Broker
Mulsanne and Complete Cover parent slips to 2021 loss
Gibraltar-based motor insurer Mulsanne Insurance more than doubled its gross written premium to £119m in 2021 from £54.8m in 2020.
Acrisure continues UK expansion with CRK Commercial Insurance Services buy
US-based Acrisure has made its second UK broker purchase with CRK Commercial Insurance Services, following the acquisition of Russell Scanlan.
Ecclesiastical swings to half year loss on investment returns
Ecclesiastical Insurance has reported a pre-tax loss of £27.3m for the first half of the year compared to a profit of £46.5m in the same period of 2021.
Stark shortfall in fair value assessment requests from insurers
In a compliance webinar hosted by Kenneth Underhill, director of Implement Compliance Solutions and Resources, 76% of approximately 120 participating co-manufacturers and distributors said they had not received a fair value assessment from their…
Close Brothers reports premium finance drop
Close Brothers has posted a 4% fall in its premium finance book to £1bn in the year to 31 July 2022.
Got You Covered names Lisa Powis as non-executive director
Personal lines insurance broker, Got You Covered, has added Fresh-founder Lisa Powis to its executive management team in an advisory role as non-executive director.
Complete Cover report details outsourcing to South Africa and job cuts
Complete Cover Group introduced a restructuring programme in the fourth quarter of 2021 to significantly reduce the UK workforce with much of the customer facing activities outsourced to South Africa, a Companies House filing has revealed.
Doyle to take over as Marsh McLennan CEO as Glaser announces retirement
Marsh McLennan has announced that John Doyle will take over as president and CEO at the beginning of 2023 succeeding Dan Glaser.
FCA pinpoints good and poor practices for orderly broker wind-downs
The Financial Conduct Authority has listed broker failings as it reiterated expectations and requirements for wind-down planning.
Mark Coffey named personal lines and e-trade director at Premium Credit
Former RSA leader and director at Ardonagh-owned Atlanta, Mark Coffey, has joined Premium Credit as personal lines and e-trade director.
One Call reports £6.25m fall in profit, despite rise in turnover
One Call Insurance has reported a drop in profit to £10.75m (2020: £17m) for the financial year ended 31st December 2021.
Zego doubling down on growth with 40 brokers
Zego is pursuing a route of working with brokers who “see how the future is evolving” rather than a working “with any broker” approach, CEO Sten Saar told Insurance Age.
Analysis: Brokers, insurers and the FCA’s product governance - confusion reigns
The FCA's new rules on product governance come into force on 1 October. But as Rachel Gordon discovers even with a three month extension or ‘forbearance,’ brokers are still in the dark about what is expected from them.
Devitt grew 10% in run-up to Gallagher sale
Romford-based Devitt Insurance Services has posted 10% growth in turnover to £14.43m for 2021.
RSA sets out strategic roadmap for 2025 with new "broker promise" vow
RSA has revealed its strategic roadmap for 2025 with a target of reaching a combined operating ratio in the low 90s and committed to unveiling a new broker "promise" in 2023.
People Moves: 19-23 September 2022
Keep up to date with the latest personnel changes in the insurance industry.
Aviva “disappointed” at other insurers for not offering fairly priced multi-occupancy building insurance
Aviva’s UK & Ireland general insurance CEO, Adam Winslow, has responded to the FCA’s report on insurance for multi-occupancy buildings and has expressed disappointment in other insurers for not offering fairly priced insurance.
Government summons ABI to meeting on FCA tower block insurance report
The Secretary of State for Levelling up, Housing & Communities has written to Hannah Gurga, director general of the Association of British Insurers, telling the industry to accelerate its work on multiple occupancy buildings insurance and solve the…
Government writes to Biba slamming “amoral” flats insurance commission and demanding change
Government minister Simon Clarke has written to Steve White, CEO of the British Insurance Brokers’ Association, demanding immediate changes to unfair commissions and a plan to reform market culture and practice after the regulator’s report into multi…
Biba welcomes FCA tower blocks insurance report and flags commission rate fall
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s report on insurance for multi-occupancy buildings and broadly supported the key recommendations but warned of "unintended consequences".
Aviva launches standalone cover for electric vehicle charging points
Aviva has launched standalone insurance products covering electric vehicle charging points aimed at installers and operators.
ABI commits to working “at pace” on pool sharing risk solution after FCA flats insurance report
The Association of British Insurers has responded to the Financial Conduct Authority’s report on insurance for multi-occupancy buildings in which the regulator called for a cross industry pool.
Staysure completes aggregator Payingtoomuch buy
Staysure Group has bought the remaining shares in travel insurance comparison site Payingtoomuch.
Brokers hailed as a “critical” distribution channel for trade credit insurance by Allianz Trade CEO
CEO at Allianz Trade UK & Ireland, Sarah Murrow, has described brokers as a "critical" distributer when promoting trade credit insurance to clients.