Commercial
Polaris eyeing up £500m GWP milestone for imarket in 2025, confirms Banga
“I don’t want to tempt fate, but on current trajectory, we should be getting close [to £500m GWP] by the end of 2025,” Polaris managing director Vivek Banga told Insurance Age.
Another double-digit jump for Polaris’s imarket takes premiums to £449m in 2024
Insurance premiums placed through digital trading platform imarket rose 15% to £449m in 2024 as Polaris built on surges in recent years.
Gallagher names ex-Giles boss Lyons specialty CEO as Turner departs
Gallagher has appointed Sarah Lyons, currently CEO of its Australia and Asia business, as CEO of the London-based specialty division, succeeding Jonathan Turner.
MGAA’s Mike Keating sees opportunity to ramp up support material on claims
Mike Keating, CEO of the Managing General Agents’ Association, sees an opportunity to ramp up guidance on claims, while also highlighting the “extremely buoyant” MGA market.
RSA testing “the art of the possible” on turnaround times
RSA is piloting how quickly it can turn around “fairly straightforward risks” in its national trading centre in Manchester, commercial managing director Sonya Bryson told Insurance Age.
QBE hails “excellent” International COR of 88.7%
QBE International grew gross written premium by 11% to $9.84bn (£7.78bn) last year as the combined operating ratio improved.
US consolidator completes first overseas deal with UK MGA buy
Bishop Street Underwriters has completed its acquisition of Landmark Underwriting, a specialty-focused managing general agent based in London.
Zurich UK boosts operating profits as GWP rises and COR improves
Zurich UK improved its combined operating ratio in property and casualty business to 91.7% last year from 93.8% in 2023.
Howden’s UK broker buying takes off in 2025 with two aviation deals
Howden has bought aviation specialist Forbes Insurance and Hill Aviation Insurance Services’ book of business as it sets up a new division.
More than one in four UK businesses impacted by civil unrest last year, says Gallagher
Over one in four UK businesses were impacted by civil unrest last year, with nearly two-thirds citing a continuation of the problem as a major concern for 2025, according to research by Gallagher.
IQUW launches ports and terminals product
IQUW has launched a ports and terminals product, with the insurer claiming it will help brokers and clients manage their risks with cover for physical loss or damage to marine property and cargo handling equipment, business interruption and third-party…
MGA brings together five businesses under one brand
Dual Group has rebranded a collection of its UK MGA businesses under a single identity.
Ex-Towergate boss Mike Lawton promoted at Travelers
Travelers Europe has named Mike Lawton as chief operating officer.
Acturis rolls out AI and data-driven placement strategy offering Unify
Acturis has launched Unify, Insurance Age can reveal, an artificial intelligence and data-driven offering that can aid placement strategies with granular insights and appetite matching for brokers and insurers.
Miller hails organic growth as revenue hits £271m
Miller has reported total revenues of £271m for 2024, a 13% increase on the year before, as it placed $4bn (£3.18bn) of gross written premium into the market.
Sompo creates global P&C and wellbeing segments
Sompo Holdings has formed two global segments, Sompo Property and Casualty and Sompo Wellbeing with the restructure kicking in on 1 April.
Specialty insurer becomes latest Lloyd’s entrant with Syndicate 1984
Convex Group, the specialty insurer and reinsurer, has received in principle approval to launch Lloyd’s Syndicate 1984, which will start underwriting in April 2025.
PIB kicks off 2025 buys with Residentsline
PIB has bought flats and apartments insurance specialist Residentsline from managing director owner Belinda Bagnall in its first deal of the year.
RSA sees underwriting profit shoot up as combined ratio improves
RSA’s underwriting profit almost doubled in 2024, hitting £172m, up from £90m in 2023, the insurer’s parent company, Intact, has reported.
Allianz warns motor traders on EV batteries with guidance for brokers
Allianz UK has warned motor traders on the high risks and costs of Electric Vehicle battery fires, as it offered risk management guidance to brokers and policyholders.
Motor MGA widens distribution after targeting £125m GWP with Zurich capacity
Managing general agent Freedom Services is aiming to more than double the business it writes to £125m gross written premium through a capacity deal it struck with Zurich in 2024, Insurance Age can reveal.
Radius Insurance Solutions adds ex-Aon and Hiscox leader Philip Thorn as MD
Radius Insurance Solutions has appointed Philip Thorn from Aon as managing director, succeeding Matt Kirby.
Market Movement Index: Brokers cutting agencies to focus on fewer insurers
Analysis from Broker Insights shows brokers are consolidating agency numbers and ending relationships with smaller, less useful, insurers. Rachel Gordon breaks down the data.
MGA Aspect expands in property with more products promised for brokers
High-hazards mid-market specialist managing general agent Aspect has rolled out a broader range of product capabilities and a brand refresh.