Insight
TBIG increases shareholding in Deva to 75%
The Broker Investment Group has increased its shareholding in the Deva Group to 75% from 49%.
TMHCC combines event cancellation and cyber cover
Tokio Marine HCC has launched a malicious cyber event extension to its cancellation product available through its Lloyd’s syndicate and HCC International Insurance.
New FCA S166 investigations into brokers drops to zero
The Financial Conduct Authority did not open any new S166 investigations into brokers in the first three months of the year, as the number issued across financial services hit a high of 27.
Clear buys Accelerate Underwriting
The Clear Group has made its fourth managing general agent acquisition, snapping up Accelerate Underwriting.
SRG adds to MGA offering with Capulus
Specialist Risk Group has purchased Capulus, a specialist motor fleet managing general agent, based in Wales, and will build out SRG's MGA MX which was launched in December 2021.
Ripe takes Alan Thomas from Simply Business as CEO
Digital MGA Ripe has swooped for Alan Thomas, the former UK CEO at Simply Business, as its new boss.
The stats: Q2 2024 – Commercial combined and combined liability premiums fall for first time in three years
The smallest index movement since Q2 2021 suggests the commercial lines market is starting to become more competitive again, as Ida Axling reports.
Alps teams up with Fortega on GAP sales
Fortegra Europe Insurance has partnered with Alps for the distribution of Guaranteed Asset Protection insurance.
Dual UK buys MGA International Passenger Protection
Dual UK has signed up to buy managing general agent International Passenger Protection, which provides cover against insolvency of travel operators or other related suppliers.
Aon names Rob Kemp as head of commercial risk for the UK
Rob Kemp will switch to be head of commercial risk solutions for the UK at Aon on 1 October, the broker has confirmed.
MGA expands into transactional liability following first acquisition
Rising Edge has signed an agreement to acquire AMANIKI GmbH enabling the MGA to launch a suite of transactional liability insurance products.
Think strikes third buy in three years with Bromwich Insurance Bureau deal
Walsall-headquartered Think Insurance Services has secured its third Midlands-based deal buying Bromwich Insurance Bureau, Insurance Age can reveal.
Blog: Going back to school to solve the broking skills crisis
Brokers could play an important role in plugging the skills gap in insurance with early educational efforts. Martyn Mathews, MD of SSP Broker, explains.
People Moves: 26 - 30 August 2024
Keep up to date on the latest personnel changes in insurance.
Axa reveals 106.3% UK COR for 2023
Axa Insurance UK has posted an improved 106.3% combined operating ratio for 2023, trimming it from 109.8% the year before.
My Insurance Downtime: Ben Taylor, Verisk Claims
Ben Taylor, business development manager at Verisk Claims, offers us a window into his life outside of insurance.
Ageas Retail revenue ticks up as profit rebounds
Ageas’ wholly owned broking subsidiary Ageas Retail grew post-tax profit by 20% in 2023 to £6.5m, switching back to growth after declining in 2022.
Loss adjusters in spotlight as FOS buildings insurance complaints hit 10-year high
The number of buildings insurance complaints filed to the Financial Ombudsman Service hit a record quarterly high of 2001 between April and June.
Motor FOS complaints stable in Q1 as ombudsman’s workload surges
Car and motorcycle insurance complaints to the Financial Ombudsman Service rose fractionally to 3,940 in the first quarter of the financial year as the overall workload soared by 70%.
JMG adds to Yorkshire roots with C P Bennet buy
Leeds-headquartered JMG Group has bought Bridlington-based commercial and personal lines insurance broker C P Bennet.
Ageas delivers 49% growth in UK premiums
Ageas boosted UK gross written premiums by 49% in the first half of 2024 to €992m (£835m) citing customer growth and rate increases primarily in motor with “solid underwriting profitability”.
Home quote prices turn downwards – Consumer Intelligence
The average quoted premiums for buildings and contents insurance fell by 1.1% in the three months to the end of July, according to research by Consumer Intelligence.
Specialist Risk Group grows taxi book with latest buy
Specialist Risk Group has acquired the ongoing renewal rights of Morton Insurance Brokers, a specialist in private hire and taxi insurance across the UK since 1987.
Biba and Flood Re team up on BBB regional push
Flood Re has teamed up with the British Insurance Brokers’ Association as part of its plans to develop wider understanding across the broking community about the mechanics and benefits of the Build Back Better scheme.