Carey
Dave Carey, managing director for mid-market at Allianz Commercial, is upbeat on the prospects for the insurer working in partnership with brokers as he reveals the characteristics-based underwriting approach for 2024.
Lloyd’s to stay in iconic headquarters until 2035 – report
Lloyd’s of London has struck a deal to stay in its famous headquarters at One Lime Street until at least 2035, according to the Financial Times.
Heath Crawford payout underlines the perils of underinsurance for brokers
The substantial damages awarded in the recent judgment Infinity Reliance Limited (trading as My 1st Years) v Heath Crawford Limited remind insurance brokers of the perils of underinsurance, with business interruption cover being a particular pitfall…
Cyber risk management education needed for SMEs, says Marsh
According to Kelly Butler, UK cyber leader at Marsh, cyber remains a top priority, and there is a disconnect between the insurance world and the cyber security world.
SEP delivers record year for business growth
Merseyside-based SEP Insurance has reported a record year, growing written premiums by 40% in 12 months.
Review of the Year 2023: Clear Group’s Neil Bunce
Neil Bunce, regional managing director at Clear Group, reflects on why penetration – not AI – is his buzzword of the year, and predicts Aviva might make a major UK acquisition in 2024.
Gallagher’s Michael Rea given expanded UK CEO role
Gallagher has promoted Michael Rea to CEO of UK broking and underwriting, subject to regulatory approval.
FOS motor insurance complaints soar again to new five-year high
The Financial Ombudsman Service received 4,036 complaints about car and motorcycle insurance between July and September driven by disputes over vehicle valuation, customer service issues, and delays in claim settlements.
Ardonagh notches up seventh broker buy of 2023
Ardonagh Advisory has announced plans to acquire Westfield Brokers, its seventh broking buy of 2023.
Allianz targets doubling brokers in Accelerator Programme to 250 next year
Mike Thomas, director of distribution for digital and mid-market at Allianz Commercial, has set his sights on reaching 250 brokers in its Accelerator Programme next year.
Review of the Year 2023: Zurich’s David Nichols
David Nichols, Zurich Insurance UK head of retail reflects on the hype over the ‘war for talent’ and how RSA’s acquisition of NIG is symptomatic of the drive towards e-trading and serving brokers better.
Thomas Carroll creates Employee Ownership Trust
Thomas Carroll Group has handed over the reins to its 181 employees as part of an Employee Ownership Trust in a move the broker flagged as key to its long-term succession plan having never entertained the option of a trade sale.
UK property MGA to launch in January 2024
Real estate managing general agent Ventis is set to launch in January with capacity from Accelerant and the support of Mission Underwriters.
Biba reveals 2024 theme for first conference under new CEO Trudgill
‘What’s next?’ has been announced as the theme of the British Insurance Brokers’ Association conference in 2024.