Broker
Brokers cautious about proposals for chartered status on ‘experience’
Brokers are cautious on the Chartered Insurance Institute’s pilot proposals to allow individuals to gain chartered status based on experience.
Vitale Digital becomes Biba associate
Vitale Digital has become the 42nd British Insurance Brokers’ Association associate.
Motor premiums accelerate again with 21.1% annual increase
The average cost of car insurance soared by a record 21.1% in the year to February, taking annual bills to £929, according to Consumer Intelligence.
RSA exits personal lines motor shifting renewals to Swinton
RSA has confirmed pulling out of the UK personal lines motor market, worth £120m in gross written premium, and signing up with Atlanta-owned Swinton on a renewals deal.
AssuredPartners continues south-west push with broker buy
AssuredPartners bought South West Brokers, which trades under the name of Westinsure Plymouth.
SRIS eyes £250m GWP within two years
Specialist Risk Insurance Solutions grew gross written premium 20% last year and the £130m business is eyeing up £250m by the end of 2024, managing director Oliver Thorne told Insurance Age.
Brokers face ‘fair value’ dilemma on premium finance amid interest rate rises
Brokers are faced with a dilemma as interest rates rise. The Financial Conduct Authority’s demand for them to offer ‘fair value’ products is at the forefront of their minds when they decide how to deal with the customer. Saxon East reports.
CII trials giving chartered status on experience rather than exams
The Chartered Insurance Institute is trialling whether to give members chartered status based on experience, rather than having to sit an exam.
Zurich boosts Bristol, Southampton and Leeds in regional push
Zurich UK has opened new offices in Bristol and Leeds, as well as adding underwriting expertise in Southampton, expanding its regional network to 10, Insurance Age can reveal.
Premium Credit offering non-recourse solution for partners – Mark Coffey
Premium Credit has a non-recourse borderaux solution that remains available for interested partners, says personal lines and e-trade director Mark Coffey.
More than 70% of brokers have a vacancy amid intense recruitment challenges
Some 71% of brokers are looking to fill a role, with 23% of vacancies open for four months or more, according to the latest research by Aviva.
People Moves: 20 - 24 March 2023
Keep up-to-date with the latest personnel moves in the insurance industry.
Insurers respond to broker meeting challenge and criticism
To coincide with today’s third anniversary of the UK’s first Covid-19 pandemic lockdown, Insurance Age polled providers to find out how they have sought to re-engage face to face with brokers.
London market broker completes management buyout
Ballantyne Brokers has completed a management buyout to become 100% owned by staff.
Ardonagh reports adjusted Ebidta growth of 22% to £389m
Ardonagh has increased its income by 30% to $1.5bn (£1.23bn), and adjusted Ebitda by 22% to $476m in its financial results for the 12 months ending 31 December 2022.
Brokers call for more face-to-face interaction as insurer service improves
Three years on from the UK’s first pandemic lockdown, brokers welcomed the uptick in insurer engagement, but urged providers to do more below C-suite level.
Castleacre buys private client insurance broker Merritt
Castleacre has bought Merritt Insurance Services for an undisclosed sum.
Hagerty launches private client service
Hagerty, a car insurance provider, has launched its private client service, which can be sold through brokers who have customers with a vehicle, or vehicles, worth £250,000 or more.
FCA approval times worsen for new firms as overall picture improves
The Financial Conduct Authority’s approval times for new firms is worsening in 2023, according to latest data, bucking a trend that has seen improvements in key broker areas, including for approved person status and appointed representatives.
M&A slips back from 2021 record to £4bn in 2022
Imas has calculated that the value of UK general insurance distribution M&A dropped to £4bn in 2022 from £5.6bn in 2021, Insurance Age can reveal.
Crawford & Co launches automated livestock claims system
Crawford & Company has launched an automated claims settlement system for the UK livestock market, which is available to brokers, insurers and policyholders.
First Underwriting exit a broker ‘blow’ in diminishing personal lines markets
First Underwriting’s exit from standard home and motor is a 'blow', say brokers seeking markets for personal lines.
Ecclesiastical sells SEIB to Lloyd & Whyte
Ecclesiastical Insurance has sold SEIB Insurance Brokers to associated business Lloyd & Whyte for £45.2m, the insurer has confirmed.
People Moves: 13–17 March 2023
Stay in the loop with the most recent insurance personnel moves.