Broker
Miller-linked new MGA Casper to focus on casualty
Managing general agent Casper Specialty UK has launched targeting the casualty market.
Brokers upbeat on growth but underinsurance concerns persist – Aviva research
Brokers are markedly more optimistic on growth, with 76% expecting their business to expand in 2023, up from 43% that had a positive outlook in 2022, according to Aviva.
Survey reveals pay concerns and potential further job-market churn
A survey by recruitment consultants Reed has revealed that a fifth of employees in insurance and financial services are actively seeking new job opportunities, and more than a third are considering looking for a new job.
CEO Peter Thompson leaving BGL
BGL Insurance CEO Peter Thompson is leaving the business on 28 February, Markerstudy Group has confirmed.
Covéa exits HNW motor line
Covéa is no longer writing business in the executive motor space for high net worth, Insurance Age can reveal.
Tysers sells bloodstock broking team and MGA Galileo to Howden
Tysers has revealed the sale of its bloodstock broking team and bloodstock managing agent, Galileo, to the “perfect new home” of Howden.
Travel insurance provider TIF Group re-enters broker market
Travel Insurance Facilities Group has re-entered the broker market with a new dedicated portal.
Start-up broker targets £1m income in five years
Start-up broker Ash Tree Insurance, which specialises in the agriculture and the SME sector, is targeting £1m income in five years.
Premier Choice Healthcare buys Visibly Health and further PMI portfolio
Global Risk Partners-owned Premier Choice Healthcare has bought Visibly Health and, separately, a book of business controlled by self-employed consultant Gill Nicholson.
Are brokers bucking the trend of insurtech investment struggles?
According to a new Gallagher Re report, global insurtech investment fell in the fourth quarter of 2022 to its lowest level since the third quarter of 2020. Sophie Locke-Cooper details why some may be struggling even if there are signs of hope among…
Allianz reveals £32m December freeze hit and CEO Holmes predicts rate hikes to continue
Allianz Holding has revealed the impact of the winter weather on its bottom line, as CEO Colm Holmes forecast that the Q3 and Q4 rating hikes would continue into 2023.
People Moves: 14 – 17 February 2023
Keep up-to-date with the latest personnel moves within the insurance industry.
Brit-owned Ki doubles GWP in second year of trading to almost £700m
The Brit-owned algorithmically driven Lloyd’s syndicate Ki has more than doubled its gross written premium to $834.1m (£698.6m) in 2022 – its second year of trading, reporting a combined operating ratio of 99.4%.
Two deals in a week as GRP buys Henshalls
Global Risk Partners has ramped up its acquisition spree again, buying Shropshire-headquartered Henshalls Insurance Brokers for an undisclosed sum.
FCA signs off on PIB's £24m Jigsaw buy
The Financial Conduct Authority has approved PIB buying Jigsaw Insurance Services Plc, as the consolidator eyes a significant push into the personal lines market.
‘Double standards’ – fed up brokers urge FCA to improve authorisation times
Brokers are urging the Financial Conduct Authority to improve its authorisation speeds, and stressing that the current performance is damaging the industry.
Ignite stresses the importance of a gender-balanced industry
Jess Burton, head of operations at Ignite, has urged the insurance sector to become more gender balanced in order for the industry to keep moving forward.
Ex-Brokerbility boss Julie Rayson-Flynn joins Towergate
Towergate Insurance Brokers has appointed former Brokerbility director Julie Rayson-Flynn to the newly created role of national broking director.
Home insurance prices fall again to new record low
The average cost of home insurance dropped to £300 in 2022, the cheapest since the Association of British Insurers started collecting data in 2012.
Brokers must priortise staff engagement as the 'great resignation' continues to bite in 2023
Brokers have stressed the need to keep staff engaged as resignations and recruitment struggles don't look to be going away any time soon. Sophie Locke-Cooper details how the post-pandemic period of reflection is still being felt today.
Light on the horizon for brokers squeezed by rising professional indemnity costs
Brokers have faced rising professional indemnity costs amid a perfect storm of factors driving rate increases. But now the market is beginning to settle, although some firms will still face significant headwinds
Broker praise leads to claims recognition for Allianz, Chubb and Ecclesiastical
Insurance consultancy, Gracechurch, has awarded its Service Quality Marque to Allianz, Chubb and Ecclesiastical.
Hamilton Fraser makes first buy under GRP ownership
Hamilton Fraser has bought London-based commercial lines broker Edmondsons.
FCA calls for firms to do more on ESG
The Financial Conduct Authority has stressed that businesses must continue to adapt their priorities to meet the changing environmental needs for a more sustainable world.